N.Y.C. Admin. Code § L.L. 1986/023: L.L. 1986/023

Enactment date: 7/8/1986

Int. No. 67

By Council Member DeMarco (by request of the Mayor); also Council Members Ferrer and Leffler

A Local Law to amend the administrative code of the city of New York, in relation to extending the coverage and application of the real property transfer tax imposed by title II of chapter forty-six of such code to include transfers of economic interests in real property

Be it enacted by the Council as follows:

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[Consolidated provisions are not included in this Appendix A]

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§ 9. If any item, clause, sentence, subparagraph, paragraph, subdivision, section or other part of this local law, or the application thereof to any person or circumstances shall be held to be invalid, such holding shall not affect, impair or invalidate the remainder of this local law, or the sections of the administrative code of the city of New York amended by this local law, or the application of such section or part of a section held invalid to any other person or circumstances, but shall be confined in its operation to the item, clause, sentence, subparagraph, paragraph, subdivision, section or other part of this local law directly involved in such holding, or to the person and circumstances therein involved.

§ 10. This local law shall take effect immediately, and the amendments made hereby shall apply to conveyances or transfers made on or after the fifth day succeeding such effective date, provided, however, that such amendments shall not apply to any such conveyance or transfer made pursuant to a written contract entered into prior to July thirty-first, nineteen hundred eighty-one.