senate Bill S5061A

2021-2022 Legislative Session

Relates to authorizing the county of Otsego to impose an additional mortgage recording tax of 25 cents per $100 of principal debt

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Investigations And Government Operations Committee


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to investigations and government operations
Jun 01, 2021 print number 5061a
Jun 01, 2021 amend (t) and recommit to investigations and government operations
Feb 22, 2021 referred to investigations and government operations

S5061 - Details

See Assembly Version of this Bill:
A6059
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §253-z, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7945, A10166

S5061 - Summary

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

S5061 - Sponsor Memo

S5061 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5061
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 22, 2021
                                ___________
 
 Introduced by Sen. OBERACKER -- 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

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

S5061A (ACTIVE) - Details

See Assembly Version of this Bill:
A6059
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §253-z, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7945, A10166

S5061A (ACTIVE) - Summary

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

S5061A (ACTIVE) - Sponsor Memo

S5061A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5061--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 22, 2021
                                ___________
 
 Introduced by Sen. OBERACKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment   Operations  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 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 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

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