Bill
S 3254
Bill S 3254 allows Southold's town board to accept a refund application from GKLF, LLC for overpaid real estate transfer tax, potentially benefiting the company financially.
Bill Number: S 3254
Title: Authorizes the town board of the town of Southold, county of Suffolk, to accept from GKLF, LLC, grantee, an application for a refund from the town real estate transfer tax
Status: Referred to Local Government
Introduced: January 24, 2025
Classification: Bill
Bill S 3254 aims to authorize the town board of Southold, located in Suffolk County, to accept a refund application from GKLF, LLC. This application pertains to the town's real estate transfer tax, which is a fee imposed on the transfer of property ownership within the town.
Acceptance of Refund Application: The primary provision of the bill allows the town board to accept a refund application specifically from GKLF, LLC. This indicates that the company may have overpaid or is otherwise eligible for a refund of the real estate transfer tax.
Real Estate Transfer Tax Context: The real estate transfer tax is typically levied on the sale of real property and is a source of revenue for local governments. The bill suggests that there may be circumstances under which a refund is warranted, although specific details regarding the grounds for the refund are not provided in the bill text.
GKLF, LLC: As the grantee and applicant for the refund, GKLF, LLC is directly impacted by this legislation. The acceptance of their application could result in a financial benefit if the refund is granted.
Town of Southold: The town board will be responsible for processing the application and determining the validity of the refund request. This may involve administrative resources and could set a precedent for future refund applications.
Legislative Status: As of January 24, 2025, the bill has been referred to the Local Government committee for further consideration. This is a standard procedural step in the legislative process, where the bill will be reviewed and possibly amended before being brought to a vote.
Related Bills: Bill S 3254 is related to prior-session Bill S 6589, which may provide context or background regarding similar legislative efforts or issues related to real estate transfer taxes in the town.
Bill S 3254 represents a specific legislative action that could facilitate a financial refund for GKLF, LLC concerning the town's real estate transfer tax. The bill's progression through the Local Government committee will determine its future and potential impact on both the applicant and the town's tax revenue processes.
Compiled from official sources — confirm details with the bill’s official record.
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