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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred 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.
Relates to tax billing addresses
In Assembly Committee · Real Property Taxation · Sponsor James Skoufis
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5679
Title of bill
An act to amend the real property tax law, in relation to tax billing addresses
Purpose
The purpose of this bill is to relieve local assessor offices of the undue and unnecessary burden of adding a code to notification forms for creation or termination of a mortgage escrow account.
Summary of provisions
Section 1: amends Section 518 of the real property tax law to state that where the "tax billing address" is for a mortgage investing institution or agent thereof, the assessor shall make no entry.
Section 2: amends Subdivision 9 of section 953 of the real property tax law, removes the requirement that reports made by mortgage investing institutions regarding the creation of a mortgage escrow accounts and changes in a tax billing addresses be entered on the "assessment roll"
Section 3: Effective date.
Justification
Under current law, banks or tax service organizations (TSOs) send notification of the creation or termination of mortgage escrow accounts to the County Director. The County sorts boxes of forms and forwards them to the appropriate assessor, who then adds a code to their data file for the bank or TSO. Small banks generally request bills directly from the Receiver of Taxes who pulls and sends them to that bank. Large TSOs get their bills electronically from the County directly. in either case, the bank code on the assessor's file is never used for any purpose.
A great deal of time and labor is committed to the adding of assessor codes to the notification forms for creation or termination of a mortgage escrow account Given these codes are not used for any purpose, this bill would provide much-needed mandate relief to many of our local assessor offices and governments without impacting any use or service whatsoever.
Legislative history
New bill.
Fiscal implications
None.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.