Bill S4661-2013

Relates to the mortgage recording tax in the county of Tompkins

Relates to the mortgage recording tax in the county of Tompkins.

Details

Actions

  • Jun 21, 2013: SUBSTITUTED BY A6682
  • Jun 4, 2013: ADVANCED TO THIRD READING
  • Jun 3, 2013: 2ND REPORT CAL.
  • May 30, 2013: 1ST REPORT CAL.880
  • Apr 17, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

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:S4661

TITLE OF BILL: An act to amend the tax law, in relation to the mortgage recording tax in the county of Tompkins

PURPOSE: To authorize the dedication of proceeds from the Tompkins County Mortgage Recording Tax (MRT) "additional tax" to be collected by the county treasurer for mass transportation purposes.

SUMMARY OF PROVISIONS: The bill adds section j-1 to tax law section 261 (1) to authorize the dedication of proceeds from the MRT "additional tax" for mass transportation purposes.

EXISTING LAW: Section 261 (1), section 253 (2) (a) of Tax Law

JUSTIFICATION: The Tompkins County Legislature passed a resolution requesting that the MRT "additional tax" proceeds be dedicated for mass transit, in state law. The county already has authority to raise the " additional tax" under section 253 (2) (a) of Tax Law, for an additional $.25 per $100 of mortgage value.

LEGISLATIVE HISTORY: New legislation.

FISCAL IMPLICATIONS: None to State.

EFFECTIVE DATE: Immediately


Text

STATE OF NEW YORK ________________________________________________________________________ 4661 2013-2014 Regular Sessions IN SENATE April 17, 2013 ___________
Introduced by Sen. O'MARA -- 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 mortgage recording tax in the county of Tompkins THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 261 of the tax law is amended by adding a new paragraph (j-1) to read as follows: (J-1) WITH RESPECT TO THE COUNTY OF TOMPKINS, TO THE COUNTY TREASURER OF SUCH COUNTY FOR MASS TRANSPORTATION PURPOSES; S 2. This act shall take effect immediately.

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