BILL NUMBER: S8555
SPONSOR: PALUMBO
 
TITLE OF BILL:
An act to amend chapter 282 of the laws of 2003, amending the town law
relating to authorizing the town of Brookhaven, in the county of
Suffolk, to establish a community preservation fund and amending the tax
law relating to authorizing such town to impose a real estate transfer
tax with revenues therefrom to be deposited in such community preserva-
tion fund, in relation to the effectiveness thereof
 
PURPOSE:
Extends the authority for the town of Brookhaven to impose a real estate
transfer tax with revenues to be deposited into a community preservation
fund.
 
SUMMARY OF PROVISIONS:
Section 1. Amends section 5 of chapter 282 of the laws of 2003 which
amends the town law authorizing the town of Brookhaven to establish a
community preservation fund and amending the tax law to impose a real
estate transfer tax with revenues going into such fund. Subsection 5.
Expires December 31, 2025, extending to December 31, 2045.
Section 2. Sets for the effective date.
 
JUSTIFICATION:
This program is set to expire on December 31, 2025.
 
LEGISLATIVE HISTORY:
New bill
 
FISCAL IMPLICATIONS:
 
EFFECTIVE DATE:
Immediately