Bill Text: NY S07220 | 2023-2024 | General Assembly | Amended
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 HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S07220 Detail]
Download: New_York-2023-S07220-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 7220--A 2023-2024 Regular Sessions IN SENATE May 18, 2023 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development -- 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. LBD11487-03-3
