Bill Text: NY S06375 | 2019-2020 | General Assembly | Introduced

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Bill Title: Imposes an additional 0.25% mortgage recording tax in Livingston county and brings the total mortgage recording tax in Livingston county to 1.25%.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2019-10-11 - SIGNED CHAP.373 [S06375 Detail]

Download: New_York-2019-S06375-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6375

                               2019-2020 Regular Sessions

                    IN SENATE

                                      June 6, 2019
                                       ___________

        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules

        AN ACT to amend the tax law, in relation to authorizing  the  county  of
          Livingston to impose an additional mortgage recording tax; and provid-
          ing 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    §  253-y.  Recording  tax  imposed  by  the  county  of Livingston. 1.
     4  Livingston county, acting through its local legislative body, is  hereby
     5  authorized  and empowered to adopt and amend local laws imposing in such
     6  county a tax of twenty-five cents for each one hundred dollars and  each
     7  remaining  major  fraction thereof of principal debt or obligation which
     8  is or under any contingency may be secured  at  the  date  of  execution
     9  thereof, or at any time thereafter, by a mortgage on real property situ-
    10  ated  within  such  county  and recorded on or after the date upon which
    11  such tax takes effect and a tax of twenty-five cents on such mortgage if
    12  the principal debt or obligation which is or by any contingency  may  be
    13  secured by such 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

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11988-02-9
        S. 6375                             2

     1  extent that any provision is either inconsistent  with  a  provision  of
     2  this  section or not relevant to the tax authorized by this section. For
     3  purposes of this section, any reference in this article to  the  tax  or
     4  taxes  imposed by this article shall be deemed to refer to a tax imposed
     5  pursuant to this section, and any reference to the phrase  "within  this
     6  state"  shall  be read as "within Livingston county", unless a different
     7  meaning is clearly required.
     8    3. Where the real property covered by the mortgage subject to the  tax
     9  imposed  pursuant  to  the authority of this section is situated in this
    10  state but within and without the county imposing such tax, the amount of
    11  such tax due and payable to such county shall be determined in a  manner
    12  similar  to  that  prescribed  in  the  first  undesignated paragraph of
    13  section two hundred sixty of this article which concerns  real  property
    14  situated  in two or more counties.  Where such property is situated both
    15  within such county and without the state, the amount due and payable  to
    16  such  county  shall be determined in the manner prescribed in the second
    17  undesignated paragraph of such section two hundred sixty which  concerns
    18  property  situated  within and without the state. Where real property is
    19  situated within and without the county imposing such tax, the  recording
    20  officer  of  the  jurisdiction  in  which the mortgage is first recorded
    21  shall be required to collect the taxes imposed pursuant to this section.
    22    4. A tax imposed pursuant to the authority of this section shall be in
    23  addition to the taxes imposed by section two hundred fifty-three of this
    24  article.
    25    5. Notwithstanding any provision of this article to the contrary,  the
    26  balance  of  all  moneys  paid to the recording officer of the county of
    27  Livingston during each month upon account of the tax imposed pursuant to
    28  the authority of this section, after deducting the necessary expenses of
    29  his or her office as provided in section two hundred sixty-two  of  this
    30  article,  except taxes paid upon mortgages which under the provisions of
    31  this section or section two hundred sixty of this article are  first  to
    32  be  apportioned  by the commissioner, shall be paid over by such officer
    33  on or before the tenth day of each succeeding month to the treasurer  of
    34  Livingston  county  and,  after  the  deduction by such treasurer of the
    35  necessary expenses of his or her office provided in section two  hundred
    36  sixty-two  of this article shall be deposited in the general fund of the
    37  county of Livingston for expenditure on  any  county  purpose.  Notwith-
    38  standing  the  provisions  of the preceding sentence, the tax so imposed
    39  and paid upon mortgages covering real property situated in two  or  more
    40  counties,  which  under  the  provisions  of this section or section two
    41  hundred sixty of this article are first to be apportioned by the commis-
    42  sioner, shall be paid over by the recording officer receiving  the  same
    43  as provided by the determination of said commissioner.
    44    6.  Each  enactment of a local law may provide for the imposition of a
    45  mortgage tax for a period of time no longer than three  years  from  the
    46  date  of  its  enactment.  Nothing  in  this  section shall prohibit the
    47  adoption and enactment of local laws, pursuant to the provisions of this
    48  section, upon the expiration of any other local law adopted pursuant  to
    49  this section.
    50    7.  Any  local  law  imposing  a tax pursuant to the authority of this
    51  section or repealing or suspending such a tax shall take effect only  on
    52  the  first day of a calendar month. Such a local law shall not be effec-
    53  tive unless a certified copy thereof is mailed by registered  or  certi-
    54  fied  mail to the commissioner at the commissioner's office in Albany at
    55  least thirty days prior to the date the local law shall take effect.
        S. 6375                             3

     1    8. Certified copies of any local law described in this  section  shall
     2  also  be  filed  with  the county clerk of the county of Livingston, the
     3  secretary of state and the state comptroller within five days after  the
     4  date it is duly enacted.
     5    §  2.  This  act shall take effect immediately and shall expire and be
     6  deemed repealed December 1, 2022.