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A07564 Summary:

BILL NOA07564A
 
SAME ASSAME AS S07220-A
 
SPONSORThiele
 
COSPNSR
 
MLTSPNSR
 
Amd 1393, RPAP L
 
Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.
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A07564 Actions:

BILL NOA07564A
 
05/25/2023referred to judiciary
05/31/2023amend and recommit to judiciary
05/31/2023print number 7564a
01/03/2024referred to judiciary
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A07564 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7564A
 
SPONSOR: Thiele
  TITLE OF BILL: An act to amend the real property actions and proceedings law, in relation to registration of mortgages in default   PURPOSE:: To provide municipalities with a fee structure for the maintenance of foreclosure registration databases.   SUMMARY OF SPECIFIC PROVISIONS:: Section 1 amends the law to allow for the imposition of a fee of up to five hundred dollars on an annual basis. Section two provides for an immediate effective date.   JUSTIFICATION:: Chapter 600 of 2022 was originally enacted to ensure that any fees charged by municipalities to enrolling in the mortgage foreclosure data- base are not passed along to the foreclosed upon homeowner. This prac- tice ensures that the new owner of the foreclosed property is properly charged with the database fees. These databases are critical tools for municipalities to combat blight and ensure upkeep of the properties while they move through the court system. As set the fees are inadequate to reflect the costs of maintaining these databases and are also incon- sistent with local laws establishing these databases throughout the State. Municipalities had previously budgeted for these fees and have working databases in place. This legislation will ensure municipalities do not have to repeal or amend their existing programs. This will bring fees in line with what is done in New Jersey   LEGISLATIVE HISTORY:: This is a new bill.   FISCAL IMPLICATIONS:: None to the State.   EFFECTIVE DATE:: Immediately.
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A07564 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7564--A
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 25, 2023
                                       ___________
 
        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on  Judiciary -- committee discharged, bill amended, ordered reprinted
          as amended and recommitted to said committee
 
        AN ACT to amend the  real  property  actions  and  proceedings  law,  in
          relation to registration of mortgages in default

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 3 of section 1393 of the real property  actions
     2  and  proceedings  law,  as  added by chapter 600 of the laws of 2022, is
     3  amended to read as follows:
     4    3. Any local law, ordinance or resolution that allows for  the  regis-
     5  tration  of  residential  mortgages in default may impose a registration
     6  fee not exceeding [seventy-five] five hundred dollars annually. A  mort-
     7  gagee  and/or  its agents are prohibited from passing along such fees to
     8  the mortgagor in default.
     9    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11487-04-3
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