New York S 8555: Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund

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S08555 Summary:

BILL NOS08555 

&nbsp

SAME ASSAME AS A09652

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SPONSORPALUMBO

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §5, Chap 282 of 2003

&nbsp

Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund until 2045.

Go to top S08555 Actions:

BILL NOS08555 

&nbsp

10/29/2025REFERRED TO RULES

01/07/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

02/10/20261ST REPORT CAL.349

02/11/20262ND REPORT CAL.

02/24/2026ADVANCED TO THIRD READING 

05/28/2026PASSED SENATE

05/28/2026DELIVERED TO ASSEMBLY

05/28/2026referred to local governments

Go to topS08555 Committee&nbspVotes:

Go to topS08555 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08555 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8555

 2025-2026 Regular Sessions

 IN SENATE

 October 29, 2025
 ___________

 Introduced by Sen. PALUMBO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Rules

 AN ACT to amend chapter 282 of the laws of 2003, amending the town law
 relating to authorizing the town of Brookhaven, in the county of
 Suffolk, to establish a community preservation fund and amending the
 tax law relating to authorizing such town to impose a real estate
 transfer tax with revenues therefrom to be deposited in such community
 preservation fund, in relation to 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 5 of chapter 282 of the laws of 2003, amending the
 2 town law relating to authorizing the town of Brookhaven, in the county
 3 of Suffolk, to establish a community preservation fund and amending the
 4 tax law relating to authorizing such town to impose a real estate trans-
 5 fer tax with revenues therefrom to be deposited in such community pres-
 6 ervation fund, is amended to read as follows:
 7 § 5. This act shall take effect immediately; provided that article
 8 31-B of the tax law, as added by section three of this act, shall remain
 9 in full force and effect until December 31, [2025] 2045 when upon such
 10 date the provisions of such section three of this act shall expire and
 11 be deemed repealed, provided however, that the tax authorized by section
 12 three of this act shall not take effect before July 1, 2003.
 13 § 2. This act shall take effect immediately; provided, however, that
 14 if this act shall have become a law on or after December 31, 2025 this
 15 act shall take effect immediately and shall be deemed to have been in
 16 full force and effect on and after December 31, 2025.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13914-01-5

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