dliu1/legal-llama-raw-text huggingface dataset:
accompanied  by  a  certificate  of  the  local  rent  guidelines  board
certifying  the  applicant's  eligibility pursuant to subdivision one of
this section.   Requests to  these  local  rent  guidelines  boards  for
certification shall be accompanied by a ten-year projection of the rents
based   on  current  levels  of  operating  costs  and  showing  to  the
satisfaction of such board a  relative  stability  of  rents  over  such
period  reflecting to the extent that this is practicable, and averaging
of  the  tax  benefits  of this section in the interests of the tenants.
The state division of housing and community renewal may promulgate rules
and regulations to  carry  out  the  provisions  of  this  section,  not
inconsistent with the provisions hereof.
Exemption  of multiple dwellings financed by the New York
state  housing  finance  agency  from  local  taxation.  1.  The   local
legislative  body  of  any  city, town or village having a population of
less than one million is hereby authorized and empowered  to  adopt  and
amend  a  local  law  to  provide  that any new or rehabilitated housing
development, as defined in section  forty-two  of  the  private  housing
finance  law,  subject  to  a  mortgage,  the loan for which was made or
financed by notes, bonds or other obligations  of  the  New  York  state
housing  finance  agency,  the interest on which is exempt from taxation
pursuant to the Internal Revenue Code of 1954,  as  amended,  after  the
adoption  of such local law shall be exempt from taxation as provided by
such local law.
2. (a) Such local law may provide that such eligible property shall be
exempt from all taxes imposed  by  a  municipal  corporation,  including
those  imposed  by or on behalf of a school district, other than special
assessments and  special  ad  valorem  levies,  during  construction  or
rehabilitation, but for no longer than three years.
(b)  Such  local law may also provide that the eligible property shall
be exempt upon the conclusion of  the  exemption  period  authorized  by
paragraph  (a)  of  this  subdivision,  for  as  long as construction or
rehabilitation continues and, thereafter, for so long as  such  mortgage
is  outstanding  and  the  housing  development,  as  defined in section
forty-two of the private housing finance law, is  used  for  residential
unit   purposes;   provided,  that  the  exemption  authorized  by  this
subdivision shall be for a period not to exceed  fifteen  years  in  the
aggregate  after the conclusion of the exemption authorized by paragraph
(a) of this subdivision, and shall not exceed the following limitations:
three years of full exemption, followed by three years of exemption from
eighty percent of the assessed value of such property, followed by three
years of exemption from sixty percent of  the  assessed  value  of  such
property, followed by three years of exemption from forty percent of the
assessed  value  of  such property, followed by three years of exemption
from twenty percent of the assessed value of such property; and provided
that taxes shall be paid during any such period after the taxable status
date  immediately  following   the   completion   of   construction   or
rehabilitation at least in the amount of the taxes paid on such land and
improvements  thereon  during the fiscal year preceding the commencement
of such construction or rehabilitation and that the exemption from taxes
shall not be availed of concurrently under any other law.
Legislative declaration.   It is hereby found and declared
that continued operation of railroads in the state  and  improvement  of
their service and facilities are essential to the commerce, defense, and
general welfare of the people of the state; that the financial condition
of railroads in the state has deteriorated in recent years to the extent
that  it  now  constitutes  a  serious  threat  to continuation of vital
operations; that this condition is the result, among  other  things,  of
competition from other forms of transportation, increased costs, and the
incidence  of taxation; that the consequences of these developments have
been a loss of commerce, a decrease in employment,  and  a  decrease  in
service  rendered  by  railroads; that the reversal of these trends is a
matter of public concern; that it is in the public interest  to  enhance
the  ability of railroads to continue their operations and improve their
service under private enterprise; that the real property tax  burden  on
railroads  in  the  state does not fluctuate in accordance with earnings
and generally cannot be readily  passed  on  to  users  of  the  service
because of the industry's economic position; that substantial tax relief
will  help  strengthen railroads financially so that they can contribute
their share to the economic well-being of the state; and that  therefore
it  is  the  policy  of the state to grant to the railroads in the state
partial tax exemption in a manner which will grant greater relief to the
railroads that need it more by giving increasingly greater exemptions as
the rate of earnings of a railroad system declines.
Definitions.    When used in this title, unless otherwise
expressly stated:
1.  Assessing unit means a city, town or village.
2.   Railroad company means  a  corporation,  joint  stock  company,
association,   partnership,  individual  or  other  person  operating  a
railroad system wholly within the state of New York as a common  carrier
by  rail, including but not limited to a street, surface, underground or
elevated  railroad,  whether  as  owner,  lessee,  mortgagee,   trustee,
receiver or assignee of railroad real property.
