Authorizes the village of Bloomingburg to enter into a contract to sell or pledge as collateral for a loan some or all of the delinquent liens held by such city to a private party or engage a private party.
Impact
The impact of S08381 on state laws centers around the powers granted to local governments regarding their financial operations. By permitting Bloomingburg to sell or pledge tax liens, the bill could set a precedent allowing other municipalities in New York to undertake similar financial strategies. This has the potential to alter how local governments manage delinquent taxes, presenting a more proactive approach in collecting owed funds while also impacting the relationships between local governments and their residents who owe taxes.
Summary
Bill S08381, introduced by Senator Oberacker, seeks to authorize the village of Bloomingburg to engage in the sale or pledge of delinquent tax liens to private parties. Specifically, the bill allows the village to enter into contracts whereby they can either sell tax liens at a price that may differ from the face value or use them as collateral for securing loans. This proposal is designed to provide the village with more flexibility in managing its tax lien assets and potentially alleviate some financial burdens by leveraging these delinquent accounts.
Contention
Notably, the bill may stir some contention regarding the implications for homeowners with delinquent taxes. While it offers a tool for local governments to address financial challenges, critics may argue that selling tax liens could lead to harsher collection practices by private parties. Concerns regarding transparency, homeowner protections, and the impact on vulnerable populations may emerge, particularly if the resale of tax liens results in foreclosure actions that disproportionately affect low-income residents.
Same As
Authorizes the village of Bloomingburg to enter into a contract to sell or pledge as collateral for a loan some or all of the delinquent liens held by such city to a private party or engage a private party.
Extends the effectiveness of certain provisions relating to the authority of the village of Plandome Manor to enter into contracts to sell delinquent tax liens or to pledge such liens as collateral for a loan.
Extends the effectiveness of certain provisions relating to the authority of the village of Plandome Manor to enter into contracts to sell delinquent tax liens or to pledge such liens as collateral for a loan.
Relates to the sale of privately held wines and liquors; allows 48 auctions of wine and/or liquor during the period a wine and liquor auction permit is in effect.
Allows for justices to reside in any town, village or city contained in whole or in part within the same assembly district as the court such justice serves.
Enacts the "private well testing act"; authorizes the department of health to promulgate rules and regulations to establish standards for the testing of drinking water from privately owned wells.
Enacts the "private well testing act"; authorizes the department of health to promulgate rules and regulations to establish standards for the testing of drinking water from privately owned wells.
Relates to requiring the New York city housing authority to contract with non-profit private entities when qualifying for certain programs; requires the New York city housing authority to contract with a non-profit private entity when converting property to Section 8 units in order to qualify for any program that allows such private entity to renovate, repair, maintain and/or operate such New York city housing authority property.
Authorizes the village of Bloomingburg to enter into a contract to sell or pledge as collateral for a loan some or all of the delinquent liens held by such city to a private party or engage a private party.