This bill has been amended

Bill S6788-2011

Extends provisions of the Wyoming county mortgage recording tax

Extends provisions of the Wyoming county mortgage recording tax from December 1, 2012 until December 1, 2014.

Details

Actions

  • May 8, 2012: ADVANCED TO THIRD READING
  • May 7, 2012: 2ND REPORT CAL.
  • May 2, 2012: 1ST REPORT CAL.702
  • Mar 22, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Investigations and Government Operations - May 2, 2012
Ayes (5): Marcellino, Alesi, Nozzolio, Zeldin, Squadron
Ayes W/R (2): Golden, Peralta
Nays (1): Diaz

Memo

BILL NUMBER:S6788

TITLE OF BILL: An act to amend chapter 185 of the laws of 2005, amending the tax law relating to authorizing the county of Wyoming to impose a county recording tax on obligations secured by a mortgage on real property, in relation to the expiration thereof

PURPOSE: Continues Wyoming County's Mortgage Recording Tax of $.25 per $100 of principal debt or obligation.

SUMMARY OF PROVISIONS: Continues a recording tax on mortgages in Wyoming County.

JUSTIFICATION: On March 13, 2012 the Wyoming County Board of Supervisors unanimously passed a Resolution requesting the State Legislature to extend their taxing authority for a $.25 (per $100) Mortgage Recording Tax. Article IX of the New York State Constitution requires local governments to receive state authorization to maintain the levy, collection and administration of certain local taxes.

LEGISLATIVE HISTORY: S.80 (Volker)/A.312 (Burling) - Chapter 185 of 2005.

LOCAL FISCAL IMPLICATIONS: One-quarter of one percent (0.25%) county line recording tax on mortgages on real property in Wyoming County.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 6788 IN SENATE March 22, 2012 ___________
Introduced by Sen. GALLIVAN -- 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 185 of the laws of 2005, amending the tax law relating to authorizing the county of Wyoming to impose a county recording tax on obligations 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 185 of the laws of 2005, amending the tax law relating to authorizing the county of Wyoming to impose a county recording tax on obligations secured by a mortgage on real property, as amended by chapter 506 of the laws of 2010, 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 December 1, [2012] 2017 when upon such date the provisions of this act shall be deemed repealed. S 2. This act shall take effect immediately.

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