New York Senate Bill S03626

New York 2025-2026 Regular Session

• Introduced: 1/29/25
• Refer: 1/29/25
• Engrossed: 5/27/25
• Refer: 5/27/25
• Engrossed: 6/13/25
• Enrolled: 8/4/25
• Chaptered: 8/7/25
• Passed: 8/7/25

Caption

Extends the authorization for the county of Schoharie to impose a county recording tax on obligation secured by a mortgage on real property.

Summary

Bill S03626 extends the authorization for the county of Schoharie to impose a county recording tax on obligations secured by a mortgage on real property. This extension allows the county to continue collecting this tax beyond its previous expiration date of December 1, 2025, now set to expire on December 1, 2027. The bill aims to provide the county with continued revenue from this tax, which is crucial for local government funding and services.

Impact

The bill impacts state tax law by specifically allowing the county of Schoharie to maintain its authority to impose a recording tax on mortgages. This extension is significant for local governance as it ensures a consistent revenue stream for the county, which can be utilized for various public services and infrastructure projects. It also sets a precedent for other counties seeking similar extensions or tax authorizations.

Sentiment

The general sentiment surrounding the bill appears to be supportive, as evidenced by the voting history. The Senate Investigations and Government Operations Committee voted unanimously in favor, and the final passage in both the Senate and Assembly saw a majority of votes in favor, indicating a strong consensus among lawmakers regarding the necessity of this tax extension.

Contention

There were no notable points of contention mentioned in the discussions or voting history surrounding this bill. The unanimous support in committee and the significant majority in both legislative chambers suggest that there were no significant opposing views on the matter.