NY A06783

Increases recording fees on real property instruments from $5 to $7.50 for the local government records management improvement fund and from $15 to $22.50 for the cultural education account in counties and New York City.

Authorizes formula grants to county clerks and New York City record-keeping agencies equal to 75 cents multiplied by the number of transactions subject to the surcharge in the prior calendar year.

Requires the Commissioner of Education to deposit collected surcharge revenues to the local government records management improvement fund by the tenth day of the month following receipt.

Applies the increased fees to recording instruments required by New York statute, including real property records and Supreme Court records in New York City.

Takes effect 60 days after becoming law.