New York S 7525: Extends the authorization to impose a county recording tax on obligations secured by a mortgage on real property in Albany County

Bill Text

STATE OF NEW YORK
________________________________________________________________________
7525--A
Cal. No. 879
2025-2026 Regular Sessions
IN SENATE
April 21, 2025
___________
Introduced by Sen. FAHY -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- reported favorably from said committee, ordered to
first and second report, ordered to a third reading, passed by Senate
and delivered to the Assembly, recalled, vote reconsidered, restored
to third reading, amended and ordered reprinted, retaining its place
in the order of third reading
AN ACT to amend chapter 405 of the laws of 2005 amending the tax law
relating to authorizing the county of Albany to impose a county
recording tax on obligations secured by a mortgage on real property,
in relation to extending the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:
1 Section 1. Section 2 of chapter 405 of the laws of 2005 amending the
2 tax law relating to authorizing the county of Albany to impose a county
3 recording tax on obligations secured by a mortgage on real property, as
4 amended by chapter 338 of the laws of 2023, is amended to read as
5 follows:
6 § 2. This act shall take effect on the thirtieth day after it shall
7 have become a law and shall expire and be deemed repealed on the first
8 of December, [ ] .2025 2027
9 § 2. This act shall take effect immediately.
EXPLANATION--Matter in (underscored) is new; matter in bracketsitalics
[ ] is old law to be omitted.
LBD11704-03-5