NY A09490

Amends General Municipal Law Section 874 to require agencies located within transportation districts (as referenced in Tax Law Section 253(a)) to pay additional taxes on mortgages of real property situated within the state.

Amends Public Authorities Law Section 1963 to impose the same additional mortgage tax requirement on authorities located within transportation districts.

Eliminates tax exemptions on mortgage recording taxes for agencies and authorities operating in transportation districts, while maintaining other tax exemptions for property and activities.

Applies to agencies and authorities that would otherwise be exempt from taxes and assessments under state law.