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Sponsors
1 Co-sponsor
History
- Signed chap.380
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.573
- Substituted for A7996
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 63–0
- Ordered to third reading cal.1412
- 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.
Authorizes a city of one million or more in population in the Hurricane Sandy federal disaster area to grant exemptions to filing fees related to federal Small Business Administration Disaster Loans
Assembly Floor Calendar · Sponsor Helene Weinstein
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5796
Title of bill
An act to authorize a certain city 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 New York City to grant reimbursements and exemptions for filing fees related to federal Small Business Administration Loans extended to the Hurricane Sandy federal disaster area.
Summary of provisions
Section 1 titles the bill the Hurricane Sandy Filing Fee Exemption and Reimbursement Act.
Section 2 defines "eligible city."
Section 3 permits the city council to enact a resolution to adopt provisions of the act.
Section 4 exempts filing fees charged by county clerks or the city register between October 28, 2012 and December 31, 2013 associated with US Small Business Administration Disaster Loans.
Section 5 requires county clerk offices and the city register to reimburse filing fees associated with US Small Business Administration Disaster Loans paid between October 28, 2012 and December 31, 2013 to filers.
Section 6 requires the county clerk or the city register to reimburse filing fees associated with US Small Business Administration Disaster Loans paid between October 28, 2012 and December 31, 2013 to filers.
Section 7 provides that this act shall take effect immediately.
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 city register to issue refunds to those real property owners that have already paid such filing fees.
Legislative history
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.