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New York State Assembly

Speaker Carl E. Heastie
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A07443 Summary:

BILL NOA07443
 
SAME ASSAME AS S06216
 
SPONSORSmullen
 
COSPNSR
 
MLTSPNSR
 
Amd §2, Chap 489 of 2004
 
Extends provisions allowing the county of Fulton to impose a county recording tax on obligation secured by a mortgage on real property to November 30, 2027.
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A07443 Actions:

BILL NOA07443
 
03/28/2025referred to ways and means
06/06/2025reported referred to rules
06/12/2025reported
06/12/2025rules report cal.664
06/12/2025ordered to third reading rules cal.664
06/13/2025substituted by s6216
 S06216 AMEND= WALCZYK
 03/06/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
 04/29/20251ST REPORT CAL.844
 04/30/20252ND REPORT CAL.
 05/01/2025ADVANCED TO THIRD READING
 05/27/2025PASSED SENATE
 05/27/2025DELIVERED TO ASSEMBLY
 05/27/2025referred to ways and means
 06/13/2025substituted for a7443
 06/13/2025ordered to third reading rules cal.664
 06/13/2025home rule request
 06/13/2025passed assembly
 06/13/2025returned to senate
 08/04/2025DELIVERED TO GOVERNOR
 08/07/2025SIGNED CHAP.287
 03/06/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
 04/29/20251ST REPORT CAL.844
 04/30/20252ND REPORT CAL.
 05/01/2025ADVANCED TO THIRD READING
 05/27/2025PASSED SENATE
 05/27/2025DELIVERED TO ASSEMBLY
 05/27/2025referred to ways and means
 06/13/2025substituted for a7443
 06/13/2025ordered to third reading rules cal.664
 06/13/2025home rule request
 06/13/2025passed assembly
 06/13/2025returned to senate
 08/04/2025DELIVERED TO GOVERNOR
 08/07/2025SIGNED CHAP.287
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A07443 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)




 
BILL NUMBER: A7443
 
SPONSOR: Smullen

 
TITLE OF BILL:
 
An act to amend chapter 489 of the laws of 2004 amending the tax law
relating to the mortgage recording tax in the county of Fulton, in
relation to the effectiveness of such chapter
 
 
PURPOSE OR GENERAL IDEA OF BILL:
 
Extends authorization of the county of Fulton to impose a county record-
ing tax on obligation secured by a mortgage on real property.
 
 
SUMMARY OF PROVISIONS:.
 
Section 1. Section 2 of chapter 489 of the laws of 2004 amending the tax
law relating to authorizing the county of Fulton to impose a county
recording tax on obligation secured by a mortgage on real property, in
relation to extending the effectiveness thereof as amended by chapter
300 of the laws of 2023, is amended to read as follows:
 
§ 2. This act shall take effect immediately and shall expire November
30,  
2025 2027 when upon such date the provisions of this act shall be
deemed repealed.
 
Section 2. Provides the effective date.
 
 
JUSTIFICATION:
 
The county of Fulton has requested this legislation to extend their
authority to impose a mortgage recording tax in the amount of twenty-
five cents for each one hundred dollars, until December 1, 2027. The
County of Fulton is faced with continuing fiscal pressure in the fore-
seeable future, and wishes to minimize the burden on local property
taxpayers; and because of said requirements and others, an extension of
the county mortgage recording tax is needed. This was requested by the
Fulton County Board of Supervisors.
 
 
PRIOR LEGISLATIVE HISTORY:
 
New Bill
 
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
 
None to the State.
 
 
EFFECTIVE DATE:
This act shall take effect immediately.
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A07443 Text:




 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7443
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                     March 28, 2025
                                       ___________
 
        Introduced  by M. of A. SMULLEN -- read once and referred to the Commit-
          tee on Ways and Means
 
        AN ACT to amend chapter 489 of the laws of 2004  amending  the  tax  law
          relating  to  the  mortgage  recording tax in the county of Fulton, in
          relation to the effectiveness of such chapter

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section 2 of chapter 489 of the laws of 2004 amending the
     2  tax law relating to the mortgage recording tax in the county of  Fulton,
     3  as  amended  by  chapter  300 of the laws of 2023, is amended to read as
     4  follows:
     5    § 2. This act shall take effect immediately and shall expire  November
     6  30,  [2025] 2027 when upon such date the provisions of this act shall be
     7  deemed repealed.
     8    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10776-01-5
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