Bill S6763-2009

Extends the effectiveness of chapter 405 of the laws of 2005 for two years

Details

Actions

  • Jul 30, 2010: SIGNED CHAP.291
  • Jul 19, 2010: DELIVERED TO GOVERNOR
  • Jun 15, 2010: returned to senate
  • Jun 15, 2010: passed assembly
  • Jun 15, 2010: home rule request
  • Jun 15, 2010: ordered to third reading cal.954
  • Jun 15, 2010: substituted for a9828
  • Jun 2, 2010: referred to ways and means
  • Jun 1, 2010: DELIVERED TO ASSEMBLY
  • Jun 1, 2010: PASSED SENATE
  • Jun 1, 2010: HOME RULE REQUEST
  • May 25, 2010: ADVANCED TO THIRD READING
  • May 24, 2010: 2ND REPORT CAL.
  • May 18, 2010: 1ST REPORT CAL.565
  • Apr 27, 2010: REPORTED AND COMMITTED TO FINANCE
  • Feb 3, 2010: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Votes

VOTE: COMMITTEE VOTE: - Investigations and Government Operations - Apr 27, 2010
Ayes (7): Johnson C, Stachowski, Diaz, Klein, Espada, Winner, Golden
Ayes W/R (1): Nozzolio

Memo

BILL NUMBER:S6763

TITLE OF BILL: An act to amend chapter 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real property, in relation to extending the effectiveness thereof

PURPOSE: Extends the effectiveness of chapter 411 of the laws of 2008 for two years.

SUMMARY OF PROVISIONS: Amends chapter 411 of 2008, extending the sunset from December 1, 2010 to December 1, 2012.

JUSTIFICATION: Currently, the county of Albany's mortgage recording tax is slated to sunset on December 1, 2010. In order for the county to continue generating revenue, the sunset must be extended. By imposing a tax of twentyfive cents for each one hundred dollars secured by a mortgage in Albany County, this measure would help generate revenue for the County and help to relieve the burdens placed on local taxpayers.

LEGISLATIVE HISTORY: 2008: Chapter 411 2006: Chapter 477 2005: Chapter 405

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ S. 6763 A. 9828 S E N A T E - A S S E M B L Y February 3, 2010 ___________
IN SENATE -- Introduced by Sen. BRESLIN -- read twice and ordered print- ed, and when printed to be committed to the Committee on Investi- gations and Government Operations IN ASSEMBLY -- Introduced by M. of A. CANESTRARI, McENENY -- read once and referred to the Committee on Ways and Means AN ACT to amend chapter 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real property, 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 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real property, as amended by chapter 411 of the laws of 2008, is amended to read as follows: S 2. This act shall take effect on the thirtieth day after it shall have become a law and shall expire and be deemed repealed on the first of December, [2010] 2012. S 2. This act shall take effect immediately.

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