Bill S6925-2013

Extends the effectiveness of chapter 405 of the laws of 2005 for two years relating to authorization for the county of Albany to impose a mortgage recording tax

Extends the effectiveness of chapter 405 of the laws of 2005 for two years authorizing the county of Albany to impose a county mortgage recording tax.

Details

Actions

  • Aug 7, 2014: SIGNED CHAP.234
  • Aug 1, 2014: DELIVERED TO GOVERNOR
  • Jun 19, 2014: returned to senate
  • Jun 19, 2014: passed assembly
  • Jun 19, 2014: home rule request
  • Jun 19, 2014: ordered to third reading cal.849
  • Jun 19, 2014: substituted for a9218
  • Jun 19, 2014: referred to ways and means
  • Jun 19, 2014: DELIVERED TO ASSEMBLY
  • Jun 19, 2014: PASSED SENATE
  • May 19, 2014: ADVANCED TO THIRD READING
  • May 14, 2014: 2ND REPORT CAL.
  • May 13, 2014: 1ST REPORT CAL.687
  • Apr 2, 2014: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Investigations and Government Operations - May 13, 2014
Ayes (8): Marcellino, Carlucci, Golden, Nozzolio, O'Mara, Hoylman, Diaz, Squadron
Ayes W/R (1): Zeldin

Memo

BILL NUMBER:S6925

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 311 of the laws of 2012 for two years.

SUMMARY OF PROVISIONS: Amends chapter 311 of 2012, extending the sunset from December 1, 2014 to December 1, 2016.

JUSTIFICATION: Currently, the county of Albany's mortgage recording tax is slated to sunset on December 1, 2014. In order for the county to continue generating revenue, the sunset must be extended. By imposing a tax of twenty-five 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:

2012: Chapter 311 2010: Chapter 291 2008: Chapter 411 2006: Chapter 477 2005: Chapter 405

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ S. 6925 A. 9218 S E N A T E - A S S E M B L Y April 2, 2014 ___________
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. FAHY, McDONALD, STECK -- 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 311 of the laws of 2012, 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, [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