BILL NUMBER: S8275
SPONSOR: GRIFFO
 
TITLE OF BILL:
An act to amend chapter 332 of the laws of 2019, amending the tax law
relating to authorizing the county of Madison to impose an additional
mortgage recording tax, in relation to extending the effectiveness ther-
eof
 
PURPOSE:
This bill will extend Madison County's authority to impose an additional
mortgage recording tax.
 
SUMMARY OF PROVISIONS:
Section one of the bill amends Section 2 of chapter 332 of the laws of
2019, as amended by chapter 465 of the laws of 2022, to extend the expi-
ration date for Madison county's authority to impose an additional mort-
gage recording tax from December 1, 2025, to December 1, 2027.
Section two provides that the act shall take effect immediately.
 
JUSTIFICATION:
The county of Madison has requested this legislation to extend their
authority to-impose an additional mortgage recording tax until December
1, 2027.
 
LEGISLATIVE HISTORY:
2022 - S. 8905/A. 10173 - Chapter 465 of the Laws of 2022.
 
FISCAL IMPLICATIONS:
None to the State. This bill would generate additional revenue for Madi-
son County.
 
EFFECTIVE DATE:
This act shall take effect immediately.