S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6886
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2017
                                ___________
 
 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10478-01-7

 A. 6886                             2
 
 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
 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.
   § 2. This act shall take effect immediately.