Bill S7736-2009

Extends until December 1, 2012 the authorization of the county of Wyoming to impose a recording tax on obligations secured by a mortgage on real property

Extends until December 1, 2012 the authorization of the county of Wyoming to impose a recording tax on obligations secured by a mortgage on real property.

Details

Actions

  • Jun 24, 2010: SUBSTITUTED BY A10979
  • Jun 24, 2010: ORDERED TO THIRD READING CAL.1183
  • Jun 15, 2010: REPORTED AND COMMITTED TO RULES
  • Jun 3, 2010: REPORTED AND COMMITTED TO FINANCE
  • May 5, 2010: REFERRED TO LOCAL GOVERNMENT

Votes

VOTE: COMMITTEE VOTE: - Local Government - Jun 3, 2010
Ayes (6): Stewart-Cousins, Oppenheimer, Valesky, Thompson, Johnson C, Little
Ayes W/R (1): Bonacic
Excused (1): Morahan
VOTE: COMMITTEE VOTE: - Rules - Jun 24, 2010
Ayes (21): Smith, Espada, Stachowski, Montgomery, Duane, Hassell-Thompson, Krueger, Serrano, Stewart-Cousins, Dilan, Klein, Valesky, Skelos, Johnson O, Padavan, Volker, Farley, Seward, Hannon, Larkin, Saland
Ayes W/R (1): LaValle
Nays (1): Parker

Memo

 BILL NUMBER:  S7736

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 : To generate revenue in Wyoming County and to free the financial burden placed on real property taxpayers.

SUMMARY OF PROVISIONS : This act would amend 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 70 of the laws of 2008, to read as follows, "this act shall take effect on the thirtieth day after it shall have become a law and shall expire December 1, (2010) 2012 when upon such date the provisions of this act shall be deemed repealed".

JUSTIFICATION : By allowing Wyoming County to continue their tax collection on mortgages various projects such as road repair and maintenance would be able to be completed with little effect on its citizens.

FISCAL IMPLICATIONS : None to the State.

EFFECTIVE DATE : Immediately.

Text

STATE OF NEW YORK ________________________________________________________________________ 7736 IN SENATE May 5, 2010 ___________
Introduced by Sen. VOLKER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government 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 79 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 December 1, [2010] 2012 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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