Senate Bill S4289A

2023-2024 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 Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

2023-S4289 - Details

See Assembly Version of this Bill:
A5167
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §253-z, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7945, A10166
2021-2022: S5061, A6059

2023-S4289 - Summary

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

2023-S4289 - Sponsor Memo

2023-S4289 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4289
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 7, 2023
                                ___________
 
 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;  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
 THIS  SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY THIS SECTION. FOR
 
              

2023-S4289A (ACTIVE) - Details

See Assembly Version of this Bill:
A5167
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §253-z, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7945, A10166
2021-2022: S5061, A6059

2023-S4289A (ACTIVE) - Summary

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

2023-S4289A (ACTIVE) - Sponsor Memo

2023-S4289A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4289--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 7, 2023
                                ___________
 
 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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