assembly Bill A7711

Signed By Governor
2019-2020 Legislative Session

Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt

download bill text pdf

Sponsored By

Current Bill Status Via S5672 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 03, 2019 signed chap.332
Oct 01, 2019 delivered to governor
Jun 20, 2019 returned to senate
passed assembly
home rule request
ordered to third reading rules cal.554
substituted for a7711
Jun 20, 2019 substituted by s5672
Jun 18, 2019 ordered to third reading rules cal.554
rules report cal.554
reported
reported referred to rules
May 17, 2019 referred to ways and means

A7711 (ACTIVE) - Details

See Senate Version of this Bill:
S5672
Law Section:
Tax Law
Laws Affected:
Add §253-y, Tax L

A7711 (ACTIVE) - Summary

Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt.

A7711 (ACTIVE) - Bill Text download pdf


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

                                  7711

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                              May 17, 2019
                               ___________

Introduced  by M. of A. SALKA -- read once and referred to the Committee
  on Ways and Means

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.