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Bill > S09473
NY S09473
NY S09473Authorizes the town of Orangetown to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund.
summary
Introduced
06/01/2022
06/01/2022
In Committee
06/01/2022
06/01/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the town law, in relation to authorizing the town of Orangetown, county of Rockland to establish community preservation funds; to amend the tax law, in relation to authorizing the town of Orangetown to impose a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund; and providing for the repeal of certain provisions upon expiration thereof
AI Summary
This bill authorizes the town of Orangetown to establish a community preservation fund and allows the town to impose a real estate transfer tax, with the revenue from the tax deposited into the community preservation fund. The fund can be used for various purposes related to preserving community character, such as acquiring interests in real property, establishing a transfer of development rights program, and providing management and stewardship of the acquired interests. The bill also establishes the procedures and requirements for the real estate transfer tax, including definitions, payment and collection, exemptions, and enforcement.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
PRINT NUMBER 9473A (on 06/02/2022)
Official Document
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