BILL NUMBER: S5607
SPONSOR: WALCZYK
 
TITLE OF BILL:
An act to amend chapter 549 of the laws of 2005 amending the tax law
relating to authorizing the county of Herkimer to impose a county
recording tax on obligation secured by a mortgage on real property, in
relation to extending the effectiveness thereof
 
PURPOSE OR GENERAL IDEA OF BILL:
Extends authorization of the county of Herkimer to impose a county
recording tax on obligation secured by a mortgage on real property.
 
SUMMARY OF PROVISIONS:
Section 1 - Section 2 of chapter 549 of the laws of 2005 amending the
tax law relating to authorizing the county of Herkimer to impose a coun-
ty recording tax on obligation secured by a mortgage on real property,
in relation to extending the effectiveness thereof as amended by chapter
332 of the laws of 2023.
Section 2 - Provides the effective date.
 
JUSTIFICATION:
The county of Herkimer has requested this legislation to extend their
authority to impose a mortgage recording tax in the amount of twenty-
five cents for each one hundred dollars, until December 1, 2027.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None to the State.
 
EFFECTIVE DATE:
This act shall take effect immediately.