Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 23, 2013 |
signed chap.435 |
Oct 11, 2013 |
delivered to governor |
Jun 21, 2013 |
returned to assembly passed senate 3rd reading cal.1645 substituted for s4532 |
Jun 21, 2013 |
substituted by a4855 ordered to third reading cal.1645 committee discharged and committed to rules |
Apr 08, 2013 |
referred to investigations and government operations |
Senate Bill S4532
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A4855 - Signed by Governor
- 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
Actions
Votes
co-Sponsors
(R, C, IP) Senate District
2013-S4532 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4855
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง258-a, Tax L
2013-S4532 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4532 TITLE OF BILL: An act to amend the tax law, in relation to the treatment of notices filed of the payment of mortgage recording tax on an instrument not entitled to be recorded PURPOSE: To clarify that a notice filed under Tax Law, including a notice recorded under the authority of section 258-a, does not constitute notice to a bona fide purchaser of an interest in real property. SUMMARY OF PROVISIONS: Section 1 of the bill amends section 258-a of the tax law by amending that section to provide that the filing or recording of a notice of payment of tax is Ineffective to give notice under Article 9 of the real property law of an estate or interest in the real property affected by the instrument on which tax is being raid or to create a duty or inquiry with regard thereto. This amendment would take effect immediately and shall apply to notices now or hereafter filed or recorded under section 258-a JUSTIFICATION: Under Tax Law Section 256-a, when mortgage recording tax is being paid on an instrument not entitled to be recorded, but which is not lost or destroyed, the tax may be paid to the recording officer. A copy of the instrument upon which tax is paid "shall be filed with the recording officer and preserved among his mortgage tax records." If, however, the unrecorded instrument has been lost or
2013-S4532 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4532 2013-2014 Regular Sessions I N S E N A T E April 8, 2013 ___________ Introduced by Sen. FLANAGAN -- 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 the treatment of notices filed of the payment of mortgage recording tax on an instrument not entitled to be recorded THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 258-a of the tax law, as amended by chapter 218 of the laws of 1930, is amended to read as follows: S 258-a. Payment of tax on instruments not recorded. An instrument taxable under this article but which is not entitled to be recorded, may nevertheless be presented to the recording officer of the county in which the real property or any part thereof affected by said instrument is situated, and there may be paid to such officer the amount of the tax which would be payable under this article on the recording of such instrument if the same were entitled to be recorded. Such officer shall receive such amount and such payment shall have the same force and effect, so far as this article is concerned, as if such instrument had been duly recorded and the tax thereon paid. It shall be the duty of the recording officer to indorse upon the instrument a receipt for the amount of the tax so paid. A copy of each instrument upon which the tax is paid as above provided shall be filed with the recording officer and preserved among his mortgage tax records. Where an unrecorded instrument subject to the tax imposed by this article has been lost or destroyed, the tax commission, upon presenta- tion of proper proofs, may determine the taxable amount of such instru- ment and by order authorize the recording officer to receive and receipt for such tax as fully and with the same force and effect, so far as this article is concerned, as if the instrument had been duly recorded and the tax thereon paid. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08352-01-3
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