New York Laws
Article 11 - Tax on Mortgages
253-C - Recording Tax Imposed by the County of Nassau.

(b) Except as otherwise provided in this section, moneys in the Nassau
county bond deficit fund may be appropriated from and transferred to or
expended in any fiscal year only for the purpose of payment of the
principal of and interest on bonds and notes authorized by a chapter of
the laws of nineteen hundred ninety-two, entitled "AN ACT authorizing
the county of Nassau to issue serial bonds and/or bond anticipation
notes for the purpose of liquidating deficits in the county's general
fund and to amend the tax law, in relation to authorizing the county of
Nassau to impose a county recording tax on obligations secured by a
mortgage on real property; to amend the county government law of Nassau
county (Nassau County Charter) and the Nassau county administrative
code, in relation to the imposition of an exigency tax". When the amount
of moneys in such fund is sufficient to pay all future debt service on
such notes and bonds, the comptroller of the county of Nassau shall so
notify the commissioner of taxation and finance by certified mail. When
no such bonds or notes remain outstanding, such fund shall terminate and
moneys remaining therein shall be deposited in the general fund of such
county for expenditure on county purposes.
6. Any local law imposing a tax pursuant to the authority of this
section or repealing or suspending such a tax shall take effect only on
the first day of a calendar month or in September of nineteen hundred
ninety-two on the sixth, thirteenth, twentieth or twenty-seventh day of
such month. Such a local law shall not be effective unless a certified
copy thereof is mailed by registered or certified mail to the
commissioner of taxation and finance at the commissioner's office in
Albany at least thirty days prior to the date the local law shall take
effect.
7. Certified copies of any local law described in this section shall
also be filed with the county clerk, the secretary of state and the
state comptroller within five days after the date it is duly enacted.

Structure New York Laws