Bill Text: NY S03174 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to authorizing the county of Tompkins to impose a county recording tax on obligation secured by a mortgage on real property.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-01-04 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S03174 Detail]

Download: New_York-2011-S03174-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3174
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   February 10, 2011
                                      ___________
       Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to authorizing  the  county  of
         Tompkins  to  impose a county recording tax on obligation secured by a
         mortgage on real property;  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-y  to
    2  read as follows:
    3    S  253-Y. RECORDING TAX IMPOSED BY THE COUNTY OF TOMPKINS. 1. TOMPKINS
    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
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08576-01-1
       S. 3174                             2
    1  THIS  SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY THIS SECTION. FOR
    2  PURPOSES OF THIS SECTION, ANY REFERENCE IN THIS ARTICLE TO  THE  TAX  OR
    3  TAXES  IMPOSED BY THIS ARTICLE SHALL BE DEEMED TO REFER TO A TAX IMPOSED
    4  PURSUANT  TO  THIS SECTION, AND ANY REFERENCE TO THE PHRASE "WITHIN THIS
    5  STATE" SHALL BE READ AS "WITHIN TOMPKINS  COUNTY",  UNLESS  A  DIFFERENT
    6  MEANING IS CLEARLY REQUIRED.
    7    3.  WHERE THE REAL PROPERTY COVERED BY THE MORTGAGE SUBJECT TO THE TAX
    8  IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION IS  SITUATED  IN  THIS
    9  STATE BUT WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE AMOUNT OF
   10  SUCH  TAX DUE AND PAYABLE TO SUCH COUNTY SHALL BE DETERMINED IN A MANNER
   11  SIMILAR TO THAT PRESCRIBED IN THE FIRST PARAGRAPH OF SECTION TWO HUNDRED
   12  SIXTY OF THIS ARTICLE WHICH CONCERNS REAL PROPERTY SITUATED  IN  TWO  OR
   13  MORE  COUNTIES.  WHERE SUCH PROPERTY IS SITUATED BOTH WITHIN SUCH COUNTY
   14  AND WITHOUT THE STATE, THE AMOUNT DUE AND PAYABLE TO SUCH  COUNTY  SHALL
   15  BE  DETERMINED  IN THE MANNER PRESCRIBED IN THE SECOND PARAGRAPH OF SUCH
   16  SECTION TWO HUNDRED SIXTY WHICH CONCERNS PROPERTY  SITUATED  WITHIN  AND
   17  WITHOUT  THE  STATE.  WHERE REAL PROPERTY IS SITUATED WITHIN AND WITHOUT
   18  THE COUNTY IMPOSING SUCH TAX, THE RECORDING OFFICER OF THE  JURISDICTION
   19  IN WHICH THE MORTGAGE IS FIRST RECORDED SHALL BE REQUIRED TO COLLECT THE
   20  TAXES IMPOSED PURSUANT TO THIS SECTION.
   21    4. A TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION SHALL BE IN
   22  ADDITION TO THE TAXES IMPOSED BY SECTION TWO HUNDRED FIFTY-THREE OF THIS
   23  ARTICLE.
   24    5.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY, THE
   25  BALANCE OF ALL MONEYS PAID TO THE RECORDING OFFICER OF  TOMPKINS  COUNTY
   26  DURING  EACH  MONTH  UPON  ACCOUNT  OF  THE  TAX IMPOSED PURSUANT TO THE
   27  AUTHORITY OF THIS SECTION, AFTER DEDUCTING THE NECESSARY EXPENSES OF HIS
   28  OR HER OFFICE AS PROVIDED IN SECTION TWO HUNDRED SIXTY-TWO OF THIS ARTI-
   29  CLE, EXCEPT TAXES PAID UPON MORTGAGES WHICH UNDER THE PROVISIONS OF THIS
   30  SECTION OR SECTION TWO HUNDRED SIXTY OF THIS ARTICLE  ARE  FIRST  TO  BE
   31  APPORTIONED  BY  THE COMMISSIONER, SHALL BE PAID OVER BY SUCH OFFICER ON
   32  OR BEFORE THE TENTH DAY OF EACH SUCCEEDING MONTH  TO  THE  TREASURER  OF
   33  TOMPKINS COUNTY AND, AFTER THE DEDUCTION BY SUCH TREASURER OF THE NECES-
   34  SARY  EXPENSES  OF  HIS  OR  HER  OFFICE PROVIDED IN SECTION TWO HUNDRED
   35  SIXTY-TWO OF THIS ARTICLE SHALL BE DEPOSITED IN THE GENERAL FUND OF  THE
   36  COUNTY OF TOMPKINS FOR EXPENDITURE ON ANY COUNTY PURPOSE.
   37  NOTWITHSTANDING  THE  PROVISIONS  OF  THE PRECEDING SENTENCE, THE TAX SO
   38  IMPOSED AND PAID UPON MORTGAGES COVERING REAL PROPERTY SITUATED  IN  TWO
   39  OR  MORE COUNTIES, WHICH UNDER THE PROVISIONS OF THIS SECTION OR SECTION
   40  TWO HUNDRED SIXTY OF THIS ARTICLE ARE FIRST TO  BE  APPORTIONED  BY  THE
   41  COMMISSIONER,  SHALL BE PAID OVER BY THE RECORDING OFFICER RECEIVING THE
   42  SAME AS PROVIDED BY THE DETERMINATION OF SAID COMMISSIONER.
   43    6. ANY LOCAL LAW IMPOSING A TAX PURSUANT  TO  THE  AUTHORITY  OF  THIS
   44  SECTION  OR REPEALING OR SUSPENDING SUCH A TAX SHALL TAKE EFFECT ONLY ON
   45  THE FIRST DAY OF A CALENDAR MONTH. SUCH A LOCAL LAW SHALL NOT BE  EFFEC-
   46  TIVE  UNLESS  A CERTIFIED COPY THEREOF IS MAILED BY REGISTERED OR CERTI-
   47  FIED MAIL TO THE COMMISSIONER AT THE COMMISSIONER'S OFFICE IN ALBANY  AT
   48  LEAST THIRTY DAYS PRIOR TO THE DATE THE LOCAL LAW SHALL TAKE EFFECT.
   49    7.  CERTIFIED  COPIES OF ANY LOCAL LAW DESCRIBED IN THIS SECTION SHALL
   50  ALSO BE FILED WITH THE COUNTY CLERK  OF  THE  COUNTY  OF  TOMPKINS,  THE
   51  SECRETARY  OF STATE AND THE STATE COMPTROLLER WITHIN FIVE DAYS AFTER THE
   52  DATE IT IS DULY ENACTED.
   53    S 2. This act shall take effect on the thirtieth day  after  it  shall
   54  have  become  a law, and shall expire and be deemed repealed December 1,
   55  2014.