Bill Text: NY A04458 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to the mortgage recording tax in the county of Otsego; authorizes the county of Otsego to impose an additional mortgage recording tax.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2020-07-23 - REFERRED TO RULES [A04458 Detail]
Download: New_York-2019-A04458-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4458 2019-2020 Regular Sessions IN ASSEMBLY February 4, 2019 ___________ Introduced by M. of A. B. MILLER -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the mortgage recording tax in the county of Otsego 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 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 fifty cents for each one hundred dollars and each remaining major 7 fraction thereof of principal debt or obligation which is or under any 8 contingency may be secured at the date of execution thereof, or at any 9 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 fifty cents on such mortgage if the principal debt 12 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 28 taxes imposed by this article shall be deemed to refer to a tax imposed EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06602-01-9A. 4458 2 1 pursuant to this section, and any reference to the phrase "within this 2 state" shall be read as "within Otsego county", unless a different mean- 3 ing is indicated. 4 3. Where the real property covered by the mortgage subject to the tax 5 imposed pursuant to the authority of this section is situated in this 6 state but within and without the county imposing such tax, the amount of 7 such tax due and payable to such county shall be determined in a manner 8 similar to that prescribed in the first undesignated paragraph of 9 section two hundred sixty of this article which concerns real property 10 situated in two or more counties. Where such property is situated both 11 within such county and without the state, the amount due and payable to 12 such county shall be determined in the manner prescribed in the second 13 undesignated paragraph of such section two hundred sixty which concerns 14 property situated within and without the state. Where real property is 15 situated within and without the county imposing such tax, the recording 16 officer of the jurisdiction in which the mortgage is first recorded 17 shall be required to collect the taxes imposed pursuant to this section. 18 4. A tax imposed pursuant to the authority of this section shall be in 19 addition to the taxes imposed by section two hundred fifty-three of this 20 article. 21 5. Notwithstanding any provision of this article to the contrary, the 22 balance of all moneys paid to the recording officer of the county of 23 Otsego during each month upon account of the tax imposed pursuant to the 24 authority of this section, after deducting the necessary expenses of his 25 or her office as provided in section two hundred sixty-two of this arti- 26 cle, except taxes paid upon mortgages which under the provisions of this 27 section or section two hundred sixty of this article are first to be 28 apportioned by the commissioner, shall be paid over by such officer on 29 or before the tenth day of each succeeding month to the treasurer of 30 Otsego county and, after the deduction by such treasurer of the neces- 31 sary expenses of his or her office provided in section two hundred 32 sixty-two of this article shall be deposited in the general fund of the 33 county of Otsego for expenditure by such county for any county purpose. 34 Notwithstanding the provisions of the preceding sentence, the tax so 35 imposed and paid upon mortgages covering real property situated in two 36 or more counties, which under the provisions of this section or section 37 two hundred sixty of this article are first to be apportioned by the 38 commissioner, shall be paid over by the recording officer receiving the 39 same as provided by the determination of the commissioner. 40 6. Any local law imposing a tax pursuant to the authority of this 41 section or repealing or suspending such a tax shall take effect only on 42 the first day of a calendar month. Such a local law shall not be effec- 43 tive unless a certified copy thereof is mailed by registered or certi- 44 fied mail to the commissioner at the commissioner's office in Albany at 45 least thirty days prior to the date the local law shall take effect. 46 7. Certified copies of any local law described in this section shall 47 also be filed with the county clerk of the county of Otsego, the secre- 48 tary of state and the state comptroller within five days after the date 49 it is duly enacted. 50 § 2. Subdivision 1 of section 261 of the tax law is amended by adding 51 a new paragraph (h-1) to read as follows: 52 (h-1) with respect to the county of Otsego, to the county treasurer of 53 such county for deposit into the general fund of the county of Otsego; 54 § 3. This act shall take effect on the thirtieth day after it shall 55 have become a law.
