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A08120 Summary:

BILL NOA08120
 
SAME ASSAME AS S03327
 
SPONSORThiele
 
COSPNSRSayegh
 
MLTSPNSR
 
Amd §518, RPT L
 
Provides that local assessor offices no longer must add a code to notification forms for creation of termination of a mortgage escrow account.
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A08120 Actions:

BILL NOA08120
 
10/13/2023referred to real property taxation
01/03/2024referred to real property taxation
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A08120 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A8120
 
SPONSOR: Thiele
  TITLE OF BILL: An act to amend the real property tax law, in relation to tax billing addresses   PURPOSE: The purpose of this bill is to relieve local assessor offices of the undue and completely unnecessary burden of adding a code to notification forms for creation or termination of a mortgage escrow account.   SUMMARY OF PROVISIONS: Banks or tax service organizations (TSOs) send notification of the creation or termination of mortgage escrow accounts to the County Direc- tor. The County sorts boxes of forms and forwards them to the appropri- ate assessor, who then adds a code to their data file for the bank or TSO. Small banks generally request bills directly from the Receiver of Taxes who pulls and sends them to that bank. Large TSOs get their bills electronically from the County directly. In either case, the bank code on the assessor's file is never used for any purpose.   JUSTIFICATION: A great deal of time and labor is committed to the adding of assessor codes to the notification forms for creation or termination of a mort- gage escrow account Given these codes are not used for any purpose, this bill would provide much-needed mandate relief to many of our local assessor offices and governments without impacting any use or service whatsoever.   LEGISLATIVE HISTORY: 2013-14: S.5679/A.7676 2015-16: S.4254/A.3352 2017: S.5400A/A.2438A - Veto 157 2019-20: S.1649/A.10370 2021-22: S.1823A/A.6850A   FISCAL IMPLICATIONS: None.   EFFECTIVE DATE: This act shall take effect immediately.
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