Bill Text: NY A07711 | 2019-2020 | General Assembly | Introduced


Bill Title: Authorizes the county of Madison to impose an additional mortgage recording tax of twenty-five cents per one hundred dollars of debt.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2019-06-20 - substituted by s5672 [A07711 Detail]

Download: New_York-2019-A07711-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          7711

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      May 17, 2019
                                       ___________

        Introduced  by M. of A. SALKA -- read once and referred to the Committee
          on Ways and Means

        AN ACT to amend the tax law, in relation to authorizing  the  county  of
          Madison  to impose an additional mortgage recording tax; and providing
          for the repeal of such provisions upon the expiration thereof

          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  Madison.  1.  Madison
     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 twenty-five cents for each one hundred dollars and each remaining
     7  major fraction thereof of principal debt or obligation which is or under
     8  any   contingency may be secured at the date of execution thereof, or at
     9  any 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 twenty-five cents on such mortgage if the principal
    12  debt or obligation which  is or by any contingency  may  be  secured  by
    13  such 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
    19  this  article  relating  to    or  applicable  to the administration and
    20  collection of the taxes imposed by such subdivisions shall apply to  the
    21  taxes  imposed  under  the authority of this section with such modifica-
    22  tions as may be necessary to adapt such  language to the tax so  author-
    23  ized.  Such provisions shall apply with the same  force and effect as if
    24  those provisions had been set forth in full in this  section  except  to

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11407-01-9

        A. 7711                             2

     1  the  extent  that  any provision is either inconsistent with a provision
     2  of this section or not relevant to the tax authorized by  this  section.
     3  For  purposes  of this section, any reference in this article to the tax
     4  or  taxes  imposed  by  this  article  shall be deemed to refer to a tax
     5  imposed pursuant to this section, and any reference to the phrase "with-
     6  in this state" shall be  read  as  "within  Madison  county",  unless  a
     7  different meaning is clearly  required.
     8    3.  Where the real property covered by the mortgage subject to the tax
     9  imposed pursuant to the authority of this section is  situated  in  this
    10  state but within and without the county imposing such tax, the amount of
    11  such tax  due and payable to such county shall be determined in a manner
    12  similar  to    that  prescribed  in  the first undesignated paragraph of
    13  section two hundred sixty of this article which concerns  real  property
    14  situated  in two or more  counties. Where such property is situated both
    15  within such county and  without the state, the amount due and payable to
    16  such county shall be determined in the manner prescribed in  the  second
    17  undesignated  paragraph of such section two hundred sixty which concerns
    18  property situated within  and without the state. Where real property  is
    19  situated  within and without the county imposing such tax, the recording
    20  officer of the jurisdiction in which   the mortgage  is  first  recorded
    21  shall  be  required  to  collect  the  taxes  imposed   pursuant to this
    22  section.
    23    4. A tax imposed pursuant to the authority of this section shall be in
    24  addition to the taxes imposed by section two hundred fifty-three of this
    25  article.
    26    5. Notwithstanding any provision of this article to the contrary,  the
    27  balance  of  all  moneys  paid to the recording officer of the county of
    28  Madison  during each month upon account of the tax imposed  pursuant  to
    29  the authority of this section, after deducting the necessary expenses of
    30  his  or  her office as provided in section two hundred sixty-two of this
    31  article, except  taxes paid upon mortgages which under the provisions of
    32  this section or section two hundred sixty of this article are  first  to
    33  be  apportioned by the  commissioner, shall be paid over by such officer
    34  on or before the tenth day  of each succeeding month to the treasurer of
    35  Madison county and, after the  deduction by such treasurer of the neces-
    36  sary expenses of his or her  office  provided  in  section  two  hundred
    37  sixty-two of this article shall be deposited in  the general fund of the
    38  county  of  Madison.  Notwithstanding  the  provisions  of the preceding
    39  sentence, the tax so imposed and paid  upon  mortgages    covering  real
    40  property situated in two or more counties, which under the provisions of
    41  this  section  or section two hundred sixty of this article are first to
    42  be apportioned by the commissioner, shall be paid over by the  recording
    43  officer  receiving  the  same  as  provided  by the determination of the
    44  commissioner.
    45    6. Any local law imposing a tax pursuant  to  the  authority  of  this
    46  section  or repealing or suspending such a tax shall take effect only on
    47  the first day of a  calendar month. Such a local law shall not be effec-
    48  tive unless a certified  copy thereof is mailed by registered or  certi-
    49  fied  mail to the commissioner at the commissioner's office in Albany at
    50  least thirty days prior to the date the  local law shall take effect.
    51    7. Certified copies of any local law described in this  section  shall
    52  also be filed with the county clerk of the county of Madison, the secre-
    53  tary of state  and the state comptroller within five days after the date
    54  it is duly enacted.
    55    §  2.  This  act shall take effect immediately and shall expire and be
    56  deemed repealed December 1, 2022.
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