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S06429 Summary:

S06429 Actions:

S06429 Committee Votes:

S06429 Floor Votes:

S06429 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6429
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                      May 18, 2017
                                       ___________
 
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
 
        AN ACT to amend the tax law, in relation to the allocation  of  mortgage
          recording tax in the town of Ossining, county of Westchester

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 3 of section 261 of the tax law, as amended  by
     2  chapter 287 of the laws of 2006, is amended to read as follows:
     3    3.  On  or before the tenth day of each month the recording officer of
     4  each county shall pay over to the county treasurer of said  county,  and
     5  in  the  counties  of New York, Kings, Queens, Richmond and Bronx to the
     6  commissioner of finance of the city of New York for credit to the gener-
     7  al fund of such city, the balance of  the  moneys  received  during  the
     8  preceding  month  upon  account  of  taxes  paid to him or her as herein
     9  prescribed, after deducting the necessary expenses of his or her  office
    10  as  provided  in  section  two hundred sixty-two of this article, except
    11  taxes paid upon mortgages which under  the  provisions  of  section  two
    12  hundred sixty of this article are first to be apportioned by the commis-
    13  sioner,  which taxes and money shall be paid over by the commissioner of
    14  finance of the city of New York as provided by the determination of  the
    15  commissioner.  In each county not within the city of New York, the whole
    16  of the net amount of such balance, after the  deduction  by  the  county
    17  treasurer  of  the  necessary  expenses of his or her office provided in
    18  section two hundred sixty-two of this article, shall be held by  him  or
    19  her  and shall be allocated to the tax districts of the county according
    20  to the location of the real property covered by the respective mortgages
    21  upon which the tax was collected. The recording officer and county trea-
    22  surer shall  prepare  a  joint  semi-annual  report  on  or  before  May
    23  fifteenth  and  on or before November fifteenth in each year showing the
    24  amounts to be credited to each tax district of the county of the  moneys
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10478-01-7
        S. 6429                             2
 
     1  collected  under this article during the preceding periods of six months
     2  each which ended respectively on March thirty-first and September  thir-
     3  tieth.  Such  report  shall  be made in duplicate in accordance with the
     4  rules  and  regulations  of the commissioner and filed with the clerk of
     5  the board of supervisors and the commissioner. The board of supervisors,
     6  on or before the fifteenth day of June and on or  before  the  fifteenth
     7  day of December in each year, shall issue its warrant for the payment to
     8  the  respective  tax  districts  of  the  amounts so credited, provided,
     9  however, that in a county in which a town contains within its limits  an
    10  incorporated village, or portion thereof, the board of supervisors shall
    11  apportion  to  such village so much of the share credited to the town as
    12  the assessed value of said village or portion thereof bears to twice the
    13  total assessed valuation of the town, and provided,  further,  that,  at
    14  the  option of the governing board of the county, the county may instead
    15  prepare and file such a joint report and make such payments on a monthly
    16  or quarterly basis. Where the county elects to  make  monthly  payments,
    17  the  recording officer and county treasurer shall prepare a joint report
    18  on or before the fifteenth day of each month showing the amounts  to  be
    19  credited  to  each  tax  district of the county and the moneys collected
    20  under this article for the month preceding the most  recently  concluded
    21  month,  and the board of supervisors shall issue its warrant for payment
    22  on or before the fifteenth day of the following month. Where the  county
    23  elects  to  make  quarterly  payments,  the recording officer and county
    24  treasurer shall prepare such a joint report on or before  the  fifteenth
    25  day  of  May,  August, November, and February, showing the amounts to be
    26  credited to each tax district of the county of  moneys  collected  under
    27  this  article  for the preceding three-month period ending March thirty-
    28  first, June thirtieth, September thirtieth, and  December  thirty-first,
    29  respectively  and  the  board of supervisors shall issue its warrant for
    30  payment on or before the fifteenth day of June, September, December, and
    31  March, respectively. The warrant shall direct payment to the city treas-
    32  urer of the amount due the city, to the town supervisor  of  the  amount
    33  due  the  town,  and to the village treasurer of the amount to which the
    34  village shall be entitled. Mortgage tax moneys allotted to cities, towns
    35  and villages shall be applied to the payment  of  the  general  expenses
    36  thereof.  The  commissioner shall prescribe the method of adjustment and
    37  correction of errors heretofore or hereafter made in the distribution of
    38  moneys collected under this article.  Provided, however that in the town
    39  of Ossining, county of Westchester, monies  due  to  the  unincorporated
    40  portion  of  the  town  shall  be placed in the unincorporated town fund
    41  instead of into the general fund of such town.
    42    § 2. This act shall take effect immediately.