Extends the authorization of the county of Wyoming to impose a county recording tax on obligations secured by a mortgage on real property from December 1, 2024 to December 1, 2027.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A9263
SPONSOR: DiPietro TITLE OF BILL:
An act to amend chapter 185 of the laws of 2005, amending the tax law
relating to authorizing the county of Wyoming to impose a county record-
ing tax on obligations secured by a mortgage on real property, in
relation to the expiration thereof
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this legislation is to extend the authorization of the
county of Wyoming to impose a county recording tax on obligations
secured by a mortgage on real property to December 2, 2027
SUMMARY OF PROVISIONS:
Section 1: amends the tax law to extend the authority of the county of
Wyoming to impose a county recording tax on obligations secured by a
mortgage on real property to December 1, 2027.
Section 2: provides that the act shall take effect immediately.
DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE):
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JUSTIFICATION:
The Wyoming County Legislature has passed a resolution requesting exten-
sion of its authority to charge a county mortgage recording tax. The tax
is collected by the county at the same time as the state mortgage
recording taxes are. All revenue from the county tax, after deducting
expenses of mortgage recording offices, goes to the general fund of
Wyoming County for use as the County Legislature approves.
PRIOR LEGISLATIVE HISTORY:
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FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
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EFFECTIVE DATE:
This act shall take effect immediately
STATE OF NEW YORK
________________________________________________________________________
9263
IN ASSEMBLY
February 22, 2024
___________
Introduced by M. of A. DiPIETRO -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend chapter 185 of the laws of 2005, amending the tax law
relating to authorizing the county of Wyoming to impose a county
recording tax on obligations secured by a mortgage on real property,
in relation to the expiration thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of chapter 185 of the laws of 2005, amending the
2 tax law relating to authorizing the county of Wyoming to impose a county
3 recording tax on obligations secured by a mortgage on real property, as
4 amended by chapter 510 of the laws of 2021, is amended to read as
5 follows:
6 § 2. This act shall take effect on the thirtieth day after it shall
7 have become a law and shall expire December 1, [2024] 2027 when upon
8 such date the provisions of this act shall be deemed repealed.
9 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14623-01-4
