Bill Text: NY A07847 | 2023-2024 | General Assembly | Introduced

---

Bill Title: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-06-07 - held for consideration in ways and means [A07847 Detail]

Download: New_York-2023-A07847-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                          7847

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      July 7, 2023
                                       ___________

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

        AN ACT to amend the tax law, in relation to exempting from the  mortgage
          recording tax mortgages executed by a veteran first time homebuyer

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 253 of the tax law  is  amended  by  adding  a  new
     2  subdivision 4 to read as follows:
     3    4.  Notwithstanding  any  other  provision of law to the contrary, the
     4  mortgage recording tax shall not be imposed upon any  mortgage  executed
     5  by  a  veteran, as defined in section one of the veterans' services law,
     6  who is a first time homebuyer.
     7    § 2. This act shall take effect immediately.







         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11797-01-3