STATE OF NEW YORK
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7711
2019-2020 Regular Sessions
IN ASSEMBLY
May 17, 2019
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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
Madison 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-y to
2 read as follows:
3 § 253-y. Recording tax imposed by the county of Madison. 1. Madison
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
13 such 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
19 this article relating to or applicable to the administration and
20 collection of the taxes imposed by such subdivisions shall apply to the
21 taxes imposed under the authority of this section with such modifica-
22 tions as may be necessary to adapt such language to the tax so author-
23 ized. Such provisions shall apply with the same force and effect as if
24 those provisions had been set forth in full in this section except to
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11407-01-9
A. 7711 2
1 the extent that any provision is either inconsistent with a provision
2 of this section or not relevant to the tax authorized by this section.
3 For purposes of this section, any reference in this article to the tax
4 or taxes imposed by this article shall be deemed to refer to a tax
5 imposed pursuant to this section, and any reference to the phrase "with-
6 in this state" shall be read as "within Madison county", unless a
7 different meaning is clearly required.
8 3. Where the real property covered by the mortgage subject to the tax
9 imposed pursuant to the authority of this section is situated in this
10 state but within and without the county imposing such tax, the amount of
11 such tax due and payable to such county shall be determined in a manner
12 similar to that prescribed in the first undesignated paragraph of
13 section two hundred sixty of this article which concerns real property
14 situated in two or more counties. Where such property is situated both
15 within such county and without the state, the amount due and payable to
16 such county shall be determined in the manner prescribed in the second
17 undesignated paragraph of such section two hundred sixty which concerns
18 property situated within and without the state. Where real property is
19 situated within and without the county imposing such tax, the recording
20 officer of the jurisdiction in which the mortgage is first recorded
21 shall be required to collect the taxes imposed pursuant to this
22 section.
23 4. A tax imposed pursuant to the authority of this section shall be in
24 addition to the taxes imposed by section two hundred fifty-three of this
25 article.
26 5. Notwithstanding any provision of this article to the contrary, the
27 balance of all moneys paid to the recording officer of the county of
28 Madison during each month upon account of the tax imposed pursuant to
29 the authority of this section, after deducting the necessary expenses of
30 his or her office as provided in section two hundred sixty-two of this
31 article, except taxes paid upon mortgages which under the provisions of
32 this section or section two hundred sixty of this article are first to
33 be apportioned by the commissioner, shall be paid over by such officer
34 on or before the tenth day of each succeeding month to the treasurer of
35 Madison county and, after the deduction by such treasurer of the neces-
36 sary expenses of his or her office provided in section two hundred
37 sixty-two of this article shall be deposited in the general fund of the
38 county of Madison. Notwithstanding the provisions of the preceding
39 sentence, the tax so imposed and paid upon mortgages covering real
40 property situated in two or more counties, which under the provisions of
41 this section or section two hundred sixty of this article are first to
42 be apportioned by the commissioner, shall be paid over by the recording
43 officer receiving the same as provided by the determination of the
44 commissioner.
45 6. Any local law imposing a tax pursuant to the authority of this
46 section or repealing or suspending such a tax shall take effect only on
47 the first day of a calendar month. Such a local law shall not be effec-
48 tive unless a certified copy thereof is mailed by registered or certi-
49 fied mail to the commissioner at the commissioner's office in Albany at
50 least thirty days prior to the date the local law shall take effect.
51 7. Certified copies of any local law described in this section shall
52 also be filed with the county clerk of the county of Madison, the secre-
53 tary of state and the state comptroller within five days after the date
54 it is duly enacted.
55 § 2. This act shall take effect immediately and shall expire and be
56 deemed repealed December 1, 2022.