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A04956 Summary:

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A04956 Committee Votes:

A04956 Floor Votes:

A04956 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4956
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 9, 2015
                                       ___________
 
        Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
          tee on Ways and Means
 
        AN ACT to amend the tax law, in relation to extending the expiration  of
          the mortgage recording tax imposed by the city of Yonkers
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 1 of section 253-d of the tax law,  as  amended
     2  by chapter 76 of the laws of 2013, is amended to read as follows:
     3    1.  The city of Yonkers, acting through its local legislative body, is
     4  hereby authorized and empowered to adopt and amend local  laws  imposing
     5  in  any  such city during the period beginning September first, nineteen
     6  hundred  ninety-three  and  ending  August  thirty-first,  two  thousand
     7  [fifteen]  seventeen,  a tax of fifty cents for each one hundred dollars
     8  and each remaining major fraction thereof of  principal  debt  or  obli-
     9  gation  which  is or under any contingency may be secured at the date of
    10  execution thereof, or at any time thereafter,  by  a  mortgage  on  real
    11  property  situated  within  such  city and recorded on or after the date
    12  upon which such tax takes effect and a tax of fifty cents on such  mort-
    13  gage  if the principal debt or obligation which is or by any contingency
    14  may be secured by such mortgage is less than one hundred dollars.
    15    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08953-01-5