Extends the effectiveness of the authority of the town of Red Hook to impose real estate transfer taxes and to deposit revenue from such taxes into a community preservation fund.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A10052
SPONSOR: Shrestha 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 OR GENERAL IDEA OF BILL:
To extend the town of Red Hook's preservation funds and tax on real
estate transfers in the town until 2051.
SUMMARY OF SPECIFIC 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 sets 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.
PRIOR LEGISLATIVE HISTORY:
New bill.
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None for the state.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
10052
IN ASSEMBLY
January 30, 2026
___________
Introduced by M. of A. SHRESTHA -- read once and referred to the Commit-
tee on Local Governments
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
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 4 of chapter 443 of the laws of 2006, amending the
2 tax law relating to authorizing the town of Red Hook to impose a real
3 estate transfer tax with revenues therefrom to be deposited in said
4 community preservation fund, is amended to read as follows:
5 § 4. This act shall take effect immediately; provided, however, that
6 section two of this act shall take effect on the ninetieth day after it
7 shall have become a law and shall expire December 31, [2026] 2051 when
8 upon such date the provisions of such section shall be deemed repealed.
9 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14450-01-6
