Senate Bill S432

2025-2026 Legislative Session

Extends the expiration of the mortgage recording tax imposed by the city of Yonkers

download bill text pdf

Sponsored By

Current 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

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2025-S432 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §253-d, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S6822

2025-S432 (ACTIVE) - Summary

Extends the expiration of the mortgage recording tax imposed by the city of Yonkers.

2025-S432 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    432
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
   and when printed to be committed to the  Committee  on  Investigations
   and Government Operations
 
 AN  ACT to amend the tax law, in relation to extending the expiration of
   the mortgage recording tax imposed by the city of Yonkers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 1 of section 253-d of the tax law, as amended
 by chapter 179 of the laws of 2023, is amended to read as follows:
   1. The city of Yonkers, acting through its local legislative body,  is
 hereby  authorized  and empowered to adopt and amend local laws imposing
 in any such city during the period beginning September  first,  nineteen
 hundred ninety-three and ending August thirty-first, two thousand [twen-
 ty-five] TWENTY-SEVEN, a tax of fifty cents for each one hundred dollars
 and  each  remaining  major  fraction thereof of principal debt or obli-
 gation 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 city and recorded on  or  after  the  date
 upon  which such tax takes effect and a tax of fifty cents on such mort-
 gage 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. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01454-01-5

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