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Senate Bill S8555

2025-2026 Legislative Session

Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund

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Current Bill Status - In Senate Committee Rules Committee

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2025-S8555 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Suffolk County
Laws Affected:
Amd §5, Chap 282 of 2003

2025-S8555 (ACTIVE) - Summary

Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund until 2045.

2025-S8555 (ACTIVE) - Sponsor Memo

2025-S8555 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8555
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             October 29, 2025
                                ___________
 
 Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend chapter 282 of the laws of 2003, amending the  town  law
   relating  to  authorizing  the  town  of  Brookhaven, in the county of
   Suffolk, to establish a community preservation fund and  amending  the
   tax  law  relating  to  authorizing  such town to impose a real estate
   transfer tax with revenues therefrom to be deposited in such community
   preservation fund, in relation to the effectiveness thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 5 of chapter 282 of the laws of 2003, amending the
 town law relating to authorizing the town of Brookhaven, in  the  county
 of  Suffolk, to establish a community preservation fund and amending the
 tax law relating to authorizing such town to impose a real estate trans-
 fer tax with revenues therefrom to be deposited in such community  pres-
 ervation fund, is amended to read as follows:
   §  5.  This  act  shall take effect immediately; provided that article
 31-B of the tax law, as added by section three of this act, shall remain
 in full force and effect until December 31, [2025] 2045 when  upon  such
 date  the  provisions of such section three of this act shall expire and
 be deemed repealed, provided however, that the tax authorized by section
 three of this act shall not take effect before July 1, 2003.
   § 2. This act shall take effect immediately; provided,  however,  that
 if  this  act shall have become a law on or after December 31, 2025 this
 act shall take effect immediately and shall be deemed to  have  been  in
 full force and effect on and after December 31, 2025.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13914-01-5

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