Bill
S 6664
Bill S 6664 allows Copake to create community preservation funds funded by a real estate transfer tax, enhancing local resources like parks and historical sites.
Bill Number: S 6664
Title: Authorizes the town of Copake to establish community preservation funds and to impose a real estate transfer tax with revenues to be deposited into the fund
Status: Substituted by A6918A
Introduced: March 19, 2025
Classification: Bill
Bill S 6664 aims to empower the town of Copake to create community preservation funds. These funds are intended to support local initiatives that enhance community resources, such as parks, historical sites, and other public amenities. The bill also proposes the implementation of a real estate transfer tax, which would generate revenue specifically for these preservation efforts.
Establishment of Community Preservation Funds: The bill allows the town of Copake to set up dedicated funds that can be used for various community preservation projects.
Real Estate Transfer Tax: The bill authorizes the town to impose a tax on real estate transactions. The revenue generated from this tax would be directed into the community preservation funds.
Use of Funds: While the specific uses of the funds are not detailed in the bill, they are generally intended for projects that benefit the community, such as land conservation, historic preservation, and recreational improvements.
Residents of Copake: The primary beneficiaries of this bill would be the residents of Copake, who would gain access to improved community resources and amenities funded by the preservation efforts.
Real Estate Transactions: Individuals and entities involved in real estate transactions within Copake would be subject to the new transfer tax, impacting their financial obligations when buying or selling property.
March 19, 2025: The bill was introduced and referred to the Local Government Committee.
May 27, 2025: The bill was amended and recommitted to the Local Government Committee, followed by a print of the updated version (6664A).
June 12, 2025: The committee was discharged and the bill was committed to the Rules Committee. It was ordered to third reading and subsequently substituted by A6918A.
Bill S 6664 represents a significant step for the town of Copake in enhancing its community resources through the establishment of preservation funds funded by a real estate transfer tax. The bill's progress through the legislative process indicates ongoing discussions and potential adjustments to ensure its effectiveness and alignment with community needs.
Compiled from official sources — confirm details with the bill’s official record.
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