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NY A04626
Bill
Status
Introduced
2/4/2011
Primary Sponsor
Andrew Raia
Click for details
AI Summary
- Adds a new exemption to New York tax law for mortgages on residential real property securing debt of less than $300,000
- Exemption applies when the new mortgage discharges a prior mortgage on the same residential property and all parties to both mortgages are identical
- Exempts qualifying refinanced mortgages from any tax or fee imposed under the mortgage tax article
- Effective date is January 1 of the year following enactment
Legislative Description
Exempts refinancing of certain mortgages from tax on mortgages.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means2/4/2011
Full Bill Text
No bill text available