What's happening
This bill extends the Columbia County additional real estate transfer tax authorization from 2020 to 2023.
Why it matters
Extending the tax allows Columbia County to continue collecting additional revenue from real estate transactions for three more years, which could support local government services, infrastructure, or other county needs.
Buyers and sellers of real estate in Columbia County will continue to factor this extra tax into their transactions until at least the end of 2023, potentially impacting real estate market activity or affordability.
The extension may provide financial stability for county planning and budgeting, as the continued tax revenue stream can help avoid sudden funding gaps or disruptions to ongoing projects.
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Who cares
Headline styles
Extend Columbia Real Estate Tax
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- 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 Columbia Real Estate Tax
In Assembly Committee · Ways And Means · Sponsor Didi Barrett
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7752
IN SENATE
February 13, 2020
Introduced by Sen. JORDAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations
AN ACT to amend chapter 556 of the laws of 2007 amending the tax law relating to the imposition of an additional real estate transfer tax within the county of Columbia, in relation to 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 556 of the laws of 2007 amending the tax law relating to the imposition of an additional real estate transfer tax within the county of Columbia, as amended by section 1 of part D of chapter 61 of the laws of 2017, is amended to read as follows:
§ 2. This act shall take effect immediately and shall expire and be deemed repealed on December 31, [2020] 2023.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13490-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 556 of the laws of 2007 amending the tax law relating to the imposition of an additional real estate transfer tax within the county of Columbia, in relation to the effectiveness thereof
Purpose
This bill will extend the authorization for an additional real estate transfer tax in Columbia County until December 31, 2023.
Summary of provisions
Section 1 amends section 2 of Chapter 556 of the Laws of 2007, amending the tax law to provide for the extension of the imposition of an addi- tional real estate transfer tax in Columbia County.
Section 2 provides for the extension of the repeal date through December 31, 2023. Section 3 sets forth an immediate effective date.
Justification
The Columbia County Board of Supervisors requested legislation to enable the County to impose an additional transfer tax to be used toward the financing of the County's capital expenditures and public improvement projects. Since 2007, the County has collected this tax and has reduced its dependence on the real property tax to address their fiscal needs. This bill will allow the County to continue to impose this tax.
Legislative history
Chapter 61 of the Laws of 2017;
Chapter 308 of the Laws of 2015;
Chapter 118 of the Laws of 2013;
Chapter 474 of the Laws of 2011;
Chapter 193 of the Laws of 2009.
Fiscal implications
Additional revenue for Columbia County
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.