STATE OF NEW YORK
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7358
IN SENATE
January 21, 2020
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Introduced by Sen. STEWART-COUSINS -- read twice and ordered printed,
and when printed to be committed to the Committee on Investigations
and Government Operations
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 section 1 of subpart D of part C of chapter 61 of the laws of 2017,
3 is amended to read as follows:
4 1. The city of Yonkers, acting through its local legislative body, is
5 hereby authorized and empowered to adopt and amend local laws imposing
6 in any such city during the period beginning September first, nineteen
7 hundred ninety-three and ending August thirty-first, two thousand [twen-
8 ty] twenty-one, a tax of fifty cents for each one hundred dollars and
9 each remaining major fraction thereof of principal debt or obligation
10 which is or under any contingency may be secured at the date of
11 execution thereof, or at any time thereafter, by a mortgage on real
12 property situated within such city and recorded on or after the date
13 upon which such tax takes effect and a tax of fifty cents on such mort-
14 gage if the principal debt or obligation which is or by any contingency
15 may be secured by such mortgage is less than one hundred dollars.
16 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09943-01-9
