BILL NUMBER: S5780A
SPONSOR: OBERACKER
 
TITLE OF BILL:
An act to amend the tax law, in relation to authorizing the county of
Chenango to impose an additional mortgage recording tax; and providing
for the repeal of such provisions upon expiration thereof
 
PURPOSE:
To authorize Chenango County to levy an additional mortgage recording
tax of twenty-five cents (25) for each one hundred dollars ($100) of
mortgage value for a two year period.
 
SUMMARY OF PROVISIONS:
Section 1 of the bill amends section 1210 of the tax law to add a new
section, 253-z, authorizing Chenango County to impose an additional
mortgage recording tax of twenty-five cents (25) for each one hundred
dollars ($100) of mortgage value through December 31, 2025. Section 2
provides an effective date.
 
JUSTIFICATION:
The Chenango County Board of Supervisors has adopted a resolution
(No.251-22P) requesting that the state legislature introduce and pass
legislation to authorize the county to impose an additional mortgage
recording tax for the period through December 31, 2025. This measure is
a home rule request.
 
LEGISLATIVE HISTORY:
New bill
 
LOCAL AND STATE FISCAL IMPLICATIONS:
None to state
 
EFFECTIVE DATE:
Sixtieth day after shall it have become a law and shall expire and be
deemed repealed December 31, 2025