Bill > S08275

This bill extends the effectiveness of a previously passed law (Chapter 332 of the Laws of 2019) that authorizes Madison County to impose an additional mortgage recording tax. Specifically, the bill changes the expiration date of the law from December 1, 2025, to December 1, 2027, effectively giving the county two more years to continue levying this special tax. A mortgage recording tax is a fee charged when a mortgage is recorded with local government authorities, typically calculated as a percentage of the mortgage amount. By extending the sunset date, the county will maintain its ability to collect this additional tax revenue beyond the previous expiration date. The bill takes effect immediately upon passage, which is standard for local tax authorization measures that require counties to have clear, uninterrupted taxing authority.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8275