NY S07442

Removes tax exemptions for agencies and authorities in five transportation districts (metropolitan commuter, Niagara Frontier, Rochester-Genesee, capital district, and central New York regional) from the additional mortgage recording tax imposed under Tax Law section 253(a).

Applies to mortgages executed, given, made, or transferred by or to agencies under General Municipal Law Article 18-A and Public Authorities Law titles 11 and 15, their agents, project operators, project occupants, and owners receiving financial assistance from such entities.

Defines "financial assistance" using the same meaning as section 854 of General Municipal Law.

Amends General Municipal Law sections 874 and 1963, and Public Authorities Law section 2326 to clarify that tax-exempt agencies and authorities in designated transportation districts remain subject to the additional mortgage recording tax.

Takes effect immediately upon enactment.