Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 14, 2010 |
referred to investigations and government operations |
Senate Bill S7467
2009-2010 Legislative Session
Sponsored By
(R, C, Ind) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-S7467 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10666
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §253-y, amd §261, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S3926, A6228
2013-2014: S5487
2009-S7467 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7467 TITLE OF BILL : An act to amend the tax law, in relation to authorizing the county of Chemung to impose an additional mortgage recording tax and authorizing such county to expend the existing mortgage recording tax on necessary county services; and providing for the repeal of such provisions upon expiration thereof PURPOSE : To authorize Chemung County to impose an additional .25% mortgage recording tax and expend the existing mortgage recording tax on county services for a 3 year period. SUMMARY OF PROVISIONS : Section 1 amends the tax law by adding a new section 253-y to allow Chemung County to impose an additional .25 % mortgage recording tax. A new Section 253-y(2) is enacted to provide that the taxes so imposed shall be collected and administered in the same manner as previously established under subdivision one of section 253. Section 253-y(3) refers to the method of calculation for the mortgage recording tax when the real property is situated partially within Chemung County and other adjacent counties or when the property is partially within Chemung county and partially outside the state's borders. When the property is both within and without, the county where the mortgage is
2009-S7467 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 7467 A. 10666 S E N A T E - A S S E M B L Y April 14, 2010 ___________ IN SENATE -- Introduced by Sen. WINNER -- 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. O'MARA -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to authorizing the county of Chemung to impose an additional mortgage recording tax and authorizing such county to expend the existing mortgage recording tax on necessary county services; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 253-y to read as follows: S 253-Y. RECORDING TAX IMPOSED BY THE COUNTY OF CHEMUNG. 1. CHEMUNG COUNTY, ACTING THROUGH ITS LOCAL LEGISLATIVE BODY, IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND LOCAL LAWS IMPOSING IN SUCH COUNTY A TAX OF TWENTY-FIVE CENTS FOR EACH ONE HUNDRED DOLLARS AND EACH REMAINING MAJOR FRACTION THEREOF OF PRINCIPAL DEBT OR OBLIGATION WHICH IS OR UNDER ANY CONTINGENCY MAY BE SECURED AT THE DATE OF EXECUTION THEREOF, OR AT ANY TIME THEREAFTER, BY A MORTGAGE ON REAL PROPERTY SITUATED WITHIN SUCH COUNTY AND RECORDED ON OR AFTER THE DATE UPON WHICH SUCH TAX TAKES EFFECT AND A TAX OF TWENTY-FIVE CENTS ON SUCH MORTGAGE IF THE PRINCIPAL DEBT OR OBLIGATION WHICH IS OR BY ANY CONTINGENCY MAY BE SECURED BY SUCH MORTGAGE IS LESS THAN ONE HUNDRED DOLLARS. 2. THE TAXES IMPOSED UNDER THE AUTHORITY OF THIS SECTION SHALL BE ADMINISTERED AND COLLECTED IN THE SAME MANNER AS THE TAXES IMPOSED UNDER SUBDIVISION ONE OF SECTION TWO HUNDRED FIFTY-THREE AND PARAGRAPH (B) OF SUBDIVISION ONE OF SECTION TWO HUNDRED FIFTY-FIVE OF THIS ARTICLE. EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, ALL THE PROVISIONS OF THIS ARTICLE RELATING TO OR APPLICABLE TO THE ADMINISTRATION AND COLLECTION OF THE TAXES IMPOSED BY SUCH SUBDIVISIONS SHALL APPLY TO THE TAXES IMPOSED UNDER THE AUTHORITY OF THIS SECTION WITH SUCH MODIFICATIONS AS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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