NY Tax L § 1423 (2021)
2021 New York Laws TAX - Tax Article 31 - Real Estate Transfer Tax 1423 - Modernization of Real Property Transfer Reporting.

§  1423.  Modernization  of  real  property  transfer  reporting.  (a) Notwithstanding any provision of law to the contrary,  the  commissioner is hereby authorized to implement a system for the electronic collection of data relating to transfers of real property. In connection therewith, the  commissioner may combine the two forms referred to in paragraph one of this subdivision into a consolidated real property transfer  form  to be filed with him or her electronically; provided:  (1) The two forms that may be so combined are the real estate transfer tax  return  required  by section fourteen hundred nine of this article, and the real property transfer report required by subdivision  one-e  of section  three  hundred  thirty-three of the real property law. However, the commissioner shall continue to maintain both such  return  and  such report  as  separate  forms,  so  that a party who prefers not to file a consolidated  real  property  transfer  form   with   the   commissioner electronically shall have the option of filing both such return and such report  with  the recording officer, as otherwise provided by law. Under no circumstances shall a consolidated real  property  transfer  form  be filed with, or accepted by, the recording officer.  (2)   Notwithstanding  the  provisions  of  section  fourteen  hundred eighteen of this article, any information appearing  on  a  consolidated real  property transfer form that is required to be included on the real property transfer report required by subdivision one-e of section  three hundred thirty-three of the real property law shall be subject to public disclosure.  (3)  When a consolidated real property transfer form is electronically submitted to the department by either the grantor or grantee or  a  duly authorized  agent  thereof,  the  act  of  submitting such form shall be deemed to be the signing of the return as required by paragraph  (v)  of subdivision one-e of the real property law or subdivision (b) of section fourteen  hundred nine of this article, and the requirement that all the grantors and grantees shall sign the return shall  not  apply.  However, the  fact that a grantor or grantee has not electronically submitted the form shall not relieve that grantor or grantee of any liability for  the tax imposed by this article.  (b)  When a consolidated real property transfer form is filed with the commissioner electronically pursuant to this section,  the  real  estate transfer  tax  imposed  under  this  article,  and  the  fee  that would otherwise be retained by the recording officer pursuant  to  subdivision three  of  section  three hundred thirty-three of the real property law, shall be paid to the  commissioner  therewith.  The  commissioner  shall retain  on  behalf of the recording officer the portion of such tax that would otherwise have been retained by the recording officer pursuant  to subdivision  (c)  of section fourteen hundred seven of this article, and the portion of such fee that would otherwise have been retained  by  the recording officer pursuant to subdivision three of section three hundred thirty-three  of  the  real  property law. The moneys so retained by the commissioner on behalf of the recording officer, hereinafter referred to as the recording officer's fees, shall  be  deposited  daily  with  such responsible  banks,  banking  houses,  or  trust  companies  as  may  be designated by the state comptroller. Of the recording officer's fees  so deposited,  the comptroller shall retain in the comptroller's hands such amount as the commissioner may determine to be necessary for refunds  or reimbursements  of  such  fees  collected  or  received pursuant to this section,  out  of  which  the  comptroller  shall  pay  any  refunds  or reimbursements of such fees to which persons shall be entitled under the provisions of this section. The comptroller, after reserving such refund and  reimbursement  fund  shall,  on  or  before the twelfth day of each month, pay to the appropriate recording officers an amount equal to  the  recording  officer's  fees  reserved on their behalf. Provided, however, that the commissioner is authorized  to  request  that  the  comptroller refrain  from  making such a payment of such fees to a recording officer until  the  commissioner  has  certified  to  the  comptroller  that the recording officer has supplied the commissioner with the liber and  page numbers of the recorded instruments that gave rise to such fees.  (c)  The  system  for  the  electronic submission of consolidated real property transfer forms shall be designed so that  upon  the  successful electronic filing of such a form and the payment of the associated taxes and  fees,  the  party  submitting  the  same  shall be provided with an electronic receipt  in  a  form  prescribed  by  the  commissioner  that confirms  such filing and payment. Such party may file a printed copy of such receipt with the recording officer  when  offering  the  associated instrument for recording, in lieu of submitting to the recording officer the  return, report, tax and fee that would otherwise have been required under this article and subdivisions one-e and  three  of  section  three hundred  thirty-three  of  the  real property law. The recording officer shall retain such receipt for a minimum of three years, unless otherwise directed by the commissioner, and shall provide a copy  thereof  to  the commissioner for inspection upon his or her request.  (d)  Upon  recording  the  instrument  to  which the consolidated real property transfer form pertains, the recording officer shall provide the commissioner with the liber and page thereof at such time  and  in  such manner as the commissioner shall prescribe.  (e)  The  provisions  of this section shall not be applicable within a city or county that has implemented its own electronic  system  for  the recording  of  deeds, the filing of the real estate transfer tax returns and the real property transfer reports prescribed by  the  commissioner, and  the  payment  of the associated taxes and fees, unless such city or county shall notify the commissioner that such jurisdiction will  follow the  system  authorized  pursuant to this section to be used therein, in writing.