Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to ways and means |
Feb 22, 2011 |
print number 202a |
Feb 22, 2011 |
amend (t) and recommit to ways and means |
Jan 05, 2011 |
referred to ways and means |
Assembly Bill A202
2011-2012 Legislative Session
Sponsored By
LANCMAN
Archive: Last Bill Status - In Assembly 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
Bill Amendments
2011-A202 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §253-y, Tax L
- Versions Introduced in 2009-2010 Legislative Session:
-
A1256
2011-A202 - Summary
Enacts the "homeowner mortgage refinance relief act"; exempts from a local mortgage tax or recording tax mortgagors who are refinancing real property; provides that the commissioner shall promulgate rules and regulations to establish grounds for qualifications, proof and procedure necessary for a mortgagor to obtain such an exemption.
2011-A202 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 202 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. LANCMAN -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law, in relation to enacting the "bad loan escape act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "bad loan escape act". S 2. The tax law is amended by adding a new section 253-y to read as follows: S 253-Y. EXEMPT MUNICIPAL MORTGAGE TAX FOR REFINANCES. 1. EVERY MUNI- CIPALITY WHICH HAS ENACTED A LOCAL MORTGAGE TAX OR RECORDING TAX PURSU- ANT TO THE PROVISIONS OF THIS ARTICLE SHALL GRANT AN EXEMPTION UP TO THE AMOUNT OF THE ORIGINAL MORTGAGE FROM SUCH TAX WHERE THE MORTGAGOR IS REFINANCING HIS OR HER REAL PROPERTY. 2. THE COMMISSIONER SHALL PROMULGATE NECESSARY AND ADVISABLE RULES AND REGULATIONS TO ESTABLISH GROUNDS FOR QUALIFICATIONS, PROOF AND PROCEDURE NECESSARY FOR A MORTGAGOR TO OBTAIN SUCH EXEMPTION. S 3. This act shall take effect immediately; provided, however, that effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effec- tive date are authorized and directed to be made and completed on or before such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01236-01-1
2011-A202A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §253-y, Tax L
- Versions Introduced in 2009-2010 Legislative Session:
-
A1256
2011-A202A (ACTIVE) - Summary
Enacts the "homeowner mortgage refinance relief act"; exempts from a local mortgage tax or recording tax mortgagors who are refinancing real property; provides that the commissioner shall promulgate rules and regulations to establish grounds for qualifications, proof and procedure necessary for a mortgagor to obtain such an exemption.
2011-A202A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 202--A 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. LANCMAN -- read once and referred to the Commit- tee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to enacting the "homeowner mortgage refinance relief act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "homeowner mortgage refinance relief act". S 2. The tax law is amended by adding a new section 253-y to read as follows: S 253-Y. EXEMPT MUNICIPAL MORTGAGE TAX FOR REFINANCES. 1. EVERY MUNI- CIPALITY WHICH HAS ENACTED A LOCAL MORTGAGE TAX OR RECORDING TAX PURSU- ANT TO THE PROVISIONS OF THIS ARTICLE SHALL GRANT AN EXEMPTION UP TO THE AMOUNT OF THE ORIGINAL MORTGAGE FROM SUCH TAX WHERE THE MORTGAGOR IS REFINANCING HIS OR HER REAL PROPERTY. 2. THE COMMISSIONER SHALL PROMULGATE NECESSARY AND ADVISABLE RULES AND REGULATIONS TO ESTABLISH GROUNDS FOR QUALIFICATIONS, PROOF AND PROCEDURE NECESSARY FOR A MORTGAGOR TO OBTAIN SUCH EXEMPTION. S 3. This act shall take effect immediately; provided, however, that effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effec- tive date are authorized and directed to be made and completed on or before such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01236-02-1
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