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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A9713
- Ordered to third reading cal.1998
- Committee discharged and committed to rules
- 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.
Extends the effectiveness of chapter 405 of the laws of 2005 for two years relating to authorization for the county of Albany to impose a mortgage recording tax
Signed by Governor · Sponsor Patricia Fahy
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend chapter 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real property, in relation to extending the effectiveness thereof
Purpose or general idea of bill
Extends the effectiveness of chapter 234 of the laws of 2014 for two years.
Summary of specific provisions
Amends chapter 234 of the laws of 2014 , extending the sunset from December 1, 2016 to December 1, 2018.
Justification
Currently, the county of Albany's mortgage recording tax is slated to sunset on December 1, 2014. In order for the county to continue generating revenue, the sunset must be extended. By imposing a tax of twenty-five cents for each one hundred dollars secured by a mortgage in Albany County, this measure would help generate revenue for the County and help to relieve the burdens placed on local taxpayers
Prior legislative history
2014: Chapter 234 2012: Chapter 311 2010: Chapter 291 2008: Chapter 411 2006: Chapter 477 2005: Chapter 405
Fiscal implications
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.