NY State Senate Bill S7731

Archive: Last Bill Status - Passed Senate

Introduced
In Committee
On Floor Calendar
- Passed Senate
- Passed Assembly
Delivered to Governor
Signed/Vetoed by Governor

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Actions

view actions (7)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 22, 2020	referred to ways and means delivered to assembly passed senate home rule request ordered to third reading cal.982
Jul 20, 2020	reported and committed to rules
Feb 11, 2020	referred to investigations and government operations

Votes

view votes

Jul 22, 2020 - floor Vote

S7731

floor

Aye

Nay

Absent

Excused

Abstained

Jul 22, 2020 - Rules committee Vote

S7731

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

Jul 20, 2020 - Investigations and Government Operations committee Vote

S7731

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Jul 20, 2020

aye (2)

nay (2)

aye wr (2)

S7731 (ACTIVE) - Details

See Assembly Version of this Bill:: A9960
Law Section:: Tax Law
Laws Affected:: Add §253-z, Tax L

S7731 (ACTIVE) - Summary

Authorizes the county of Otsego to impose an additional mortgage recording tax of 25 cents per $100 of principal debt or obligation.

S7731 (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S7731

SPONSOR: SEWARD
 
TITLE OF BILL:

An act to amend the tax law, in relation to authorizing the county of
Otsego to impose an additional mortgage recording tax; and providing for
the repeal of such provisions upon the expiration thereof

 
PURPOSE:

To authorize Otsego County to levy an additional mortgage recording tax
of twenty-five cents (.25) for each one hundred dollars ($100) of mort-
gage value for a two year period.

 
SUMMARY OF PROVISIONS:

Section 1 of the bill adds a new section, 253-z, to the tax law, author-
izing Otsego County to impose an additional mortgage recording tax of
twenty-five cents (25) for each one hundred dollars ($100) of mortgage
value through December 31, 2022. Section one outlines the terms, condi-

tions and manner under which the additional tax shall be imposed and
collected. Section 2 provides an effective date.

 
EXISTING LAW:

Current law does not permit Otsego County to collect an additional one-
quarter percent mortgage tax.

 
JUSTIFICATION:

Otsego County in 1971 suspended its collection of the additional one-
quarter percent (.25%) mortgage recording tax authorized under the law.
It is now one of few counties in New York State lacking such authority.
The Otsego County Board of Representatives has adopted a resolution (No.
102-2020-0205) requesting that the state legislature introduce and pass
legislation to authorize the county to impose an additional mortgage
recording tax for the period through December 31, 2022. This measure is
a home rule request, and requires subsequent action by the county board.

 
LEGISLATIVE HISTORY:

S. 5364 of 2018  
FISCAL IMPLICATIONS:

None to the state.

 
EFFECTIVE DATE:
Immediate NEW YORK STATE SENATE

S7731 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7731

                            I N  S E N A T E

                            February 11, 2020
                               ___________

Introduced  by  Sen.  SEWARD -- 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
  Otsego  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-z to
read as follows:
  § 253-Z.  RECORDING TAX IMPOSED BY THE COUNTY  OF  OTSEGO.  1.  OTSEGO
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 MODIFICATIONS AS
MAY BE NECESSARY TO ADAPT SUCH LANGUAGE TO THE TAX SO  AUTHORIZED.  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.  FOR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                      [ ] is old law to be omitted.
                                                           LBD15360-01-0

