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NY S09104
Bill
Status
6/17/2018
Primary Sponsor
Rules
Click for details
AI Summary
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Extends occupancy tax authorizations in New Rochelle, Rye, and Yonkers until September 1, 2021, and extends mortgage recording tax authorizations in Essex, Albany, Warren, Greene, and Cattaraugus counties through 2020-2021.
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Limits increases in current base proportions for property tax assessment rolls to one percent for most jurisdictions and one-half of one percent for cities in fiscal year 2019.
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Allows special assessing units other than cities to adjust base proportions for the 2018 assessment roll, and permits Nassau County approved assessing units to do the same upon local law passage.
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Extends the deadline for the City of New York to issue bonds and notes with variable interest rates from June 30, 2018 to June 30, 2019, and extends similar bonding authority deadlines for Buffalo and Yonkers.
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Extends the effectiveness of the New York State Financial Emergency Act pledge provisions for the City of New York from July 1, 2018 to July 1, 2019, affecting state authority guarantees on city bonds and notes.
Legislative Description
Extends the city of New Rochelle occupancy tax for three years; extends the city of Rye occupancy tax for three years; extends the city of Yonkers occupancy tax for three years; extends the expiration of the authority of the county of Essex to impose an additional mortgage recording tax; extends the expiration of the authority of the county of Albany to impose a county mortgage recording tax; extends Warren county's additional mortgage recording tax authorization; extends the authorization for the county of Greene to impose an additional mortgage recording tax; extends provisions of law relating to authorizing the county of Cattaraugus to impose an additional mortgage recording tax; extends the ability of the county of Albany to impose and collect taxes on occupancy of hotel or motel rooms in Albany county; relates to adjusted base proportions for assessment rolls; relates to the determination of adjusted base proportions in special assessing units which are cities for the fiscal year two thousand nineteen; allows certain special assessing units other than cities to adjust their current base proportions, adjusted base proportions for assessment rolls, and the base proportion in approved assessing units in Nassau county; relates to the sale of bonds and notes of the city of Buffalo; relates to bonds and notes of the city of Yonkers.
Last Action
LOST
6/20/2018