Bill S4620-2013

Extends an additional real estate transfer tax within the county of Columbia until 2015

Extends an additional real estate transfer tax within the county of Columbia until 2015.

Details

Actions

  • Jun 21, 2013: SUBSTITUTED BY A6827
  • Jun 4, 2013: ADVANCED TO THIRD READING
  • Jun 3, 2013: 2ND REPORT CAL.
  • May 30, 2013: 1ST REPORT CAL.875
  • May 13, 2013: COMMITTEE DISCHARGED AND COMMITTED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Apr 16, 2013: REFERRED TO LOCAL GOVERNMENT

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Investigations and Government Operations - May 30, 2013
Ayes (7): Marcellino, Carlucci, Golden, Nozzolio, O'Mara, Hoylman, Squadron
Ayes W/R (1): Zeldin
Excused (1): Diaz

Memo

BILL NUMBER:S4620

TITLE OF BILL: An act to amend chapter 556 of the laws of 2007 relating to imposing an additional real estate transfer tax within the county of Columbia, in relation to extending the provisions of such chapter

PURPOSE:

This bill will extend the authorization for an additional real estate transfer tax in Columbia County until December 31, 2015.

SUMMARY OF PROVISIONS:

Section 1 amends section 2 of Chapter 556 of the Laws of 2007 to provide for the extension of the repeal date through 2015.

Section 2 sets forth an immediate effective date.

JUSTIFICATION:

The Columbia County Board of Supervisors requested legislation to enable the county to impose an additional transfer tax to be used toward the financing of the county's capital expenditures and public improvement projects. Since 2007, the county has collected this tax and has reduced its dependence on the real property tax to address their fiscal needs. This bill will allow the County to continue to impose this tax.

LEGISLATIVE HISTORY:

Chapter 474 of the Laws of 2011 Chapter 193 of the Laws of 2009

FISCAL IMPLICATIONS:

None.

LOCAL FISCAL IMPLICATIONS:

Allows the county to continue to collect an additional transfer tax at the rate of $1 per $500 on real property conveyances. Exempts the first $150,000 on the sale of a single family residence.

EFFECTIVE DATE:

Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 4620 2013-2014 Regular Sessions IN SENATE April 16, 2013 ___________
Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend chapter 556 of the laws of 2007 relating to imposing an additional real estate transfer tax within the county of Columbia, in relation to extending the provisions of such chapter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2 of chapter 556 of the laws of 2007 relating to imposing an additional real estate transfer tax within the county of Columbia, as amended by chapter 474 of the laws of 2011, is amended to read as follows: S 2. This act shall take effect immediately and shall expire and be deemed repealed on December 31, [2013] 2015. S 2. This act shall take effect immediately.

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