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History
- Substituted by A6725A
- Advanced to third reading
- 2nd report cal.
- 1st report cal.496
- Print number 4554a
- Amend and recommit to local government
- Referred to local government
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 counties in the Hurricane Sandy federal disaster area to grant exemptions to filing fees related to federal Small Business Administration Disaster Loans
Signed by Governor · Sponsor Harvey Weisenberg
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4554A
Title of bill
An act to authorize counties included in the Hurricane Sandy federal disaster area to grant exemptions for certain filing fees and provide for reimbursement of such fees
Purpose
To authorize counties in the Hurricane Sandy federal disaster area to grant reimbursements and exemptions for filling fees related to federal Small Business Administration Loans.
Summary of provisions
Section 1 dedicates this legislation to be known as the "Hurricane Sandy filing fee exemption and reimbursement act."
Section 2 defines which counties are eligible under this act.
Section 3 provided for a local opt-in provision by the county governing body to participate in this act.
Section 4 establishes the period of time in which exemption from the filing fees associated with the US Small Business Administration Disaster Loan as defined by 15 USCS § 636(b)(1) is available.
Section 5 provides for a reimbursement of fees paid to the county clerk by individuals in receipt of the US Small Business Administration Disaster Loan.
Section 6 provides that the county clerk shall notify the Commissioner of Education of any amount which have been collected pursuant to CPLR § 8021. Upon such notice, the Commissioner shall remit those amounts to the respective county within fifteen (15) days of notice. Upon receipt of such payment the county clerk or county treasurer shall reimburse the full amount of fees paid to an eligible person or entity pursuant to this act.
Justification
As a result of the destruction to real property associated with Hurricane Sandy many property owners applied and were granted Small Business Administration (SBA) loans for the purpose of rebuilding and rehabilitating their real property. These SBA loans are required to be reported in the same manner as a mortgage with the respective county clerks in which the real property is located. As such, the fees associated with the filing process are imposed on the real property owner. In an effort to provide some additional relief to the real property owner suffering from the devastation incurred from Hurricane sandy, this legislation would exempt the real property owner from the state portion of the required filing fees, as well as authorize the county clerk or county treasurer to issue refunds to those real property owners that have already paid the such filing fees.
Legislative history
This is a New Bill
Fiscal implications
Minimal to the State
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.