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No co-sponsors yet.
History
- Substituted by A7385A
- Ordered to third reading cal.1284
- Referred to rules
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.
Provides that the amount required to redeem real property affected by any tax sale certificate in foreclosure shall include certain amounts and costs
Signed by Governor · Sponsor Dennis H. Gabryszak
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8324
Title of bill
An act to amend the Erie county tax act, in relation to providing that the amount required to redeem real property affected by any tax sale certificate in foreclosure, or to be recovered by the plaintiff in foreclosure, shall include the aggregate amount of all tax sale certificates affecting such real property and shall also include amounts for attorneys' fees, abstracts of title, court costs, allowances and other disbursements
Purpose
To provide that the amount required to redeem real property affected by any tax sale certificate in foreclosure shall include the aggregate amount of all tax sale certificates affecting such real property.
Summary of provisions
This bill would amend Sections 8-1.0, 8-2.0, 98.0, 11-4.0 and 11-12.0 of the Erie County Tax Act so that the amount required to redeem real property affected by any Erie County tax sale certificate in foreclosure, or to be recovered by the plaintiff in such foreclosure, shall include the aggregate amount of all tax sale certificates affecting such real property, together with amounts for reasonable and necessary attorney's fees, abstracts of title, court costs, allowances and other disbursements.
Justification
By requiring that the amount required to be paid to redeem such property, and the amount to be recovered in foreclosure by the owner of any Erie County tax sale certificate, shall include the full amount of all tax sale certificates so-owned, together with accrued interest, penalties and the costs and expenses of foreclosure such as reasonable and necessary attorneys' fees, court costs and abstracts of title, the value and enforceability of Erie County tax sale certificates offered for sale will be significantly enhanced.
Similarly, insofar as Erie County may find itself continuing to own tax sale certificates, and needing to directly enforce the collection of tax delinquencies under the in rem tax foreclosure provisions of the Erie County Tax Act, the legislation provides for the payment or recovery of a "in rem fee" of not more than $500 so as to cover the costs to Erie County for such in rem tax foreclosures.
Legislative history
2008: S.6677-B/A.8345-C, Passed the Senate.
Fiscal implications
None to the State.
Effective date
This act shall take effect immediately; provided that sections two, three, four and five of this act shall not affect or apply to any Erie county tax sale certificates for any fiscal year prior to 2010.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.