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A09960 Summary:

BILL NOA09960
 
SAME ASSAME AS S07731
 
SPONSORSalka
 
COSPNSR
 
MLTSPNSR
 
Add 253-z, Tax L
 
Authorizes the county of Otsego to impose an additional mortgage recording tax of 25 cents per $100 of principal debt or obligation.
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A09960 Actions:

BILL NOA09960
 
03/03/2020referred to ways and means
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A09960 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A9960
 
SPONSOR: Salka
  TITLE OF BILL: An act to amend the tax law, in relation to authorizing the county of Otsego to impose an additional mortgage recording tax; and providing for the repeal of such provisions upon the expiration thereof   PURPOSE OR GENERAL IDEA OF BILL: To authorize Otsego County to levy an additional mortgage recording tax of twenty-five cents (.25) for each one hundred dollars ($100) of mort- gage value for a two year period.   SUMMARY OF PROVISIONS: Section 1 of the bills adds a new section, 253-z, to the tax law, authorizing Otsego County to impose an additional mortgage recording tax of twenty-five cents (25) for each one hundred dollars ($100) of mort- gage value through December 31, 2022. Section one outlines the terms, conditions and manner under which the additional tax shall be imposed and collected. Section 2 provides an effective date.   JUSTIFICATION: Otsego County in 1971 suspended its collection of the additional one- quarter percent (.25%) mortgage recording tax authorized under the law. It is now one of few counties in New York State lacking such authority. The Otsego County Board of Representatives has adopted a resolution (No. 102-2020-0205) requesting that the state legislature introduce and pass legislation to authorize the county to impose an additional mortgage recording tax for the period through December 31, 2022. This measure is a home rule request, and requires subsequent action by the country board.   PRIOR LEGISLATIVE HISTORY: A7209-A of 2018   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None to the state.   EFFECTIVE DATE: Immediate
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A09960 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9960
 
                   IN ASSEMBLY
 
                                      March 3, 2020
                                       ___________
 
        Introduced  by M. of A. SALKA -- read once and referred to the Committee
          on Ways and Means
 
        AN ACT to amend the tax law, in relation to authorizing  the  county  of
          Otsego  to  impose an additional mortgage recording tax; and providing
          for the repeal of such provisions upon the expiration thereof
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  The  tax  law is amended by adding a new section 253-z to
     2  read as follows:
     3    § 253-z.  Recording tax imposed by the county  of  Otsego.  1.  Otsego
     4  county,  acting through its local legislative body, is hereby authorized
     5  and empowered to adopt and amend local laws imposing in  such  county  a
     6  tax of twenty-five cents for each one hundred dollars and each remaining
     7  major fraction thereof of principal debt or obligation which is or under
     8  any  contingency  may be secured at the date of execution thereof, or at
     9  any time thereafter, by a mortgage on real property situated within such
    10  county and recorded on or after the  date  upon  which  such  tax  takes
    11  effect  and a tax of twenty-five cents on such mortgage if the principal
    12  debt or obligation which is or by any contingency may be secured by such
    13  mortgage is less than one hundred dollars.
    14    2. The taxes imposed under the authority  of  this  section  shall  be
    15  administered and collected in the same manner as the taxes imposed under
    16  subdivision  one of section two hundred fifty-three and paragraph (b) of
    17  subdivision one of section  two  hundred  fifty-five  of  this  article.
    18  Except as otherwise provided in this section, all the provisions of this
    19  article  relating  to or applicable to the administration and collection
    20  of the taxes imposed by such  subdivisions  shall  apply  to  the  taxes
    21  imposed  under  the authority of this section with such modifications as
    22  may be necessary to adapt such language to the tax so  authorized.  Such
    23  provisions  shall  apply  with  the  same  force  and effect as if those
    24  provisions had been set forth in full in  this  section  except  to  the
    25  extent  that  any  provision  is either inconsistent with a provision of
    26  this section or not relevant to the tax authorized by this section.  For
    27  purposes  of  this  section, any reference in this article to the tax or
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15360-01-0

        A. 9960                             2
 
     1  taxes imposed by this article shall be deemed to refer to a tax  imposed
     2  pursuant  to  this section, and any reference to the phrase "within this
     3  state" shall be read as "within Otsego county", unless a different mean-
     4  ing is clearly required.
     5    3.  Where the real property covered by the mortgage subject to the tax
     6  imposed pursuant to the authority of this section is  situated  in  this
     7  state but within and without the county imposing such tax, the amount of
     8  such  tax due and payable to such county shall be determined in a manner
     9  similar to that  prescribed  in  the  first  undesignated  paragraph  of
    10  section  two  hundred sixty of this article which concerns real property
    11  situated in two or more counties. Where such property is  situated  both
    12  within  such county and without the state, the amount due and payable to
    13  such county shall be determined in the manner prescribed in  the  second
    14  undesignated  paragraph of such section two hundred sixty which concerns
    15  property situated within and without the state. Where real  property  is
    16  situated  within and without the county imposing such tax, the recording
    17  officer of the jurisdiction in which  the  mortgage  is  first  recorded
    18  shall be required to collect the taxes imposed pursuant to this section.
    19    4. A tax imposed pursuant to the authority of this section shall be in
    20  addition to the taxes imposed by section two hundred fifty-three of this
    21  article.
    22    5.  Notwithstanding any provision of this article to the contrary, the
    23  balance of all moneys paid to the recording officer  of  the  county  of
    24  Otsego during each month upon account of the tax imposed pursuant to the
    25  authority of this section, after deducting the necessary expenses of his
    26  or her office as provided in section two hundred sixty-two of this arti-
    27  cle, except taxes paid upon mortgages which under the provisions of this
    28  section  or  section  two  hundred sixty of this article are first to be
    29  apportioned by the commissioner, shall be paid over by such  officer  on
    30  or  before  the  tenth  day of each succeeding month to the treasurer of
    31  Otsego county and, after the deduction by such treasurer of  the  neces-
    32  sary  expenses  of  his  or  her  office provided in section two hundred
    33  sixty-two of this article shall be deposited in the general fund of  the
    34  county of Otsego for expenditure on any county purpose.  Notwithstanding
    35  the  provisions  of  the preceding sentence, the tax so imposed and paid
    36  upon mortgages covering real property situated in two or more  counties,
    37  which  under the provisions of this section or section two hundred sixty
    38  of this article are first to be apportioned by the  commissioner,  shall
    39  be  paid over by the recording officer receiving the same as provided by
    40  the determination of the commissioner.
    41    6. Any local law imposing a tax pursuant  to  the  authority  of  this
    42  section  or repealing or suspending such a tax shall take effect only on
    43  the first day of a calendar month. Such a local law shall not be  effec-
    44  tive  unless  a certified copy thereof is mailed by registered or certi-
    45  fied mail to the commissioner at the commissioner's office in Albany  at
    46  least thirty days prior to the date the local law shall take effect.
    47    7.  Certified  copies of any local law described in this section shall
    48  also be filed with the county clerk of the county of Otsego, the  secre-
    49  tary  of state and the state comptroller within five days after the date
    50  it is duly enacted.
    51    § 2. This act shall take effect immediately and shall  expire  and  be
    52  deemed repealed on and after December 31, 2022.
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