Loading chat...

NY A04499

Bill

Official Source

Status

Introduced

2/5/2013

Primary Sponsor

Andrew Raia

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends Section 252-a of the tax law to add a new exemption from mortgage taxes and fees
  • Exempts mortgages on residential real property that secure debt of less than $300,000 from all taxes and fees under the mortgage tax article
  • Applies only when the refinanced mortgage discharges a prior mortgage on the same residential property and all parties to both mortgages are identical
  • Takes effect on January 1st 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

6/17/2014

Committee Referrals

Ways and Means2/5/2013

Full Bill Text

No bill text available