Bill Text: NY A07238 | 2023-2024 | General Assembly | Introduced

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Bill Title: Extends the expiration of the mortgage recording tax imposed by the city of Yonkers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-06-05 - substituted by s6822 [A07238 Detail]

Download: New_York-2023-A07238-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7238

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      May 15, 2023
                                       ___________

        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  item D of subpart E of part XXX of chapter 58 of the
     3  laws of 2020, 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-three] twenty-five, a tax of fifty cents for each one hundred dollars
     9  and  each  remaining  major  fraction thereof of principal debt or obli-
    10  gation 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.
                                                                   LBD11314-01-3