On September 13, 2019, the State of New York enacted Chapter 297 of the Laws of 2019, which amends New York Tax Law § 1409(a) and adds a new subdivision (h) to § 11-205 of the NYC Administrative Code.
- Governor signed the Bill on Sept. 13, 2019.
- Legislation goes into effect immediately (tax law Sec. 1409) and NYC Admin. Code Sec. 11-2105 applies to all Deeds recorded on and after Monday Sept. 23, 2019.
- Applies to all 1 – 4 family conveyances when Grantor or Grantee is an LLC.
- No New/Revised TP-584 or NYC RPT available yet.
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