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State and Local Government Mortgages Legislative Agendas

Cozen O'Connor

Broad Street Brief: City Council Examines HOME Initiative

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Mayor Cherelle Parker unveiled details about the programs to be funded by her signature Housing Opportunities Made Easy (HOME) Initiative on Monday. More than 75% of the $800 million bond amount will be allocated to seven key...more

Katten Muchin Rosenman LLP

New York State Lawmakers Consider New Taxes on Mezzanine and Preferred Equity Financing, Owners of Second "Pied-à-Terre" Homes in...

Key Points - - New York State lawmakers, who are looking to make up the gap in the state's annual budget, are considering proposals for nearly $7 billion in tax hikes in a package that includes taxes on mezzanine and...more

Cadwalader, Wickersham & Taft LLP

The Changes Continue | February 2021 | Issue No. 21: New York Assembly-Sponsored Legislation Proposes New Tax on Mezzanine Debt...

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of...more

Pillsbury Winthrop Shaw Pittman LLP

New York State Assembly Reintroduces Legislation Imposing Recording Tax on Mezzanine Debt and Certain Preferred Equity Investments

On January 22, 2021, several New York State Assembly Members reintroduced legislation (Bill No. A03139) that seeks to amend New York’s Real Property Law and Tax Law, New York’s Tax Law and New York’s Uniform Commercial Code...more

Goulston & Storrs PC

New York State is Considering a (New) Tax That Would Apply to Mezzanine Loans and Preferred Equity

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A New York State legislative proposal (currently in committee review) would impose mortgage recording tax on mezzanine debt and preferred equity investments related to real property upon which a senior loan is being...more

Holland & Knight LLP

California's 2021 Housing Laws: What You Need to Know

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As California's housing supply and homelessness crisis continues to worsen, the state Legislature has for the past several years passed numerous pieces of housing legislation in each legislative session. ...more

Clark Hill PLC

Insight on Illinois - August 2020 #1

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As we hit the dog days of August, government at all levels continues to battle COVID-19 while supporting businesses and families. Nationally, negotiations over a relief package have stalled, and President Trump has issued an...more

Ballard Spahr LLP

New York Senate Bill Amends Expanded Forbearance Relief Granted by Previous Bill

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As noted in our alert on June 9, 2020, New York Senate Bill S8243C was delivered to the Governor on June 5, 2020. The same day, New York Senate Bill S8428 was also delivered to Governor Andrew Cuomo....more

Ballard Spahr LLP

New York Senate Bill Grants Expanded Forbearance Relief for Some New York Homeowners

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On June 5, 2020, New York Senate Bill S8243C was delivered to Governor Andrew Cuomo and, if signed, will be effective immediately. The bill provides for expanded COVID-19 forbearance relief options dating back to March 7,...more

Ballard Spahr LLP

Local Land Use On Location

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Montgomery County, Maryland - Montgomery County has launched Thrive Montgomery 2050, an initiative to update the County’s General Plan for the first time since the 1960s. The County Planning Board seeks public input to...more

Hogan Lovells

New York legislature moves to impose new requirements on reverse mortgage industry

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Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Ballard Spahr LLP

Substitute House Bill No. 5490 Proposes Changes to Connecticut Banking Law

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Substitute House Bill No. 5490, an Act Concerning Consumer Credit Licenses, proposes to make changes to the Banking Law in Connecticut that would expand the banking commissioner's existing authority in the mortgage arena to...more

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