Extends the authorization for the county of Greene to impose an additional mortgage recording tax until 2014.
Ayes (56): Addabbo, Alesi, Bonacic, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Duane, Farley, Flanagan, Fuschillo, Gallivan, Gianaris, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Johnson, Kennedy, Klein, Krueger, Lanza, Larkin, LaValle, Libous, Little, Marcellino, Martins, Maziarz, McDonald, Montgomery, Nozzolio, O'Mara, Oppenheimer, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Saland, Sampson, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Valesky, Young, Zeldin
Nays (2): Avella, Ball
Absent (1): Espaillat
Excused (2): Adams, Huntley
TITLE OF BILL: An act to amend chapter 218 of the laws of 2009 amending the tax law relating to authorizing the county of Greene to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
PURPOSE: The purpose of the bill is to extend provisions authorizing Greene County to impose an additional mortgage recording tax for two years.
SUMMARY OF PROVISIONS: Amends section 2 of chapter 218 of the laws of 2009 to authorize Greene County to enact a mortgage recording tax of fifty cents for each one hundred dollars of debt until December 1, 2014.
EXISTING LAW: The current authorization expires on December 1, 2012.
JUSTIFICATION: The Greene County Legislature has requested the introduction of this legislation by resolution 13-12 of 2012, adopted January 20, 2012. This is a home rule request by the duly elected representatives of the people.
Given the cost of Medicaid, pension contributions and health insurance, among other expenses, and the property tax cap, the county seeks continued authority to impose a mortgage recording tax at local option.
This is the first time the county has requested an extension of the law.
LEGISLATIVE HISTORY: Chapter 218 of the laws of 2009
FISCAL IMPLICATIONS: None to state.
EFFECTIVE DATE: Immediately.
STATE OF NEW YORK ________________________________________________________________________ 6313 IN SENATE January 24, 2012 ___________Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend chapter 218 of the laws of 2009 amending the tax law relating to authorizing the county of Greene to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2 of chapter 218 of the laws of 2009 amending the tax law relating to authorizing the county of Greene to impose an addi- tional mortgage recording tax, is amended to read as follows: S 2. This act shall take effect on the sixtieth day after it shall have become a law and shall expire and be deemed repealed December 1,
2014. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14159-01-2