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S 7912

Extends provisions of law authorizing the county of Cortland to impose an additional mortgage recording tax

2025 Regular Session Introduced by Lea Webb

Bill S 7912 extends Cortland County's authority to impose an additional mortgage recording tax, boosting local revenue for essential services and infrastructure projects.

SUBSTITUTED BY A8210
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WeVote Research Nonpartisan
Bill Summary · S 7912

Summary of Bill S 7912

Bill Overview

  • Bill Number: S 7912
  • Title: Extends provisions of law authorizing the county of Cortland to impose an additional mortgage recording tax
  • Status: Substituted by A8210
  • Introduced: May 13, 2025
  • Classification: Legislative Bill

Purpose and Intent

The primary purpose of Bill S 7912 is to extend the authority of Cortland County to impose an additional mortgage recording tax. This extension aims to provide the county with additional revenue that can be utilized for various local government services and infrastructure projects.

Key Provisions

  • Extension of Authority: The bill seeks to prolong the existing provisions that allow Cortland County to levy an additional mortgage recording tax beyond its current expiration date.
  • Tax Rate: While the specific tax rate is not detailed in the bill, the additional revenue generated from this tax is intended to support county operations and services.

Affected Parties

  • Cortland County Residents: Homebuyers and property owners in Cortland County will be directly impacted by the imposition of this additional tax, as it will increase the cost of recording mortgages.
  • Local Government: The county government will benefit from increased revenue, which can be allocated to essential services, infrastructure improvements, and community programs.

Legislative Actions and Timeline

  • May 13, 2025: Bill S 7912 was introduced and referred to the Committee on Investigations and Government Operations.
  • June 4, 2025: The bill was discharged from committee and committed to the Rules Committee, indicating it was ready for further consideration.
  • June 4, 2025: Ordered to third reading, placing it on the calendar for a vote.
  • June 9, 2025: The bill was substituted by A8210, which serves as its companion bill.

Related Bills

  • A 8210: This is the companion bill to S 7912 and may contain similar or related provisions regarding the mortgage recording tax in Cortland County.

Conclusion

Bill S 7912 represents an effort to secure additional funding for Cortland County through an extended mortgage recording tax. As it has been substituted by A8210, stakeholders should monitor the progress of the companion bill for any changes or updates regarding the tax's implementation and its implications for the community.

Compiled from official sources — confirm details with the bill’s official record.

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