Bill Text: NY A04042 | 2009-2010 | General Assembly | Introduced

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Bill Title: An act to amend the general municipal law, in relation to industrial development agency; exemption from recording fees

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2010-01-06 - referred to local governments [A04042 Detail]

Download: New_York-2009-A04042-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4042
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 29, 2009
                                      ___________
       Introduced by M. of A. CROUCH, BURLING -- Multi-Sponsored by -- M. of A.
         FINCH -- read once and referred to the Committee on Local Governments
       AN  ACT  to  amend  the general municipal law, in relation to industrial
         development agency; exemption from recording fees
         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 874 of the general municipal law,
    2  as added by chapter 1030 of the laws of 1969,  is  amended  to  read  as
    3  follows:
    4    (1)    It is hereby determined that the creation of the agency and the
    5  carrying out of its corporate purposes is in all respects for the  bene-
    6  fit  of the people of the state of New York and is a public purpose, and
    7  the agency shall be regarded as performing a  governmental  function  in
    8  the  exercise of the powers conferred upon it by this title and shall be
    9  required to pay no  taxes  or  assessments  upon  any  of  the  property
   10  acquired  by  it  or under its jurisdiction or control or supervision or
   11  upon its activities.  IN ADDITION, THE LOCAL  LEGISLATIVE  BODY  OF  ANY
   12  COUNTY  IS  HEREBY  AUTHORIZED  AND  EMPOWERED  TO  ADOPT A LOCAL LAW TO
   13  PROVIDE THAT THE AGENCY SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR
   14  FILING, RECORDING OR INDEXING ANY  INSTRUMENT  REQUIRED  BY  LAW  TO  BE
   15  FILED,  RECORDED  OR INDEXED. WHERE SUCH LOCAL LAW HAS BEEN ADOPTED, THE
   16  AGENCY SHALL NOT BE REQUIRED TO PAY ANY FEE IMPOSED FOR FILING,  RECORD-
   17  ING  OR INDEXING OF ANY INSTRUMENT WHEN SUCH FILING, RECORDING OR INDEX-
   18  ING IS REQUIRED BY LAW.
   19    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06986-01-9