S07638 Summary:
| BILL NO | S07638 |
| SAME AS | SAME AS A07847 |
| SPONSOR | ASHBY |
| COSPNSR | |
| MLTSPNSR | |
| Amd §253, Tax L | |
| Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer. | |
S07638 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 7638 2023-2024 Regular Sessions IN SENATE August 18, 2023 ___________ Introduced by Sen. ASHBY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law, in relation to exempting from the mortgage recording tax mortgages executed by a veteran first time homebuyer The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 253 of the tax law is amended by adding a new 2 subdivision 4 to read as follows: 3 4. Notwithstanding any other provision of law to the contrary, the 4 mortgage recording tax shall not be imposed upon any mortgage executed 5 by a veteran, as defined in section one of the veterans' services law, 6 who is a first time homebuyer. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11797-01-3