S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5672
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2019
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation to authorizing  the  county  of
   Madison  to impose an additional mortgage recording tax; and providing
   for the repeal of such provisions upon the 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:
   § 253-Y. RECORDING TAX IMPOSED BY THE COUNTY OF  MADISON.  1.  MADISON
 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 MODIFICA-
 TIONS AS MAY BE NECESSARY TO ADAPT SUCH  LANGUAGE TO THE TAX SO  AUTHOR-
 IZED.  SUCH PROVISIONS SHALL APPLY WITH THE SAME  FORCE AND EFFECT AS IF
 THOSE PROVISIONS HAD BEEN SET FORTH IN FULL IN THIS  SECTION  EXCEPT  TO
 THE  EXTENT  THAT  ANY PROVISION IS EITHER INCONSISTENT WITH A PROVISION
 OF THIS SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY  THIS  SECTION.
              

 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11407-01-9

 S. 5672                             2
 
 FOR  PURPOSES  OF THIS SECTION, ANY REFERENCE IN THIS ARTICLE TO THE TAX
 OR TAXES IMPOSED BY THIS ARTICLE SHALL BE  DEEMED  TO  REFER  TO  A  TAX
 IMPOSED PURSUANT TO THIS SECTION, AND ANY REFERENCE TO THE PHRASE "WITH-
 IN  THIS  STATE"  SHALL  BE  READ  AS  "WITHIN MADISON COUNTY", UNLESS A
 DIFFERENT MEANING IS CLEARLY  REQUIRED.
   3. WHERE THE REAL PROPERTY COVERED BY THE MORTGAGE SUBJECT TO THE  TAX
 IMPOSED  PURSUANT  TO  THE AUTHORITY OF THIS SECTION IS SITUATED IN THIS
 STATE BUT WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE AMOUNT OF
 SUCH TAX  DUE AND PAYABLE TO SUCH COUNTY SHALL BE DETERMINED IN A MANNER
 SIMILAR TO   THAT PRESCRIBED IN  THE  FIRST  UNDESIGNATED  PARAGRAPH  OF
 SECTION  TWO  HUNDRED SIXTY OF THIS ARTICLE WHICH CONCERNS REAL PROPERTY
 SITUATED IN TWO OR MORE  COUNTIES. WHERE SUCH PROPERTY IS SITUATED  BOTH
 WITHIN SUCH COUNTY AND  WITHOUT THE STATE, THE AMOUNT DUE AND PAYABLE TO
 SUCH  COUNTY  SHALL BE DETERMINED IN THE MANNER PRESCRIBED IN THE SECOND
 UNDESIGNATED PARAGRAPH OF SUCH SECTION TWO HUNDRED SIXTY WHICH  CONCERNS
 PROPERTY  SITUATED WITHIN  AND WITHOUT THE STATE. WHERE REAL PROPERTY IS
 SITUATED WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE  RECORDING
 OFFICER  OF  THE  JURISDICTION IN WHICH   THE MORTGAGE IS FIRST RECORDED
 SHALL BE REQUIRED TO  COLLECT  THE  TAXES  IMPOSED    PURSUANT  TO  THIS
 SECTION.
   4. A TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION SHALL BE IN
 ADDITION TO THE TAXES IMPOSED BY SECTION TWO HUNDRED FIFTY-THREE OF THIS
 ARTICLE.
   5.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY, THE
 BALANCE OF ALL MONEYS PAID TO THE RECORDING OFFICER  OF  THE  COUNTY  OF
 MADISON    DURING EACH MONTH UPON ACCOUNT OF THE TAX IMPOSED PURSUANT TO
 THE AUTHORITY OF THIS SECTION, 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
 THIS  SECTION  OR SECTION TWO HUNDRED SIXTY OF THIS ARTICLE ARE FIRST TO
 BE APPORTIONED BY THE  COMMISSIONER, SHALL BE PAID OVER BY SUCH  OFFICER
 ON OR BEFORE THE TENTH DAY  OF EACH SUCCEEDING MONTH TO THE TREASURER OF
 MADISON COUNTY AND, AFTER THE  DEDUCTION BY SUCH TREASURER OF THE NECES-
 SARY  EXPENSES  OF  HIS  OR  HER  OFFICE PROVIDED IN SECTION TWO HUNDRED
 SIXTY-TWO OF THIS ARTICLE SHALL BE DEPOSITED IN  THE GENERAL FUND OF THE
 COUNTY OF MADISON.  NOTWITHSTANDING  THE  PROVISIONS  OF  THE  PRECEDING
 SENTENCE,  THE  TAX  SO  IMPOSED AND PAID UPON MORTGAGES   COVERING REAL
 PROPERTY SITUATED IN TWO OR MORE COUNTIES, WHICH UNDER THE PROVISIONS OF
 THIS SECTION OR SECTION TWO HUNDRED SIXTY OF THIS ARTICLE ARE  FIRST  TO
 BE  APPORTIONED BY THE COMMISSIONER, SHALL BE PAID OVER BY THE RECORDING
 OFFICER RECEIVING THE SAME AS  PROVIDED  BY  THE  DETERMINATION  OF  THE
 COMMISSIONER.
   6.  ANY  LOCAL  LAW  IMPOSING  A TAX PURSUANT TO THE AUTHORITY OF THIS
 SECTION OR REPEALING OR SUSPENDING SUCH A TAX SHALL TAKE EFFECT ONLY  ON
 THE FIRST DAY OF A  CALENDAR MONTH. SUCH A LOCAL LAW SHALL NOT BE EFFEC-
 TIVE  UNLESS A CERTIFIED  COPY THEREOF IS MAILED BY REGISTERED OR CERTI-
 FIED MAIL TO THE COMMISSIONER AT THE COMMISSIONER'S OFFICE IN ALBANY  AT
 LEAST THIRTY DAYS PRIOR TO THE DATE THE  LOCAL LAW SHALL TAKE EFFECT.
   7.  CERTIFIED  COPIES OF ANY LOCAL LAW DESCRIBED IN THIS SECTION SHALL
 ALSO BE FILED WITH THE COUNTY CLERK OF THE COUNTY OF MADISON, THE SECRE-
 TARY OF STATE  AND THE STATE COMPTROLLER WITHIN FIVE DAYS AFTER THE DATE
 IT IS DULY ENACTED.
   § 2. This act shall take effect immediately and shall  expire  and  be
 deemed repealed December 1, 2022.