Directs the remainder of the balance of certain funds paid to the recording officer of the county of Essex, to be used towards expenditures for county and public safety facility projects; extends certain provisions relating thereto to December 1, 2027.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A9277A
SPONSOR: Simpson TITLE OF BILL:
An act to amend the tax law, in relation to expenditures for Essex coun-
ty correctional and public safety facilities projects; and to amend
chapter 327 of the laws of 2006 amending the tax law relating to author-
izing the county of Essex to impose an additional mortgage recording
tax, in relation to extending the effectiveness thereof
PURPOSE OR GENERAL IDEA OF BILL:
To extend for two years the mortgage recording tax in Essex County.
SUMMARY OF PROVISIONS:
Section 1 - Amends subdivision 5 of section 253-j of the tax law so
mortgage tax proceeds are deposited in the county's general fund.
Section 2 - Extends the authority of Essex County to impose an addi-
tional mortgage tax through Dec. 1, 2027
Section 3 - Provides effective date
JUSTIFICATION:
In December 2023, the Essex County Board of Supervisors adopted two
resolutions seeking this legislation. Without this bill, the county's
decades-old mortgage recording tax would sunset on Dec. 1, 2024. The
mortgage tax is an important and necessary source of revenue for the
county. Since 2006, that money had been set aside for capital projects
at the county's public safety complex. The bonds for those projects are
set to be paid off. This legislation would permit the revenue generated
by the mortgage tax to instead flow directly into the county's general
fund, which is typical among counties within New York state.
PRIOR LEGISLATIVE HISTORY:
New Bill
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None to the State
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
9277--A
IN ASSEMBLY
February 23, 2024
___________
Introduced by M. of A. SIMPSON -- read once and referred to the Commit-
tee on Ways and Means -- recommitted to the Committee on Ways and
Means in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to expenditures for Essex coun-
ty correctional and public safety facilities projects; and to amend
chapter 327 of the laws of 2006 amending the tax law relating to
authorizing the county of Essex to impose an additional mortgage
recording tax, in relation to extending the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 5 of section 253-j of the tax law, as added by
2 chapter 327 of the laws of 2006, is amended to read as follows:
3 5. Notwithstanding any provision of this article to the contrary, the
4 balance of all moneys paid to the recording officer of the county of
5 Essex during each month upon account of the tax imposed pursuant to the
6 authority of this section, after deducting the necessary expenses of his
7 or her office as provided in section two hundred sixty-two of this arti-
8 cle, except taxes paid upon mortgages which under the provisions of this
9 section or section two hundred sixty of this article are first to be
10 apportioned by the commissioner, shall be paid over by such officer on
11 or before the tenth day of each succeeding month to the treasurer of
12 Essex county and, after the deduction by such treasurer of the necessary
13 expenses of his or her office provided in section two hundred sixty-two
14 of this article shall be deposited in the general fund of the county of
15 Essex [for expenditure on all expenses incurred by such county for coun-
16 ty correctional and public safety facility projects]. Notwithstanding
17 the provisions of the preceding sentence, the tax so imposed and paid
18 upon mortgages covering real property situated in two or more counties,
19 which under the provisions of this section or section two hundred sixty
20 of this article are first to be apportioned by the commissioner, shall
21 be paid over by the recording officer receiving the same as provided by
22 the determination of the commissioner.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14463-03-4
A. 9277--A 2
1 § 2. Section 3 of chapter 327 of the laws of 2006 amending the tax law
2 relating to authorizing the county of Essex to impose an additional
3 mortgage recording tax, as amended by chapter 514 of the laws of 2021,
4 is amended to read as follows:
5 § 3. This act shall take effect immediately; provided, however, that
6 this act shall expire and be deemed repealed December 1, [2024] 2027.
7 § 3. This act shall take effect immediately and shall be deemed to
8 have been in full force and effect on and after December 1, 2024;
9 provided, however, that the amendments to subdivision 5 of section 253-j
10 of the tax law made by section one of this act shall not affect the
11 repeal of such section and shall be deemed repealed therewith.
