Bill
Bill > A04606
NY A04606
NY A04606Authorizes 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; provides for the repeal of such provisions upon the expiration thereof.
summary
Introduced
02/17/2023
02/17/2023
In Committee
06/21/2023
06/21/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 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, which can be used for various purposes related to preserving the town's community character, such as acquiring open space, farmland, and historic properties. The bill also authorizes the town to impose a real estate transfer tax of up to 0.75% on property conveyances, with the revenue from this tax to be deposited into the community preservation fund. The bill provides details on the administration and use of the fund, as well as the structure and responsibilities of an advisory board that will oversee the fund's activities. The real estate transfer tax provisions will expire on December 31, 2043 unless further extended by the legislature.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
substituted by s4712b (on 06/21/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...