A202A-2011 Actions

• Jan 4, 2012: referred to ways and means
• Feb 22, 2011: print number 202a
• Feb 22, 2011: amend (t) and recommit to ways and means
• Jan 5, 2011: referred to ways and means

A202A-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 202--A
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 (PREFILED)
 January 5, 2011
 
 Introduced  by M. of A. LANCMAN -- read once and referred to the Commit
 tee on Ways and Means -- committee discharged, bill  amended,  ordered
 reprinted as amended and recommitted to said committee
 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".
 

S 2. The tax law is amended by adding a new section 253-y to  read  as
 follows:

 

S 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.
 

S  3.  This act shall take effect immediately; provided, however, that
 effective immediately, the addition, amendment and/or repeal of any rule
 or regulation necessary for the implementation of this act on its effec
 tive date are authorized and directed 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.
 LBD01236-02-1

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