3.    Railroad  real  property  means the land, real estate and real
property (as defined in subdivision twelve of section one hundred two of
this chapter) of a railroad company, which  is  used  by  such  railroad
company  for  transportation  purposes  and  which  is  subject  to real
property taxation except as provided in this  title,  and  includes  (a)
such  property  leased to such railroad company, (b)  such property used
for transportation purposes by such railroad company  under  a  trackage
right  or  other  operating agreement, title to which is in other than a
railroad company, as defined in subdivision  two  of  this  section  and
subdivision  two of section four hundred eighty-nine-bb of this chapter,
(c) such property used or occupied by such railroad  company,  title  to
which  is in the state or in any municipal corporation thereof under any
of the grade crossing elimination acts, and (d) such  tangible  property
of  such  railroad company situated in, upon, under or above any street,
highway, public place or public waters; but does not include  the  value
of any franchise, right or permission to construct, maintain or operate,
in, under, above, on or through, streets, highways or public places.
4.    Subsidized  railraod  real  property  means  any railroad real
property for which a rail service continuation subsidy is  paid  by  the
United States or the state of New York.
5.    Tax  or  taxation  means  an ad valorem charge or special ad
valorem levy imposed upon real property by or on  behalf  of  a  county,
city, town, village, school district or special district.
Assessment of real property of railroads. 1. The assessor in
each city,  town  and  village  and  in  each  county  having  a  county
department  of  assessment  shall  annually  assess all real property of
railroad companies situated in such city, town, village  or  county,  as
the  case  may be, including all railroad real property of such railroad
companies as defined  in  subdivision  three  of  section  four  hundred
eighty-nine-b  of  this chapter. Where a village has enacted a local law
as provided in subdivision three of section fourteen hundred two of this
chapter, the town or county assessor shall apportion that  part  of  the
railroad  property  assessment applicable to the village for purposes of
the copy of the part of the town or  county  assessment  roll  used  for
village tax purposes.
2.  Railroad  real  property  shall  be  separately assessed from real
property of railroad companies not used for transportation purposes  and
subsidized  railroad  real  property  shall  be separately assessed from
other railroad real property. The commissioner  and  railroad  companies
upon request shall furnish the assessor information and data relating to
the  classification  of the real property of railroads as transportation
and non-transportation property and to the identification of  subsidized
railroad real property. Action by assessors under this subdivision shall
not  in any way affect the classification of property or the segregation
of assessments in accordance with section four hundred eighty-nine-p  of
this chapter in connection with the application of railroad ceilings.
3.  Railroad  real  property  shall be assessed according to value and
ownership as of the dates specified by subdivision four of section  four
hundred  eighty-nine-e  of this title for the computation of the ceiling
of such property.
Exemption  of  railroad  real  property  from  taxation. 1.
Subsidized railroad real property shall be  exempt  from  taxation.  The
exemption  shall  be  granted each year only upon (a) application by the
owner of said property on a form prescribed by the commissioner and  (b)
submission of such proof as may be required by the commissioner that the
property is subsidized railroad real property. The application and proof
shall be filed with the appropriate assessing authority on or before the
appropriate  taxable  status  date,  with  copies thereof simultaneously
filed with the commissioner and the department of transportation.
2. Bridges, viaducts, and other similar structures constructed  on  or
after  January  first,  nineteen hundred fifty-nine as the result of the
creation, pursuant to article twelve-B of the  highway  law,  of  a  new
highway,  street,  or roadway carrying railroad facilities over such new
highway, street, or roadway shall be exempt from taxation. No assessment
of any bridges, viaducts, and other  similar  structures  lengthened  or
reconstructed  on or after January first, nineteen hundred fifty-nine as
the result of the widening, relocation, or reconstruction of an existing
highway, street, or roadway, pursuant to article twelve-B of the highway
law, shall be increased by reason of such reconstruction or  relocation,
notwithstanding  the provisions of any general, special, or local law to
the contrary; provided, however, that the  assessment  on  the  original
portion  of  such bridges, viaducts, and other similar structures may be
varied in accordance with the changes made generally in  assessments  on
other  local real property. Whenever any new construction of property is
exempt pursuant to the provisions of this subdivision and the provisions
of subdivision three-a or three-b of this section, such  property  shall
receive the exemption provided by subdivision three-a or three-b of this
3.  Railroad real property shall be exempt from taxation to the extent
of any increase in value thereof by  reason  of  any  of  the  following
additions,   betterments,   improvements,  or  reconstructions  made  or
installed thereon after the last preceding taxable status date prior  to
April twenty-first, nineteen hundred fifty-nine: (a) the installation of
automatic  grade crossing protective devices, such as flashing lights or
automatic gates and their attendant facilities; (b)  the  reconstruction
or  the  replacement  of  signals,  railroad  bridges, stations, freight
houses, classification yards, repair shops, or any other  facility  used
for transportation purposes; provided that the property as reconstructed
or  replaced  is the same general type of facility and is located in the
same city or town as the property reconstructed or replaced; and (c) the
construction  or  reconstruction  pursuant   to   the   grade   crossing
elimination  acts,  the  railroad  law,  or the highway law of any grade
separation structure, such  as  bridges,  viaducts,  tunnels,  retaining
walls,  and  embankments  constructed  for the purpose of eliminating or
avoiding  highway-railroad  crossings  at  grade.    Whenever  any   new
construction  of  property  is exempt pursuant to the provisions of this
subdivision and the provisions of subdivision three-a or three-b of this
section,  such  property  shall  receive  the  exemption   provided   by
subdivision three-a or three-b of this section.
