New York Assembly Bill A08114

New York 2025-2026 Regular Session

• Introduced: 4/30/25
• Refer: 4/30/25
• Report Pass: 6/12/25
• Refer: 6/12/25
• Report Pass: 6/13/25

Caption

Extends the authorization to impose a county recording tax on obligations secured by a mortgage on real property in Albany County.

Summary

A08114 extends the sunset date for Albany County’s authority to impose a county recording tax on obligations secured by a mortgage on real property. The bill amends a 2005 chapter that originally authorized the county to levy this mortgage recording tax, and it changes the expiration date from December 1, 2025 to December 1, 2027. The measure is a narrow technical extension rather than a new tax program, and it keeps the existing local taxing authority in place for two additional years. Because the bill only changes the duration of an existing authorization, it does not create a new tax rate or alter the underlying structure of the mortgage recording tax. Its practical effect is to preserve Albany County’s ability to continue collecting revenue from mortgage recordings during the extended period, which may support county operations or local fiscal planning. The bill takes effect immediately upon enactment.

Impact

The bill amends chapter 405 of the laws of 2005, as previously amended, by extending the repeal date for Albany County’s authority to impose a county recording tax on mortgages. It changes state law only with respect to the duration of that local authorization, moving the sunset from December 1, 2025 to December 1, 2027. The affected parties are Albany County, mortgage borrowers, and parties involved in real property financing and recording transactions in the county.

Sentiment

The available legislative history suggests the bill was received favorably and with little opposition. It passed the Assembly Ways and Means Committee by a wide margin and then received unanimous favorable action in the Assembly Rules Committee. The absence of committee transcript debate and the strong vote totals indicate general support for continuing the county’s existing mortgage recording tax authority.

Contention

There is little evidence of substantive controversy in the available materials. The main policy issue is the continued extension of a local tax on mortgage-secured obligations, which can affect homebuyers, borrowers, and real estate transactions through closing costs. However, the committee votes show minimal resistance, and no specific objections or competing viewpoints are reflected in the provided record.