N.Y. Tax Law § 1449-bbbb: Imposition of tax

* § 1449-bbbb. Imposition of tax. Notwithstanding any other provisions

of law to the contrary, the town of Warwick, acting through its town

board, is hereby authorized and empowered to adopt a local law imposing

in such town a tax on each conveyance of real property or interest

therein where the consideration exceeds five hundred dollars, at the

rate of three-quarters of one percent of the consideration for such

conveyance. Provided, however, any such local law imposing, repealing or

reimposing such tax shall be subject to a mandatory referendum pursuant

to section twenty-three of the municipal home rule law. Notwithstanding

the foregoing, prior to adoption of such local law, the town must

establish a community preservation fund pursuant to section sixty-four-g

of the town law. Revenues from such tax shall be deposited in such fund

and may be used solely for the purposes of such fund. Such local law

shall apply to any conveyance occurring on or after the first day of a

month to be designated by such town board, which is not less than sixty

days after the enactment of such local law, but shall not apply to

conveyances made on or after such date pursuant to binding written

contracts entered into prior to such date, provided that the date of

execution of such contract is confirmed by independent evidence such as

the recording of the contract, payment of a deposit or other facts and

circumstances as determined by the treasurer.

* NB Repealed December 31, 2050