Bill Text: NY A02731 | 2011-2012 | General Assembly | Introduced

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Bill Title: Exempts industrial development agencies from the payment of any filing or recording fees to a county clerk for the filing, recording or indexing of any instrument required by law; also provides that the local legislative body of a county is authorized to adopt a local law providing that an industrial development agency shall not be required to pay any filing, recording or indexing fees.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2012-01-04 - referred to local governments [A02731 Detail]

Download: New_York-2011-A02731-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2731
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 20, 2011
                                      ___________
       Introduced  by M. of A. CROUCH, BURLING, 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.
                                                                  LBD04755-01-1