BILL NUMBER: S9041
SPONSOR: HINCHEY
 
TITLE OF BILL:
An act to amend chapter 443 of the laws of 2006, amending the tax law
relating to authorizing the town of Red Hook to impose a real estate
transfer tax with revenues therefrom to be deposited in said community
preservation fund, in relation to the effectiveness thereof
 
PURPOSE:
To extend the town of Red Hook's preservation funds and tax on real
estate transfers in the town until 2051.
 
SUMMARY OF PROVISIONS:
Section 1 amends section 4 of chapter 443 of the laws of 2006, amending
tax law relating to authorizing the town of Red Hook to impose a real
estate transfer tax with revenues therefrom to be deposited in said
community preservation fund, so that the law shall expire December 31,
2051.
Section 2 states the effective date.
 
JUSTIFICATION:
The Town of Red Hook is requesting that the New York State Legislature
introduce and pass a bill to authorize the town to continue to impose a
real estate transfer tax for the period through December 26, 2051.
 
LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
None to the state.
 
EFFECTIVE DATE:
This act shall take effect immediately.