Bill Text: NY A05167 | 2023-2024 | General Assembly | Amended

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Bill Title: Authorizes the county of Otsego to impose an additional mortgage recording tax of 25 cents per $100 of principal debt or obligation.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed) 2024-06-07 - substituted by s4289a [A05167 Detail]

Download: New_York-2023-A05167-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5167--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      March 3, 2023
                                       ___________

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

        AN  ACT  to  amend the tax law, in relation to authorizing the county of
          Otsego to impose an additional mortgage recording tax;  and  providing
          for the repeal of such provisions upon 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-z  to
     2  read as follows:
     3    §  253-z.    Recording  tax imposed by the county of Otsego. 1. Otsego
     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 such
    13  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 this
    19  article relating to or applicable to the administration  and  collection
    20  of  the  taxes  imposed  by  such  subdivisions shall apply to the taxes
    21  imposed under the authority of this section with such  modifications  as
    22  may  be  necessary to adapt such language to the tax so authorized. Such
    23  provisions shall apply with the  same  force  and  effect  as  if  those
    24  provisions  had  been  set  forth  in full in this section except to the
    25  extent that any provision is either inconsistent  with  a  provision  of
    26  this  section or not relevant to the tax authorized by this section. For

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03488-03-3
        A. 5167--A                          2

     1  purposes of this section, any reference in this article to  the  tax  or
     2  taxes  imposed by this article shall be deemed to refer to a tax imposed
     3  pursuant to this section, and any reference to the phrase  "within  this
     4  state" shall be read as "within Otsego county", unless a different mean-
     5  ing is clearly required.
     6    3.  Where the real property covered by the mortgage subject to the tax
     7  imposed pursuant to the authority of this section is  situated  in  this
     8  state but within and without the county imposing such tax, the amount of
     9  such  tax due and payable to such county shall be determined in a manner
    10  similar to that  prescribed  in  the  first  undesignated  paragraph  of
    11  section  two  hundred sixty of this article which concerns real property
    12  situated in two or more counties. Where such property is  situated  both
    13  within  such county and without the state, the amount due and payable to
    14  such county shall be determined in the manner prescribed in  the  second
    15  undesignated  paragraph of such section two hundred sixty which concerns
    16  property situated within and without the state. Where real  property  is
    17  situated  within and without the county imposing such tax, the recording
    18  officer of the jurisdiction in which  the  mortgage  is  first  recorded
    19  shall be required to collect the taxes imposed pursuant to this section.
    20    4. A tax imposed pursuant to the authority of this section shall be in
    21  addition to the taxes imposed by section two hundred fifty-three of this
    22  article.
    23    5.  Notwithstanding any provision of this article to the contrary, the
    24  balance of all moneys paid to the recording officer  of  the  county  of
    25  Otsego during each month upon account of the tax imposed pursuant to the
    26  authority of this section, after deducting the necessary expenses of his
    27  or her office as provided in section two hundred sixty-two of this arti-
    28  cle, except taxes paid upon mortgages which under the provisions of this
    29  section  or  section  two  hundred sixty of this article are first to be
    30  apportioned by the commissioner, shall be paid over by such  officer  on
    31  or  before  the  tenth  day of each succeeding month to the treasurer of
    32  Otsego county and, after the deduction by such treasurer of  the  neces-
    33  sary  expenses  of  his  or  her  office provided in section two hundred
    34  sixty-two of this article shall be deposited in the general fund of  the
    35  county of Otsego for expenditure on any county purpose.  Notwithstanding
    36  the  provisions  of  the preceding sentence, the tax so imposed and paid
    37  upon mortgages covering real property situated in two or more  counties,
    38  which  under the provisions of this section or section two hundred sixty
    39  of this article are first to be apportioned by the  commissioner,  shall
    40  be  paid over by the recording officer receiving the same as provided by
    41  the determination of the commissioner.
    42    6. Any local law imposing a tax pursuant  to  the  authority  of  this
    43  section  or repealing or suspending such a tax shall take effect only on
    44  the first day of a calendar month. Such a local law shall not be  effec-
    45  tive  unless  a certified copy thereof is mailed by registered or certi-
    46  fied mail to the commissioner at the commissioner's office in Albany  at
    47  least thirty days prior to the date the local law shall take effect.
    48    7.  Certified  copies of any local law described in this section shall
    49  also be filed with the county clerk of the county of Otsego, the  secre-
    50  tary  of state and the state comptroller within five days after the date
    51  it is duly enacted.
    52    § 2. This act shall take effect immediately and shall expire  December
    53  31,  2025 when upon such date the provisions of this act shall be deemed
    54  repealed.