First American Title Insurance Company of New York

This is a special edition of the bulletin issued to clients of First American on cases, legislation and other matters of interest. Issues of "Current Developments" are available on the Internet at www. titlelaw -newyork.com. Fax recipients are requested to forward their email addresses to Michael J. Berey, Senior Underwriting Counsel for First American, at mberey@firstam.com for the issuance of future bulletins.

The Technical Services Bureau, Taxpayer Services Division, of theNew York State Department of Taxation and Finance has issued its anticipated Bulletin on the application of Tax Law Section 253-b to commercial credit line mortgages. TSB-M-99(1)R, scanned for ease of email distribution, is provided below for your information.

August 30, 1999