Bill
Bill > S02111
NY S02111
Extends the authority for the county of Otsego to impose an additional mortgage recording tax.
summary
Introduced
01/15/2025
01/15/2025
In Committee
05/27/2025
05/27/2025
Crossed Over
05/27/2025
05/27/2025
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend chapter 374 of the laws of 2024 amending the tax law relating to authorizing the county of Otsego to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
AI Summary
This bill extends the authority for Otsego County to impose an additional mortgage recording tax by modifying a previous law from 2024. Specifically, the bill changes the expiration date of the county's ability to levy this extra tax from December 31, 2025, to December 31, 2027. A mortgage recording tax is a fee charged when a mortgage is recorded with local government, typically calculated as a percentage of the mortgage amount. By extending the sunset date, the bill allows Otsego County to continue collecting this additional tax for two more years beyond the original expiration date. The bill takes effect immediately upon passage, which means the new expiration date of December 31, 2027, is in place as soon as the bill is signed into law.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
referred to ways and means (on 05/27/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/S2111 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S02111&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02111 |
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