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History
- 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.
Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt
In Assembly Committee · Rules · Sponsor William Magee
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7983
Title of bill
An act to amend the tax law, in relation to authorizing the county of Madison to impose an additional mortgage recording tax and providing for the repeal of such provisions upon the expiration thereof
Purpose or general idea of bill
This bill authorizes Madison County to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt.
Summary of specific provisions
Section 1 authorizes the imposition of a twenty-five cent tax for each one hundred dollars by a mortgage on real property situated within Madison County and describes the method of administration and collection of the tax.
Section 2 sets forth the effective date.
Justification
This bill was introduced at the request of the Madison County Board of Supervisors, who by resolution adopted on April 13, 2010 has requested that the New York State Legislature authorize Madison County to impose an additional mortgage recording tax in Madison, the proceeds of which will be disbursed to the County to apply to Emergency Communications System Upgrade Project debt payments.
Prior legislative history
This is a new bill.
Fiscal implications
None to the State.
Effective date
This act shall take effect on the sixtieth day after it shall have become a law and shall expire when the debt service payments to fund federally mandated improvements to the emergency communications system upgrade project shall terminate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.