Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to investigations and government operations |
Apr 25, 2017 |
referred to investigations and government operations |
Senate Bill S5688
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2017-S5688 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9904
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Rpld §1402-a, Tax L
- Versions Introduced in 2019-2020 Legislative Session:
-
A8853
2017-S5688 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5688 TITLE OF BILL : An act to repeal section 1402-a of the tax law, relating to the mansion tax PURPOSE OR GENERAL IDEA OF BILL : This bill repeals the State mansion tax since the imposition of the tax has become a real barrier to middle class home ownership. SUMMARY OF PROVISIONS : Section one of this bill would repeal subdivision (a) of section 1402-a of the tax law. Section two provides that this act shall take effect immediately. EXISTING LAW : Currently the State imposes additional real estate transfer taxes of one percent of the total conveyance price on homes that are sold for one million dollars or more. JUSTIFICATION :
2017-S5688 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5688 2017-2018 Regular Sessions I N S E N A T E April 25, 2017 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to repeal section 1402-a of the tax law, relating to the mansion tax THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1402-a of the tax law is REPEALED. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10659-01-7
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