Bill
Bill > A08685
NY A08685
NY A08685Extends the effectiveness of certain provisions authorizing the county of Madison to impose an additional mortgage recording tax until December 1, 2027.
summary
Introduced
05/29/2025
05/29/2025
In Committee
06/12/2025
06/12/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend chapter 332 of the laws of 2019, amending the tax law relating to authorizing the county of Madison to impose an additional mortgage recording tax, in relation to extending the effectiveness thereof
AI Summary
This bill extends the effectiveness of a previously enacted law that allows Madison County in New York to impose an additional mortgage recording tax. Specifically, the bill amends chapter 332 of the laws of 2019 by changing the expiration date of the tax authorization from December 1, 2025, to December 1, 2027. A mortgage recording tax is a fee charged by local governments when a mortgage is recorded, typically calculated as a percentage of the mortgage amount. This extension provides Madison County with two more years to continue collecting this additional tax, which can be used to generate revenue for county operations or specific projects. The bill will take effect immediately upon passage, allowing for a seamless continuation of the county's existing tax collection authority.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Companion passed 2025-08-07 (on 08/07/2025)
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/A8685 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A08685&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A08685 |
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