What's happening
This bill extends Warren County's authority to impose an additional mortgage recording tax until December 1, 2020.
Why it matters
Continued Local Revenue. The extension allows Warren County to keep collecting additional funds from mortgage transactions, which can support local government services or projects without relying solely on property taxes or state aid.
Potential Homebuyer Impact. By keeping the extra tax in place, homebuyers and those refinancing in Warren County will continue to face slightly higher closing costs, which could influence affordability or real estate market activity.
Budget Planning Certainty. The extension provides county officials with predictable revenue for budget planning through 2020, allowing for more stable funding of county services and infrastructure.
Precedent for Other Counties. Renewing this authority may set an example for other counties seeking similar local tax powers, impacting how local governments across New York fund their operations.
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Who cares
Headline styles
Extend Warren Mortgage Tax
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 45
No co-sponsors yet.
History
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 58–3
- Ordered to third reading cal.1593
- 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 Warren Mortgage Tax
Assembly Floor Calendar · Sponsor Dan Stec
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
8009
IN SENATE
March 19, 2018
Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations
AN ACT to amend chapter 368 of the laws of 2008, amending the tax law relating to authorizing the county of Warren 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 368 of the laws of 2008, amending the tax law relating to authorizing the county of Warren to impose an additional mortgage recording tax, as amended by chapter 190 of the laws of 2016, is amended to read as follows:
§ 2. This act shall take effect immediately 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.
LBD15173-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 368 of the laws of 2008, amending the tax law relating to authorizing the county of Warren to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
Purpose
Extends Warren County's additional mortgage recording tax authorization until December 1, 2020.
Summary of provisions
Section 1. Amends section 2 of chapter 368 of the laws of 2008 to extend the expiration date of the mortgage recording tax imposed by Warren County to December 1, 2020.
Existing law
This provision of law is set to expire on December 1, 2018.
Justification
The Warren County Board of Supervisors has requested the introduction of legislation to extend their authority to impose and additional mortgage recording tax to December 1, 2020.
Legislative history
2014: S.6587/ A.8759 Chapter 224 2016: S.6852/A.9386 Chapter 190
Local fiscal implications
Warren County will continue to receive an estimated $1 million annually from this tax.
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.