Bill Text: NY A07564 | 2023-2024 | General Assembly | Amended

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Bill Title: Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to judiciary [A07564 Detail]

Download: New_York-2023-A07564-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         7564--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      May 25, 2023
                                       ___________

        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on  Judiciary -- committee discharged, bill amended, ordered reprinted
          as amended and recommitted to said committee

        AN ACT to amend the  real  property  actions  and  proceedings  law,  in
          relation to registration of mortgages in default

          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 1393 of the real property  actions
     2  and  proceedings  law,  as  added by chapter 600 of the laws of 2022, is
     3  amended to read as follows:
     4    3. Any local law, ordinance or resolution that allows for  the  regis-
     5  tration  of  residential  mortgages in default may impose a registration
     6  fee not exceeding [seventy-five] five hundred dollars annually. A  mort-
     7  gagee  and/or  its agents are prohibited from passing along such fees to
     8  the mortgagor in default.
     9    § 2. This act shall take effect immediately.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11487-04-3