Bill S6549-2013

Relates to a Herkimer county recording tax to be imposed on the obligation secured by a mortgage on real property

Relates to a Herkimer county recording tax to be imposed on the obligation secured by a mortgage on real property; expires on 12/1/2016.

Details

Actions

  • Feb 4, 2014: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S6549

TITLE OF BILL: An act to amend chapter 549 of the laws of 2005 amending the tax law relating to authorizing the county of Herkimer to impose a county recording tax on obligation secured by a mortgage on real property, in relation to the expiration thereof

PURPOSE:

To extend provisions authorizing Herkimer County to impose an additional mortgage recording tax of twenty-five cents for each one hundred dollars of debt until December 1, 2016.

SUMMARY OF PROVISIONS:

Section one - amends section 2 of chapter 549 of the laws of 2005 to authorize Herkimer County to enact a mortgage recording tax of twentyfive cents for each one hundred dollars of debt until December 1, 2016.

Section two - provides the effective date.

EXISTING LAW:

The current authorization expires on December 1, 2014.

JUSTIFICATION:

The Herkimer County Legislature has requested the introduction of this legislation by local resolution 46.

LEGISLATIVE HISTORY:

New bill. Formerly S. 6873 of 2011.

FISCAL IMPLICATIONS:

None to the state.

EFFECTIVE DATE:

Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 6549 IN SENATE February 4, 2014 ___________
Introduced by Sens. SEWARD, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend chapter 549 of the laws of 2005 amending the tax law relating to authorizing the county of Herkimer to impose a county recording tax on obligation secured by a mortgage on real property, in relation to the expiration 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 549 of the laws of 2005 amending the tax law relating to authorizing the county of Herkimer to impose a coun- ty recording tax on obligation secured by a mortgage on real property, as amended by chapter 234 of the laws of 2012, is amended to read as follows: S 2. This act shall take effect immediately and shall expire and be deemed repealed on December 1, [2014] 2016. S 2. This act shall take effect immediately.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Discuss!

blog comments powered by Disqus