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Sponsors
1 Co-sponsor
History
- Substituted by S6763
- Advanced to third reading cal.954
- Reported
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Extends the effectiveness of chapter 405 of the laws of 2005 for two years
Signed by Governor · Sponsor Neil D. Breslin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A9828
Title of bill
An act to amend chapter 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real prop- erty, in relation to extending the effectiveness thereof
Purpose
Extends the effectiveness of chapter 411 of the laws of 2008 for two years.
Summary of provisions
Amends chapter 411 of 2008, extending the sunset from December 1, 2010 to December 1, 2012.
Justification
Currently, the county of Albany's mortgage recording tax is slated to sunset on December 1, 2010. In order for the county to continue generating revenue, the sunset must be extended. By imposing a tax of twenty-five cents for each one hundred dollars secured by a mort- gage in Albany County, this measure would help generate revenue for the County and help to relieve the burdens placed on local tax payers.
Legislative history
2008: Chapter 421 2006: Chapter 477 2005: Chapter 405
Fiscal implications
None to the State.
EFFECTIVE DATE:Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.