What's happening
This bill extends authorization for Cattaraugus County to impose an additional mortgage recording tax until December 1, 2021.
Why it matters
Ensures continued local revenue. By extending the authorization for the additional mortgage recording tax, the bill allows Cattaraugus County to maintain a stream of local funding, which may be used for county services, infrastructure, or budget balancing.
Direct impact on real estate transactions. Homebuyers and mortgage borrowers in Cattaraugus County will continue to pay this extra tax, potentially affecting the overall costs of obtaining or refinancing property in the county.
Reflects ongoing fiscal needs. The repeated extensions of this tax indicate that Cattaraugus County still relies on this revenue, highlighting broader challenges counties may face in funding local government without state assistance.
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Who cares
Cattaraugus County officials
The bill would extend the county’s authority to impose an additional mortgage recording tax through December 1, 2021.
Cattaraugus County mortgage borrowers
The extension would preserve authorization for an additional tax on mortgage recordings rather than let it expire on December 1, 2018.
Cattaraugus County mortgage recording officials
The bill would make the extension retroactive to December 1, 2018, maintaining continuity in the tax authorization.
Headline styles
Extend Cattaraugus Mortgage Tax
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Signed chap.16
- Delivered to governor
- Returned to senate
- Passed assembly
- Home rule request
- Ordered to third reading rules cal.12
- Substituted for A208
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 52–11
- Home rule request
- Ordered to third reading cal.86
Show 2 earlier actions
- 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 Cattaraugus Mortgage Tax
Assembly Floor Calendar · Sponsor Joseph Giglio
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
959
2019-2020 Regular Sessions
IN SENATE
January 9, 2019
Introduced by Sen. YOUNG -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations
AN ACT to amend chapter 98 of the laws of 2009, amending the tax law relating to authorizing the county of Cattaraugus to impose an additional mortgage recording tax, in relation to extending the expiration thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 2 of chapter 98 of the laws of 2009, amending the tax law relating to authorizing the county of Cattaraugus to impose an additional mortgage recording tax, as amended by chapter 303 of the laws of 2015, is amended to read as follows:
§ 2. This act shall take effect immediately and shall expire and be deemed repealed December 1, [2018] 2021.
§ 2. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after December 1, 2018.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04023-02-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 98 of the laws of 2009, amending the tax law relating to authorizing the county of Cattaraugus to impose an addi- tional mortgage recording tax, in relation to extending the expiration thereof
Purpose
Extends provisions of law relating to authorizing the county of Catta- raugus to impose an additional mortgage recording tax.
Summary of provisions
Section 1. Amends section 2 of chapter 98 of the laws of 2009, amending the tax law, as amended by chapter 303 of the laws of 2015, relating to authorizing Cattaraugus County to impose an additional mortgage record- ing tax in the amount of 25 cents per hundred.
Section 2. Provides an immediate effective date and shall be deemed to have been in full force and effect on and after December 1, 2018.
Justification
The Cattaraugus County Legislature has requested, via resolution Act No. 151-2018, adopted on March 16, 2018, that the New York State Legislature extend the authorization for Cattaraugus County to impose an additional 25 cent mortgage recording fee to December 1, 2021. The current authori- zation to impose the additional 25 cent per hundred charge expired on December 1, 2018. The Cattaraugus County Legislature subsequently passed resolution Act No. 574-2018 in November 2018, further requesting action on this issue during the 2019 Legislative Session.
Legislative history
2018: S.8018/A.10194 Passed Senate
Fiscal implications
None to the State.
Effective date
This act shall take effect immediately and shall be deemed to have been in full force and effect on and after December 1, 2018.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.