S. 7731                             2

PURPOSES  OF  THIS  SECTION, ANY REFERENCE IN THIS ARTICLE TO THE TAX OR
TAXES IMPOSED BY THIS ARTICLE SHALL BE DEEMED TO REFER TO A TAX  IMPOSED
PURSUANT  TO  THIS SECTION, AND ANY REFERENCE TO THE PHRASE "WITHIN THIS
STATE" SHALL BE READ AS "WITHIN OTSEGO COUNTY", UNLESS A DIFFERENT MEAN-
ING IS CLEARLY REQUIRED.
  3.  WHERE THE REAL PROPERTY COVERED BY THE MORTGAGE SUBJECT TO THE TAX
IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION IS  SITUATED  IN  THIS
STATE BUT WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE AMOUNT OF
SUCH  TAX DUE AND PAYABLE TO SUCH COUNTY SHALL BE DETERMINED IN A MANNER
SIMILAR TO THAT  PRESCRIBED  IN  THE  FIRST  UNDESIGNATED  PARAGRAPH  OF
SECTION  TWO  HUNDRED SIXTY OF THIS ARTICLE WHICH CONCERNS REAL PROPERTY
SITUATED IN TWO OR MORE COUNTIES. WHERE SUCH PROPERTY IS  SITUATED  BOTH
WITHIN  SUCH COUNTY AND WITHOUT THE STATE, THE AMOUNT DUE AND PAYABLE TO
SUCH COUNTY SHALL BE DETERMINED IN THE MANNER PRESCRIBED IN  THE  SECOND
UNDESIGNATED  PARAGRAPH OF SUCH SECTION TWO HUNDRED SIXTY WHICH CONCERNS
PROPERTY SITUATED WITHIN AND WITHOUT THE STATE. WHERE REAL  PROPERTY  IS
SITUATED  WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE RECORDING
OFFICER OF THE JURISDICTION IN WHICH  THE  MORTGAGE  IS  FIRST  RECORDED
SHALL BE REQUIRED TO COLLECT THE TAXES IMPOSED PURSUANT TO THIS SECTION.
  4. A TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION SHALL BE IN
ADDITION TO THE TAXES IMPOSED BY SECTION TWO HUNDRED FIFTY-THREE OF THIS
ARTICLE.
  5.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY, THE
BALANCE OF ALL MONEYS PAID TO THE RECORDING OFFICER  OF  THE  COUNTY  OF
OTSEGO DURING EACH MONTH UPON ACCOUNT OF THE TAX IMPOSED PURSUANT TO THE
AUTHORITY OF THIS SECTION, AFTER DEDUCTING THE NECESSARY EXPENSES OF HIS
OR HER OFFICE AS PROVIDED IN SECTION TWO HUNDRED SIXTY-TWO OF THIS ARTI-
CLE, EXCEPT TAXES PAID UPON MORTGAGES WHICH UNDER THE PROVISIONS OF THIS
SECTION  OR  SECTION  TWO  HUNDRED SIXTY OF THIS ARTICLE ARE FIRST TO BE
APPORTIONED BY THE COMMISSIONER, SHALL BE PAID OVER BY SUCH  OFFICER  ON
OR  BEFORE  THE  TENTH  DAY OF EACH SUCCEEDING MONTH TO THE TREASURER OF
OTSEGO COUNTY AND, AFTER THE DEDUCTION BY SUCH TREASURER OF  THE  NECES-
SARY  EXPENSES  OF  HIS  OR  HER  OFFICE PROVIDED IN SECTION TWO HUNDRED
SIXTY-TWO OF THIS ARTICLE SHALL BE DEPOSITED IN THE GENERAL FUND OF  THE
COUNTY OF OTSEGO FOR EXPENDITURE ON ANY COUNTY PURPOSE.  NOTWITHSTANDING
THE  PROVISIONS  OF  THE PRECEDING SENTENCE, THE TAX SO IMPOSED AND PAID
UPON MORTGAGES COVERING REAL PROPERTY SITUATED IN TWO OR MORE  COUNTIES,
WHICH  UNDER THE PROVISIONS OF THIS SECTION OR SECTION TWO HUNDRED SIXTY
OF THIS ARTICLE ARE FIRST TO BE APPORTIONED BY THE  COMMISSIONER,  SHALL
BE  PAID OVER BY THE RECORDING OFFICER RECEIVING THE SAME AS PROVIDED BY
THE DETERMINATION OF THE COMMISSIONER.
  6. ANY LOCAL LAW IMPOSING A TAX PURSUANT  TO  THE  AUTHORITY  OF  THIS
SECTION  OR REPEALING OR SUSPENDING SUCH A TAX SHALL TAKE EFFECT ONLY ON
THE FIRST DAY OF A CALENDAR MONTH. SUCH A LOCAL LAW SHALL NOT BE  EFFEC-
TIVE  UNLESS  A CERTIFIED COPY THEREOF IS MAILED BY REGISTERED OR CERTI-
FIED MAIL TO THE COMMISSIONER AT THE COMMISSIONER'S OFFICE IN ALBANY  AT
LEAST THIRTY DAYS PRIOR TO THE DATE THE LOCAL LAW SHALL TAKE EFFECT.
  7.  CERTIFIED  COPIES OF ANY LOCAL LAW DESCRIBED IN THIS SECTION SHALL
ALSO BE FILED WITH THE COUNTY CLERK OF THE COUNTY OF OTSEGO, THE  SECRE-
TARY  OF STATE AND THE STATE COMPTROLLER WITHIN FIVE DAYS AFTER THE DATE
IT IS DULY ENACTED.
  § 2. This act shall take effect immediately and shall  expire  and  be
deemed repealed on and after December 31, 2022.

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The New York State Senate

senate Bill S7731

Sponsored By

Archive: Last Bill Status - Passed Senate

Your Voice

Actions

Votes

Jul 22, 2020 - floor Vote

Floor Vote: Jul 22, 2020

Jul 22, 2020 - Rules committee Vote

Rules Committee Vote: Jul 22, 2020

Jul 20, 2020 - Investigations and Government Operations committee Vote

Investigations and Government Operations Committee Vote: Jul 20, 2020

S7731 (ACTIVE) - Details

S7731 (ACTIVE) - Summary

S7731 (ACTIVE) - Sponsor Memo

S7731 (ACTIVE) - Bill Text download pdf

Comments

senate Bill S7731

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Sponsored By

James L. Seward

Archive: Last Bill Status - Passed Senate

Your Voice

Actions

Votes

Jul 22, 2020 - floor Vote

Floor Vote: Jul 22, 2020

Jul 22, 2020 - Rules committee Vote

Rules Committee Vote: Jul 22, 2020

Jul 20, 2020 - Investigations and Government Operations committee Vote

Investigations and Government Operations Committee Vote: Jul 20, 2020

S7731 (ACTIVE) - Details

S7731 (ACTIVE) - Summary

S7731 (ACTIVE) - Sponsor Memo

S7731 (ACTIVE) - Bill Text download pdf

Comments