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Bill

S 8275

Extends the effectiveness of certain provisions authorizing the county of Madison to impose an additional mortgage recording tax

2025 Regular Session Introduced by Joe Griffo

Bill S 8275 allows Madison County to continue imposing an additional mortgage recording tax, providing vital funding for local projects and affecting mortgage costs for residents.

SIGNED CHAP.319
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Bill Summary · S 8275

Summary of Bill S 8275

Bill Overview

Bill Number: S 8275
Title: Extends the effectiveness of certain provisions authorizing the county of Madison to impose an additional mortgage recording tax
Status: Signed into law as Chapter 319
Introduced: May 29, 2025

Purpose and Intent

The primary purpose of Bill S 8275 is to extend the authority of Madison County to impose an additional mortgage recording tax. This extension aims to provide the county with continued financial resources to support local initiatives and infrastructure projects.

Key Provisions

  • Extension of Tax Authority: The bill extends the provisions that allow Madison County to levy an additional mortgage recording tax. This tax is typically applied to the recording of mortgages and can generate significant revenue for the county.
  • Duration of Extension: While the specific duration of the extension is not detailed in the provided information, the bill ensures that the county retains the ability to impose this tax beyond its previous expiration date.

Affected Parties

  • Madison County Residents: The residents of Madison County will be directly affected by this legislation, as the additional mortgage recording tax may impact the cost of obtaining mortgages.
  • Local Government: The county government will benefit from the additional revenue generated by this tax, which can be allocated to various public services and infrastructure projects.

Legislative Process and Timeline

  • Introduced: The bill was introduced on May 29, 2025, and referred to the Committee on Investigations and Government Operations.
  • Assembly and Senate Actions:
    • The bill passed the Senate on June 11, 2025, and was subsequently delivered to the Assembly.
    • It passed the Assembly on June 13, 2025, after being substituted for companion bill A 8685.
  • Governor's Approval: The bill was delivered to the Governor on August 4, 2025, and was signed into law on August 7, 2025, becoming Chapter 319.

Conclusion

Bill S 8275 serves to extend the authority of Madison County to impose an additional mortgage recording tax, ensuring continued financial support for local initiatives. The legislative process was completed efficiently, culminating in the bill's signing into law in August 2025. This extension is expected to have a direct impact on both residents and local government operations within Madison County.

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

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