|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Oct 03, 2019||signed chap.332|
|Oct 01, 2019||delivered to governor|
|Jun 20, 2019||returned to senate|
home rule request
ordered to third reading rules cal.554
substituted for a7711
|Jun 18, 2019||referred to ways and means|
delivered to assembly
ordered to third reading cal.1514
committee discharged and committed to rules
|May 10, 2019||referred to investigations and government operations|
senate Bill S5672Signed By Governor
Current Bill Status - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
S5672 (ACTIVE) - Details
- See Assembly Version of this Bill:
- Law Section:
- Tax Law
- Laws Affected:
- Add §253-y, Tax L
S5672 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5672 SPONSOR: MAY TITLE OF BILL: An act to amend the tax law, in relation to authoriz- ing the county of Madison to impose an additional mortgage recording tax; and providing for the repeal of such provisions upon the expiration thereof PURPOSE OR GENERAL IDEA OF BILL: This bill will allow Madison County to impose an additional mortgage recording tax. SUMMARY OF SPECIFIC PROVISIONS: Section 1 Amends the tax law by adding a new section 253-y to authorize Madison County to impose an additional mortgage recording tax on mort- gage debt for real property located within the county. Section 2 Contains the effective date.
S5672 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5672 2019-2020 Regular Sessions I N S E N A T E May 10, 2019 ___________ Introduced by Sen. MAY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to authorizing the county of Madison to impose an additional mortgage recording tax; and providing for the repeal of such provisions upon the expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 253-y to read as follows: § 253-Y. RECORDING TAX IMPOSED BY THE COUNTY OF MADISON. 1. MADISON COUNTY, ACTING THROUGH ITS LOCAL LEGISLATIVE BODY, IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND LOCAL LAWS IMPOSING IN SUCH COUNTY A TAX OF TWENTY-FIVE CENTS FOR EACH ONE HUNDRED DOLLARS AND EACH REMAINING MAJOR FRACTION THEREOF OF PRINCIPAL DEBT OR OBLIGATION WHICH IS OR UNDER ANY CONTINGENCY MAY BE SECURED AT THE DATE OF EXECUTION THEREOF, OR AT ANY TIME THEREAFTER, BY A MORTGAGE ON REAL PROPERTY SITUATED WITHIN SUCH COUNTY AND RECORDED ON OR AFTER THE DATE UPON WHICH SUCH TAX TAKES EFFECT AND A TAX OF TWENTY-FIVE CENTS ON SUCH MORTGAGE IF THE PRINCIPAL DEBT OR OBLIGATION WHICH IS OR BY ANY CONTINGENCY MAY BE SECURED BY SUCH MORTGAGE IS LESS THAN ONE HUNDRED DOLLARS. 2. THE TAXES IMPOSED UNDER THE AUTHORITY OF THIS SECTION SHALL BE ADMINISTERED AND COLLECTED IN THE SAME MANNER AS THE TAXES IMPOSED UNDER SUBDIVISION ONE OF SECTION TWO HUNDRED FIFTY-THREE AND PARAGRAPH (B) OF SUBDIVISION ONE OF SECTION TWO HUNDRED FIFTY-FIVE OF THIS ARTICLE. EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, ALL THE PROVISIONS OF THIS ARTICLE RELATING TO OR APPLICABLE TO THE ADMINISTRATION AND COLLECTION OF THE TAXES IMPOSED BY SUCH SUBDIVISIONS SHALL APPLY TO THE TAXES IMPOSED UNDER THE AUTHORITY OF THIS SECTION WITH SUCH MODIFICA- TIONS AS MAY BE NECESSARY TO ADAPT SUCH LANGUAGE TO THE TAX SO AUTHOR- IZED. SUCH PROVISIONS SHALL APPLY WITH THE SAME FORCE AND EFFECT AS IF THOSE PROVISIONS HAD BEEN SET FORTH IN FULL IN THIS SECTION EXCEPT TO THE EXTENT THAT ANY PROVISION IS EITHER INCONSISTENT WITH A PROVISION OF THIS SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY THIS SECTION.
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