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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to investigations and government operations
- Referred to investigations and government operations
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to providing an exemption from the real estate transfer tax for certain conveyances to the town of Brookhaven, county of Suffolk
Purpose
To create legislation to provide an exemption from the real estate transfer tax for certain conveyances to the town of Brookhaven, county of Suffolk.
Summary of provisions
Section 1 amends the tax law, paragraph 10 of subdivision (b) of section 1405, as amended by chapter 61 of the laws of 1989. A new paragraph, 11, is added.
Existing law
New bill.
Justification
A real estate transfer tax would be a financial burden on the Town of Brookhaven as it acquires or purchases vacant land for the purposes of land preservation. Open spaces are precious and few. Townships should be encouraged by the State to use local tax money to acquire more open spaces without the burden of additional real estate transfer taxes.
Legislative history
2007-08, S.2787; 2005-06, S.5004.
Fiscal implications
None to State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.