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Sponsors
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History
- Substituted by A6883
- Advanced to third reading
- 2nd report cal.
- 1st report cal.592
- Referred to investigations and government operations
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 period during which the county of Genesee is authorized to impose a county recording tax on certain mortgage obligation
Signed by Governor · Sponsor Stephen Hawley
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend chapter 579 of the laws of 2004, amending the tax law relating to authorizing the county of Genesee to impose a county recording tax on certain mortgage obligation, in relation to extending the provisions of such chapter
Purpose and justification
The bill would extend the authority of Genesee County, acting through its local legislative body, to adopt a local law imposing a mortgage recording tax of 25 cents for each $100 of real property secured by a mortgage.
The Genesee County Legislature has passed a resolution requesting extension of its authority to charge a county mortgage recording tax. The tax is collected by the County the same time as the State mortgage recording taxes are. All revenue from the County Tax, after deducting expenses of mortgage recording offices, goes to the general fund of Genesee County for use as the County legislature approves.
Summary of specific provisions
Extends the authority of Genesee County to impose an additional county recording tax on certain mortgage obligations until November 1, 2011.
Prior legislative history
New bill.
Fiscal implications
In 2008, Genesee County received in excess of $297,000 in revenue from this additional mortgage tax.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.