New York Assembly Bill A02728

New York 2025-2026 Regular Session

• Introduced: 1/22/25
• Refer: 1/22/25
• Report Pass: 6/6/25
• Refer: 6/6/25
• Report Pass: 6/10/25

Caption

Extends provisions of law authorizing the county of Livingston to impose an additional mortgage recording tax until December 1, 2027.

Summary

Bill A02728 seeks to amend the tax law to extend the authority of the county of Livingston to impose an additional mortgage recording tax. Originally established in 2019, this provision allows the county to collect an extra fee on mortgage recordings, which is a source of revenue for local government. The current bill proposes to extend the expiration date of this authority from December 1, 2025, to December 1, 2027, thereby allowing continued collection of this tax for an additional two years.

Impact

The bill will impact state laws by extending the provisions of the existing tax law that governs the additional mortgage recording tax in Livingston County. This extension will provide the county with a continued revenue stream, which may be used for various local government services and infrastructure projects. The bill does not introduce new tax rates but maintains the existing framework for the additional tax.

Sentiment

The sentiment around Bill A02728 appears to be positive, as evidenced by the unanimous support in the Assembly Ways and Means Committee and the Assembly Rules Committee. The favorable votes indicate a consensus among committee members regarding the necessity of extending the tax authority for local revenue purposes.

Contention

There are no notable points of contention reported in the discussions surrounding this bill. The unanimous votes suggest that there is broad agreement on the need for the additional mortgage recording tax extension, with no significant opposition raised during committee discussions or voting.