Bill Text: NY A06037 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 6037 (Prior Session Legislation)

Introduced

Bill Title: Extends the expiration of the mortgage recording tax imposed by the city of Yonkers to August 31, 2021.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A06037 Detail]

Download: New_York-2019-A06037-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          6037
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 26, 2019
                                       ___________
        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  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