BILL NUMBER: S6336
SPONSOR: BORRELLO
 
TITLE OF BILL:
An act to amend chapter 579 of the laws of 2004, amending the tax law
relating to authorizing the county of Genesee to impose a county record-
ing tax on obligation secured by a mortgage on real property, in
relation to the effectiveness thereof
 
PURPOSE OR GENERAL IDEA OF BILL:
The bill would extend the authority of Genesee County, acting through
its local legislative body, to adopt a local law imposing a mortgage
recording tax of 25 cents for each $100 of real property secured by a
mortgage.
The Genesee 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
Genesee County for use as the County Legislature approves.
 
SUMMARY OF PROVISIONS:
Section 1: Section 2 of chapter 579 of the laws of 2004, amending the
tax law relating to authorizing the county of Genesee to impose a county
recording tax on obligation secured by a mortgage on real property.
Section 2: This act shall take effect on the thirtieth day after it
shall have become a law; and shall expire on November 1, 2027.
Section 2: This act shall take effect immediately.
 
JUSTIFICATION:
Extends the authority of Genesee County to impose an additional county
recording tax on certain mortgage obligations until November 1, 2025.
 
PRIOR LEGISLATIVE HISTORY:
2025: New Bill
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None
 
EFFECTIVE DATE:
Immediately