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Sponsors
Senator · Senate District 45
No co-sponsors yet.
History
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 41–21
- Ordered to third reading cal.1970
- Committee discharged and committed to rules
- Referred to investigations and government operations
- 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 Washington to impose an additional 25 cents per $100 of debt, mortgage recording tax
In Assembly Committee · Ways And Means · Sponsor Dan Stec
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3355
Title of bill
An act to amend the tax law, in relation to authorizing the county of Washington to impose an additional mortgage recording tax
Purpose
This bill will allow Washington County to impose an additional mortgage recording tax.
Summary of provisions
Section 1 Amends the tax law by adding a new section 253-y to authorize Washington County to impose an additional mortgage recording tax.
Section 2 Contains the effective date.
Existing law
The current division of mortgage tax is .25 to the State, .5 to the towns and .25 to the County, and Tax Law 253 allows an additional .25% mortgage tax to be used to pay for any and all expenses incurred for the support of community colleges pursuant to article one hundred twenty-six of the education law.
Justification
The county would impose a tax of twenty-five cents for each one hundred dollars and imposition of this additional tax would place the total mortgage tax in Washington County at the rate of 1.25%. These funds would be used to pay for any and all expenses incurred by the county for the support of community colleges.
Legislative history
New bill.
Fiscal implications
none
Local fiscal implications
Estimated revenue from additional tax is $400,000.
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.