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This entry was published on 2021-04-23
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SECTION 1423
Modernization of real property transfer reporting
Tax (TAX) CHAPTER 60, ARTICLE 31
§ 1423. Modernization of real property transfer reporting. (a)
Notwithstanding any provision of law to the contrary, the commissioner
is hereby authorized to implement a system for the electronic collection
of data relating to transfers of real property. In connection therewith,
the commissioner may combine the two forms referred to in paragraph one
of this subdivision into a consolidated real property transfer form to
be filed with him or her electronically; provided:

(1) The two forms that may be so combined are the real estate transfer
tax return required by section fourteen hundred nine of this article,
and the real property transfer report required by subdivision one-e of
section three hundred thirty-three of the real property law. However,
the commissioner shall continue to maintain both such return and such
report as separate forms, so that a party who prefers not to file a
consolidated real property transfer form with the commissioner
electronically shall have the option of filing both such return and such
report with the recording officer, as otherwise provided by law. Under
no circumstances shall a consolidated real property transfer form be
filed with, or accepted by, the recording officer.

(2) Notwithstanding the provisions of section fourteen hundred
eighteen of this article, any information appearing on a consolidated
real property transfer form that is required to be included on the real
property transfer report required by subdivision one-e of section three
hundred thirty-three of the real property law shall be subject to public
disclosure.

(3) When a consolidated real property transfer form is electronically
submitted to the department by either the grantor or grantee or a duly
authorized agent thereof, the act of submitting such form shall be
deemed to be the signing of the return as required by paragraph (v) of
subdivision one-e of the real property law or subdivision (b) of section
fourteen hundred nine of this article, and the requirement that all the
grantors and grantees shall sign the return shall not apply. However,
the fact that a grantor or grantee has not electronically submitted the
form shall not relieve that grantor or grantee of any liability for the
tax imposed by this article.

(b) When a consolidated real property transfer form is filed with the
commissioner electronically pursuant to this section, the real estate
transfer tax imposed under this article, and the fee that would
otherwise be retained by the recording officer pursuant to subdivision
three of section three hundred thirty-three of the real property law,
shall be paid to the commissioner therewith. The commissioner shall
retain on behalf of the recording officer the portion of such tax that
would otherwise have been retained by the recording officer pursuant to
subdivision (c) of section fourteen hundred seven of this article, and
the portion of such fee that would otherwise have been retained by the
recording officer pursuant to subdivision three of section three hundred
thirty-three of the real property law. The moneys so retained by the
commissioner on behalf of the recording officer, hereinafter referred to
as the recording officer's fees, shall be deposited daily with such
responsible banks, banking houses, or trust companies as may be
designated by the state comptroller. Of the recording officer's fees so
deposited, the comptroller shall retain in the comptroller's hands such
amount as the commissioner may determine to be necessary for refunds or
reimbursements of such fees collected or received pursuant to this
section, out of which the comptroller shall pay any refunds or
reimbursements of such fees to which persons shall be entitled under the
provisions of this section. The comptroller, after reserving such refund
and reimbursement fund shall, on or before the twelfth day of each
month, pay to the appropriate recording officers an amount equal to the
recording officer's fees reserved on their behalf. Provided, however,
that the commissioner is authorized to request that the comptroller
refrain from making such a payment of such fees to a recording officer
until the commissioner has certified to the comptroller that the
recording officer has supplied the commissioner with the liber and page
numbers of the recorded instruments that gave rise to such fees.

(c) The system for the electronic submission of consolidated real
property transfer forms shall be designed so that upon the successful
electronic filing of such a form and the payment of the associated taxes
and fees, the party submitting the same shall be provided with an
electronic receipt in a form prescribed by the commissioner that
confirms such filing and payment. Such party may file a printed copy of
such receipt with the recording officer when offering the associated
instrument for recording, in lieu of submitting to the recording officer
the return, report, tax and fee that would otherwise have been required
under this article and subdivisions one-e and three of section three
hundred thirty-three of the real property law. The recording officer
shall retain such receipt for a minimum of three years, unless otherwise
directed by the commissioner, and shall provide a copy thereof to the
commissioner for inspection upon his or her request.

(d) Upon recording the instrument to which the consolidated real
property transfer form pertains, the recording officer shall provide the
commissioner with the liber and page thereof at such time and in such
manner as the commissioner shall prescribe.

(e) The provisions of this section shall not be applicable within a
city or county that has implemented its own electronic system for the
recording of deeds, the filing of the real estate transfer tax returns
and the real property transfer reports prescribed by the commissioner,
and the payment of the associated taxes and fees, unless such city or
county shall notify the commissioner that such jurisdiction will follow
the system authorized pursuant to this section to be used therein, in
writing.