Bill Text: NY A06059 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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 3-0)

Status: (Engrossed - Dead) 2022-05-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [A06059 Detail]

Download: New_York-2021-A06059-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6059

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      March 8, 2021
                                       ___________

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

        AN ACT to amend the tax law, in relation to authorizing  the  county  of
          Otsego to impose an additional mortgage recording tax

          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

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09853-01-1
        A. 6059                             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 Otsego county", unless a different mean-
     6  ing 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  undesignated paragraph of
    12  section two hundred sixty of this article which concerns  real  property
    13  situated  in  two or more counties. Where such property is situated both
    14  within such county and without the state, the amount due and payable  to
    15  such  county  shall be determined in the manner prescribed in the second
    16  undesignated paragraph of such section two hundred sixty which  concerns
    17  property  situated  within and without the state. Where real property is
    18  situated within and without the county imposing such tax, the  recording
    19  officer  of  the  jurisdiction  in  which the mortgage is first recorded
    20  shall be required to collect the 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 the county of
    26  Otsego 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  Otsego  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 Otsego for expenditure on any county purpose.  Notwithstanding
    37  the provisions of the preceding sentence, the tax so  imposed  and  paid
    38  upon  mortgages covering real property situated in two or more counties,
    39  which under the provisions of this section or section two hundred  sixty
    40  of  this  article are first to be apportioned by the commissioner, shall
    41  be paid over by the recording officer receiving the same as provided  by
    42  the determination of the 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 Otsego, the secre-
    51  tary of state and the state comptroller within five days after the  date
    52  it is duly enacted.
    53    § 2. This act shall take effect immediately.