N.Y. Tax Law § 1450-b: Imposition of tax

* § 1450-b. Imposition of tax. Notwithstanding any other provisions of

law to the contrary, the town of Copake, 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 not

to exceed a maximum of two percent of the consideration for such

conveyance, subject to the exemptions set forth in section fourteen

hundred fifty-e of this article; any such local law shall fix the rate

of such tax. 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-l 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* NB Repealed December 31, 2045