Senate BillIntroduced
S 5620: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer.
What S 5620 does, verified January 8, 2026
The bill aims to exempt mortgages executed by a veteran who is a first-time homebuyer from the mortgage recording tax. This exemption applies to veterans as defined in the Veterans' Services Law. The bill would remove the mortgage recording tax on these mortgages, making it easier for veterans to purchase their first home. The exemption would take effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS (2026-01-07)Alert me
Quick answers about S 5620
- What is the current status of S 5620?
- As of January 8, 2026, S 5620 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS".
- Did S 5620 pass?
- Not yet. S 5620 has been introduced and has not passed either house.
- Who wrote S 5620, and where is it now?
- S 5620 was authored by Sen. Jacob Ashby. Its committee of record is Senate Investigation & Government Operations.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
| Feb. 26, 2025 | REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
Latest bill textIntroduced version, February 26, 2025 · 184 words
STATE OF NEW YORK ________________________________________________________________________ 5620 2025-2026 Regular Sessions IN SENATE February 26, 2025 ___________ Introduced by Sen. ASHBY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to exempting from the mortgage recording tax mortgages executed by a veteran first time homebuyer The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 253 of the tax law is amended by adding a new 2 subdivision 4 to read as follows: 3 4. Notwithstanding any other provision of law to the contrary, the 4 mortgage recording tax shall not be imposed upon any mortgage executed 5 by a veteran, as defined in section one of the veterans' services law, 6 who is a first time homebuyer. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05422-01-5
Text of S 5620 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions