S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9906

                          I N  A S S E M B L Y

                             April 26, 2016
                               ___________

Introduced  by M. of A. GALEF -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to the allocation  of  mortgage
  recording tax in the town of Ossining, county of Westchester

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 3 of section 261 of the tax law, as amended  by
chapter 287 of the laws of 2006, is amended to read as follows:
  3.  On  or before the tenth day of each month the recording officer of
each county shall pay over to the county treasurer of said  county,  and
in  the  counties  of New York, Kings, Queens, Richmond and Bronx to the
commissioner of finance of the city of New York for credit to the gener-
al fund of such city, the balance of  the  moneys  received  during  the
preceding  month  upon  account  of  taxes  paid to him or her as herein
prescribed, after deducting the necessary expenses of his or her  office
as  provided  in  section  two hundred sixty-two of this article, except
taxes paid upon mortgages which under  the  provisions  of  section  two
hundred sixty of this article are first to be apportioned by the commis-
sioner,  which taxes and money shall be paid over by the commissioner of
finance of the city of New York as provided by the determination of  the
commissioner.  In each county not within the city of New York, the whole
of the net amount of such balance, after the  deduction  by  the  county
treasurer  of  the  necessary  expenses of his or her office provided in
section two hundred sixty-two of this article, shall be held by  him  or
her  and shall be allocated to the tax districts of the county according
to the location of the real property covered by the respective mortgages
upon which the tax was collected. The recording officer and county trea-
surer shall  prepare  a  joint  semi-annual  report  on  or  before  May
fifteenth  and  on or before November fifteenth in each year showing the
amounts to be credited to each tax district of the county of the  moneys
collected  under this article during the preceding periods of six months
each which ended respectively on March thirty-first and September  thir-
tieth.  Such  report  shall  be made in duplicate in accordance with the
rules and regulations of the commissioner and filed with  the  clerk  of

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD15027-01-6

A. 9906                             2

the board of supervisors and the commissioner. The board of supervisors,
on  or  before  the fifteenth day of June and on or before the fifteenth
day of December in each year, shall issue its warrant for the payment to
the  respective  tax  districts  of  the  amounts so credited, provided,
however, that in a county in which a town contains within its limits  an
incorporated village, or portion thereof, the board of supervisors shall
apportion  to  such village so much of the share credited to the town as
the assessed value of said village or portion thereof bears to twice the
total assessed valuation of the town, and provided,  further,  that,  at
the  option of the governing board of the county, the county may instead
prepare and file such a joint report and make such payments on a monthly
or quarterly basis. Where the county elects to  make  monthly  payments,
the  recording officer and county treasurer shall prepare a joint report
on or before the fifteenth day of each month showing the amounts  to  be
credited  to  each  tax  district of the county and the moneys collected
under this article for the month preceding the most  recently  concluded
month,  and the board of supervisors shall issue its warrant for payment
on or before the fifteenth day of the following month. Where the  county
elects  to  make  quarterly  payments,  the recording officer and county
treasurer shall prepare such a joint report on or before  the  fifteenth
day  of  May,  August, November, and February, showing the amounts to be
credited to each tax district of the county of  moneys  collected  under
this  article  for the preceding three-month period ending March thirty-
first, June thirtieth, September thirtieth, and  December  thirty-first,
respectively  and  the  board of supervisors shall issue its warrant for
payment on or before the fifteenth day of June, September, December, and
March, respectively. The warrant shall direct payment to the city treas-
urer of the amount due the city, to the town supervisor  of  the  amount
due  the  town,  and to the village treasurer of the amount to which the
village shall be entitled. Mortgage tax moneys allotted to cities, towns
and villages shall be applied to the payment  of  the  general  expenses
thereof.  The  commissioner shall prescribe the method of adjustment and
correction of errors heretofore or hereafter made in the distribution of
moneys collected under this article.  PROVIDED, HOWEVER THAT IN THE TOWN
OF OSSINING, COUNTY OF WESTCHESTER, MONIES  DUE  TO  THE  UNINCORPORATED
PORTION  OF  THE  TOWN  SHALL  BE PLACED IN THE UNINCORPORATED TOWN FUND
INSTEAD OF INTO THE GENERAL FUND OF SUCH TOWN.
  S 2. This act shall take effect immediately.