New York Assembly Bill A05351

New York 2025-2026 Regular Session

• Introduced: 2/13/25
• Refer: 2/13/25
• Report Pass: 5/22/25
• Refer: 5/22/25
• Report Pass: 6/12/25

Caption

Extends the mortgage recording tax for Chenango county; relates to the depositing of mortgage recording tax funds into the general fund of the county of Chenango.

Summary

Bill A05351 amends the tax law to extend the authority of Chenango County to impose an additional mortgage recording tax. This extension allows the county to continue collecting this tax beyond its previous expiration date of December 31, 2025, now set to expire on December 31, 2027. The bill also specifies that the funds generated from this tax will be deposited into the general fund of Chenango County, providing a source of revenue for local government operations.

Impact

The bill impacts state laws by modifying existing tax provisions related to mortgage recording taxes specifically for Chenango County. By extending the tax's duration and designating its revenue for the county's general fund, it enables local government to maintain financial resources necessary for public services and infrastructure projects. This change may also influence the financial planning and budgeting processes within the county.

Sentiment

The general sentiment around Bill A05351 appears to be favorable, as evidenced by the voting history where it received strong support in committee votes, with 29 yeas and only 2 nays in the Assembly Ways and Means Committee. This indicates a consensus among committee members regarding the necessity of the tax extension for local funding.

Contention

While there is no significant contention noted in the discussions or voting history, the potential for opposition could arise from taxpayers concerned about increased tax burdens. However, no specific dissenting opinions or arguments against the bill were recorded in the available transcripts or voting summaries.