senate Bill S3238

2019-2020 Legislative Session

Enacts the "homeowner mortgage refinance relief act"

download bill text pdf

Sponsored By

Current 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
Mar 20, 2019 referred to ways and means
delivered to assembly
passed senate
Mar 04, 2019 advanced to third reading
Feb 28, 2019 2nd report cal.
Feb 27, 2019 1st report cal.177
Feb 05, 2019 referred to investigations and government operations

Votes

view votes

Feb 27, 2019 - Investigations and Government Operations committee Vote

S3238
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Feb 27, 2019

aye wr (1)

S3238 (ACTIVE) - Details

See Assembly Version of this Bill:
A6886
Law Section:
Tax Law
Laws Affected:
Add §253-y, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S3869
2013-2014: S457
2015-2016: S677
2017-2018: S1582

S3238 (ACTIVE) - Summary

Enacts the "homeowner mortgage refinance relief act"; exempts from a local mortgage tax or recording tax mortgagors who are refinancing real property; provides that the commissioner shall promulgate rules and regulations to establish grounds for qualifications, proof and procedure necessary for a mortgagor to obtain such an exemption.

S3238 (ACTIVE) - Sponsor Memo

S3238 (ACTIVE) - Bill Text download pdf


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

                                  3238

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            February 5, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- 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  enacting  the  "homeowner
  mortgage refinance relief act"

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title.  This act shall be known and may be  cited  as
the "homeowner mortgage refinance relief act".
  §  2.  The tax law is amended by adding a new section 253-y to read as
follows:
  § 253-Y. EXEMPT MUNICIPAL MORTGAGE TAX FOR REFINANCES. 1.  EVERY MUNI-
CIPALITY WHICH HAS ENACTED A LOCAL MORTGAGE TAX OR RECORDING TAX  PURSU-
ANT TO THE PROVISIONS OF THIS ARTICLE SHALL GRANT AN EXEMPTION UP TO THE
AMOUNT  OF  THE  ORIGINAL  MORTGAGE FROM SUCH TAX WHERE THE MORTGAGOR IS
REFINANCING HIS OR HER REAL PROPERTY.
  2. THE COMMISSIONER SHALL PROMULGATE NECESSARY AND ADVISABLE RULES AND
REGULATIONS TO ESTABLISH GROUNDS FOR QUALIFICATIONS, PROOF AND PROCEDURE
NECESSARY FOR A MORTGAGOR TO OBTAIN SUCH EXEMPTION.
  § 3. This act shall take effect immediately.   Effective  immediately,
the  addition,  amendment and/or repeal of any rule or regulation neces-
sary for the implementation of  this  act  on  its  effective  date  are
authorized to be made and completed on or before such effective date.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06294-01-9

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