NY State Senate Bill 2025-S4543

Senate Bill S4543

2025-2026 Legislative Session

Extends the mortgage recording tax for Chenango county and relates to the depositing of mortgage recording tax funds into the general fund of the county of Chenango

download bill text pdf

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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 06, 2025	referred to investigations and government operations

2025-S4543 (ACTIVE) - Details

See Assembly Version of this Bill:: A5351
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §2, Chap 376 of 2024; amd §261, Tax L

2025-S4543 (ACTIVE) - Summary

Extends the mortgage recording tax for Chenango county; relates to the depositing of mortgage recording tax funds into the general fund of the county of Chenango.

2025-S4543 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4543

SPONSOR: OBERACKER
 
TITLE OF BILL:

An act to amend chapter 376 of the laws of 2024 amending the tax law
relating to authorizing the county of Chenango to impose an additional
mortgage recording tax, in relation to the effectiveness thereof; and to
amend the tax law, in relation to the depositing of mortgage recording
tax funds into the general fund of the county of Chenango

 
PURPOSE:

To authorize Chenango County to levy an additional mortgage recording
tax of twenty-five cents (25) for each one hundred dollars ($100) of
mortgage value for a two-year period.

 
SUMMARY OF PROVISIONS:

Section 1 - Section 2 of Chapter 376 of the laws of 2024 amending the
tax law relating to authorizing the county of Chango to impose an addi-
tional mortgage tax;

Section 2. This act shall take effect on the sixtieth day after it shall
have become law and shall expire and be deemed repealed December 31,
2027;

Section 3 - Paragraph (p) and (q) of subdivision 1 of section 261 of the
tax law, paragraph (p) as amended by Chapter 479 of the laws of 2022 and
paragraph (q) as amended by Chapter 365 of the laws of 2005, are amended
and a new paragraph (r) is added.

 
JUSTIFICATION:

The Chenango County Board of Supervisors passed Resolution  342-24
requesting the legislation to extend Chenango County's legal authority
pursuant to Tax Law Section 253-z to impose an additional mortgage tax
of twenty-five cents (25) for each one hundred dollars ($100) and each
remaining major fraction thereof to Tax Law section 253(2)(a) and
payment of said tax to the general fund of the County of Chenango pursu-
ant to an amendment to Tax Law section 261(1) or other sections of the
Tax Law as deemed necessary for the period of January 1, 2026 through
December 31, 2027.

 
LEGISLATIVE HISTORY:

New bill

 
LOCAL AND STATE FISCAL IMPLICATIONS:

None to state

 
EFFECTIVE DATE:
This act shall take effect immediately and deemed repealed December 31,
2027.

2025-S4543 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4543
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 6, 2025
                                ___________
 
 Introduced by Sen. OBERACKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN  ACT  to  amend  chapter 376 of the laws of 2024 amending the tax law
   relating to authorizing the county of Chenango to impose an additional
   mortgage recording tax, in relation to the effectiveness thereof;  and
   to  amend  the  tax  law,  in  relation  to the depositing of mortgage
   recording tax funds into the general fund of the county of Chenango
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 2 of chapter 376 of the laws of 2024 amending the
 tax law relating to authorizing the county  of  Chenango  to  impose  an
 additional mortgage recording tax, is amended to read as follows:
   §  2.  This  act  shall take effect on the sixtieth day after shall it
 have become a law and shall expire and be deemed repealed  December  31,
 [2025] 2027.
   § 2. Paragraphs (p) and (q) of subdivision 1 of section 261 of the tax
 law,  paragraph  (p)  as  amended by chapter 479 of the laws of 2022 and
 paragraph (q) as amended by chapter 365 of the laws of 2005, are amended
 and a new paragraph (r) is added to read as follows:
   (p) with respect to the remaining counties of the state except  Catta-
 raugus county which have not suspended the imposition of such additional
 tax  pursuant  to  subdivision two of section two hundred fifty-three of
 this article, to the comptroller to be paid by [him or  her]  THEM  into
 the  general  fund  in  the  state  treasury  to the credit of the state
 purposes account; provided that  money  paid  to  the  comptroller  with
 respect  to  any  such  remaining  county  in  which on the date of such
 payment any mass transportation, airport or aviation, municipal historic
 site, municipal park, community mental health and developmental disabil-
 ities facility, or sewage treatment capital project is being carried out
 by a municipality with state aid, or for which state aid will  be  paid,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08409-02-5

 S. 4543                             2
 
 pursuant  to the provisions of title one of chapter seven hundred seven-
 teen of the laws of nineteen hundred sixty-seven, section 17.05  of  the
 parks,  recreation  and  historic preservation law, section 41.18 of the
 mental hygiene law, or section 17-1903 of the environmental conservation
 law, shall be applied by [him or her] THEM to increase the amount of aid
 for  which  the  state  is  obligated in respect to such project on such
 date, provided that any such increase in state  aid  may  not,  together
 with any federal funds paid or to be paid on account of the cost of such
 project,  exceed  the  total  cost thereof, and where more than one such
 capital project is being carried out on such date  within  such  county,
 the  application  of  such  monies by the comptroller shall be pro-rated
 among such municipalities on the basis  of  the  respective  amounts  of
 state aid which are so obligated on such date; [and] (q) with respect to
 the county of Cattaraugus, to the comptroller to be paid by [him or her]
 THEM  into  the  general fund in the state treasury to the credit of the
 state purposes account for the construction of a county office  building
 and a county department of public works office building, or debt service
 thereon  being  carried  out  by the county of Cattaraugus up to but not
 exceeding the total cost for such  county  office  building  and  county
 department  of  public  works building, or debt service thereon less the
 amount of any state aid or federal funds paid or to be paid  on  account
 of  such project or debt service thereon[.]; AND (R) WITH RESPECT TO THE
 COUNTY OF CHENANGO, TO THE COUNTY TREASURER OF SUCH COUNTY  FOR  DEPOSIT
 INTO THE GENERAL FUND OF THE COUNTY OF CHENANGO.
   § 3. This act shall take effect immediately.

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