Bill Text: NY A07465 | 2013-2014 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-08 - referred to ways and means [A07465 Detail]

Download: New_York-2013-A07465-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7465
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 21, 2013
                                      ___________
       Introduced by M. of A. LIFTON -- 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
         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
   26  THIS SECTION OR NOT RELEVANT TO THE TAX AUTHORIZED BY THIS SECTION.  FOR
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02514-01-3
       A. 7465                             2
    1  PURPOSES  OF  THIS  SECTION, ANY REFERENCE IN THIS ARTICLE TO THE TAX OR
    2  TAXES IMPOSED BY THIS ARTICLE SHALL BE DEEMED TO REFER TO A TAX  IMPOSED
    3  PURSUANT  TO  THIS SECTION, AND ANY REFERENCE TO THE PHRASE "WITHIN THIS
    4  STATE"  SHALL  BE  READ  AS "WITHIN TOMPKINS COUNTY", UNLESS A DIFFERENT
    5  MEANING IS CLEARLY REQUIRED.
    6    3. WHERE THE REAL PROPERTY COVERED BY THE MORTGAGE SUBJECT TO THE  TAX
    7  IMPOSED  PURSUANT  TO  THE AUTHORITY OF THIS SECTION IS SITUATED IN THIS
    8  STATE BUT WITHIN AND WITHOUT THE COUNTY IMPOSING SUCH TAX, THE AMOUNT OF
    9  SUCH TAX DUE AND PAYABLE TO SUCH COUNTY SHALL BE DETERMINED IN A  MANNER
   10  SIMILAR TO THAT PRESCRIBED IN THE FIRST PARAGRAPH OF SECTION TWO HUNDRED
   11  SIXTY  OF  THIS  ARTICLE WHICH CONCERNS REAL PROPERTY SITUATED IN TWO OR
   12  MORE COUNTIES. WHERE SUCH PROPERTY IS SITUATED BOTH WITHIN  SUCH  COUNTY
   13  AND  WITHOUT  THE STATE, THE AMOUNT DUE AND PAYABLE TO SUCH COUNTY SHALL
   14  BE DETERMINED IN THE MANNER PRESCRIBED IN THE SECOND PARAGRAPH  OF  SUCH
   15  SECTION  TWO  HUNDRED  SIXTY WHICH CONCERNS PROPERTY SITUATED WITHIN AND
   16  WITHOUT THE STATE. WHERE REAL PROPERTY IS SITUATED  WITHIN  AND  WITHOUT
   17  THE  COUNTY IMPOSING SUCH TAX, THE RECORDING OFFICER OF THE JURISDICTION
   18  IN WHICH THE MORTGAGE IS FIRST RECORDED SHALL BE REQUIRED TO COLLECT THE
   19  TAXES IMPOSED PURSUANT TO THIS SECTION.
   20    4. A TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION SHALL BE IN
   21  ADDITION TO THE TAXES IMPOSED BY SECTION TWO HUNDRED FIFTY-THREE OF THIS
   22  ARTICLE.
   23    5. NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY,  THE
   24  BALANCE  OF  ALL MONEYS PAID TO THE RECORDING OFFICER OF TOMPKINS COUNTY
   25  DURING EACH MONTH UPON ACCOUNT  OF  THE  TAX  IMPOSED  PURSUANT  TO  THE
   26  AUTHORITY OF THIS SECTION, AFTER DEDUCTING THE NECESSARY EXPENSES OF HIS
   27  OR HER OFFICE AS PROVIDED IN SECTION TWO HUNDRED SIXTY-TWO OF THIS ARTI-
   28  CLE, EXCEPT TAXES PAID UPON MORTGAGES WHICH UNDER THE PROVISIONS OF THIS
   29  SECTION  OR  SECTION  TWO  HUNDRED SIXTY OF THIS ARTICLE ARE FIRST TO BE
   30  APPORTIONED BY THE COMMISSIONER, SHALL BE PAID OVER BY SUCH  OFFICER  ON
   31  OR  BEFORE  THE  TENTH  DAY OF EACH SUCCEEDING MONTH TO THE TREASURER OF
   32  TOMPKINS COUNTY AND, AFTER THE DEDUCTION BY SUCH TREASURER OF THE NECES-
   33  SARY EXPENSES OF HIS OR HER  OFFICE  PROVIDED  IN  SECTION  TWO  HUNDRED
   34  SIXTY-TWO  OF THIS ARTICLE SHALL BE DEPOSITED IN THE GENERAL FUND OF THE
   35  COUNTY OF TOMPKINS FOR EXPENDITURE ON ANY COUNTY PURPOSE.
   36  NOTWITHSTANDING THE PROVISIONS OF THE PRECEDING  SENTENCE,  THE  TAX  SO
   37  IMPOSED  AND  PAID UPON MORTGAGES COVERING REAL PROPERTY SITUATED IN TWO
   38  OR MORE COUNTIES, WHICH UNDER THE PROVISIONS OF THIS SECTION OR  SECTION
   39  TWO  HUNDRED  SIXTY  OF  THIS ARTICLE ARE FIRST TO BE APPORTIONED BY THE
   40  COMMISSIONER, SHALL BE PAID OVER BY THE RECORDING OFFICER RECEIVING  THE
   41  SAME AS PROVIDED BY THE DETERMINATION OF SAID COMMISSIONER.
   42    6.  ANY  LOCAL  LAW  IMPOSING  A TAX PURSUANT TO THE AUTHORITY OF THIS
   43  SECTION OR REPEALING OR SUSPENDING SUCH A TAX SHALL TAKE EFFECT ONLY  ON
   44  THE  FIRST DAY OF A CALENDAR MONTH. SUCH A LOCAL LAW SHALL NOT BE EFFEC-
   45  TIVE UNLESS A CERTIFIED COPY THEREOF IS MAILED BY REGISTERED  OR  CERTI-
   46  FIED  MAIL TO THE COMMISSIONER AT THE COMMISSIONER'S OFFICE IN ALBANY AT
   47  LEAST THIRTY DAYS PRIOR TO THE DATE THE LOCAL LAW SHALL TAKE EFFECT.
   48    7. CERTIFIED COPIES OF ANY LOCAL LAW DESCRIBED IN THIS  SECTION  SHALL
   49  ALSO  BE  FILED  WITH  THE  COUNTY  CLERK OF THE COUNTY OF TOMPKINS, THE
   50  SECRETARY OF STATE AND THE STATE COMPTROLLER WITHIN FIVE DAYS AFTER  THE
   51  DATE IT IS DULY ENACTED.
   52    S  2.  This  act shall take effect on the thirtieth day after it shall
   53  have become a law, and shall expire and be deemed repealed  December  1,
   54  2016.