What's happening
This bill extends Greene County’s authority to impose an additional mortgage recording tax until December 1, 2020.
Why it matters
Continued Local Revenue. Extending the authority allows Greene County to keep collecting extra funds from mortgage recording, which can be crucial for supporting county services or infrastructure without raising other taxes.
Potential Impact on Homebuyers and Lenders. Maintaining the additional tax may slightly increase closing costs for property transactions in Greene County, potentially affecting affordability or real estate activity.
Local Control and Flexibility. The extension reinforces the ability of local governments to address budget needs and priorities through targeted revenue measures, rather than relying solely on state funding or general tax increases.
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Who cares
Headline styles
Extend Greene County Mortgage Tax
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 58–3
- Ordered to third reading cal.1576
- 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.
Extend Greene Mortgage Tax
In Assembly Committee · Rules · Sponsor Chris Tague
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7639
IN SENATE
February 1, 2018
Introduced by Sen. AMEDORE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations
AN ACT to amend chapter 218 of the laws of 2009 amending the tax law relating to authorizing the county of Greene to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 2 of chapter 218 of the laws of 2009 amending the tax law relating to authorizing the county of Greene to impose an additional mortgage recording tax, as amended by chapter 129 of the laws of 2016, is amended to read as follows:
§ 2. This act shall take effect on the sixtieth day after it shall have become a law and shall expire and be deemed repealed December 1, [2018] 2020.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14535-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 218 of the laws of 2009 amend- ing the tax law relating to authorizing the county of Greene to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
Purpose
To authorize the Greene County Legislature to adopt a local law continu- ing the imposition of an additional mortgage recoding tax in the County in the amount of one-half of one percent.
Summary of provisions
Section one amends chapter 218 of 2009 to authorize Greene County to continue to impose an additional mortgage recording tax. The authority to impose the additional tax shall be repealed on December 1, 2020
Section two provides that the bill shall take effect immediately
Existing law
The current statutory authorization for the imposition of the additional mortgage recording tax expires on December 1, 2018.
Justification
The Greene County Legislature adopted a resolution requesting the State Legislature to enact legislation authorizing the County to continue to impose the mortgage recoding tax of one-half of one-percent.
Legislative history
The authority to impose the additional mortgage tax in Greene County was first established in 2009 and has been renewed every two years since then.
Fiscal implications
None to State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.