3-a. Whenever a railroad company makes any improvements, enhancements,
or  upgrades  to any existing railroad real property in order to improve
freight service or to provide improved or  new  passenger  service,  the
cost  of  such  project  shall not be included in the calculation of any
subsequent railroad ceilings for a period of ten years from the date  of
completion  of  such project; provided that such project's improvements,
enhancements, or upgrades  were  made  pursuant  to  a  capital  project
proposal   approved   by   the   commissioner   of   the  department  of
transportation, as provided in section  four  hundred  eighty-nine-v  of
this  title.  The  department  of  transportation  shall  certify to the
commissioner  the  location  and  cost   of   any   such   improvements,
enhancements,  or  upgrades  in  a manner that provides the commissioner
with  sufficient time to carry out its responsibilities pursuant to this
3-b. The cost of bridges, viaducts, other structures, or  improvements
and  new  rail  lines,  including  any  new  rail lines built to replace
existing rail lines, shall not be included in  the  calculation  of  any
subsequent  railroad ceilings for a period of ten years from the date of
completion of such project; provided that such construction was pursuant
to a capital project  proposal  approved  by  the  commissioner  of  the
department  of  transportation  as  provided  in  section  four  hundred
eighty-nine-v of this title.  The  department  of  transportation  shall
certify   to  the  commissioner  the  location  and  cost  of  any  such
construction in a manner that provides the commissioner with  sufficient
time to carry out its responsibilities pursuant to this chapter.
4.  Except  as  provided in subdivision five of this section, railroad
real property other than subsidized  railroad  real  property  shall  be
exempt  from  taxation to the extent that the assessed valuation thereof
exceeds the railroad ceiling determined in accordance with the  earnings
ratio as hereinafter prescribed.
5. Railroad real property other than subsidized railroad real property
of a railroad company shall not be exempt from taxation under this title
on  an  assessment  roll of any assessing unit if the company failed for
any reason to pay within thirty days of the date when due the tax levied
upon the taxable portion of the assessment of any railroad real property
of the company set forth on the immediately preceding assessment roll of
any assessing unit, provided, however, that this subdivision  shall  not
apply  if  the  payment  or  enforcement of such taxes was restrained or
prohibited by an order issued by a court of competent jurisdiction under
the bankruptcy act of the United States.
Railroad ceiling. For the purpose of determining the extent
to which railroad real property shall be  exempt  under  this  title,  a
railroad  ceiling  for  the railroad real property other than subsidized
railroad real  property  of  each  railroad  company  situated  in  each
assessing  unit  shall  be  established  annually by the commissioner as
(1) Determine (a) the system reproduction cost in accordance with  the
provisions  of  sections  four  hundred  eighty-nine-f  and four hundred
eighty-nine-g of this chapter,  (b)  the  average  railway  earnings  in
accordance  with  the  provisions of sections four hundred eighty-nine-f
and four hundred eighty-nine-h of this chapter, (c) the  earnings  ratio
in  accordance with the provisions of section four hundred eighty-nine-i
of this chapter,  (d)  the  exemption  factor  in  accordance  with  the
provisions  of  section  four hundred eighty-nine-j of this chapter, and
(e) the local reproduction cost in accordance  with  the  provisions  of
sections  four  hundred  eighty-nine-f and four hundred eighty-nine-k of
this chapter;
(2) Multiply the local reproduction cost by the exemption  factor  and
subtract the result thereof from the local reproduction cost; and
(3) Multiply the result of such calculations by the state equalization
rate  determined  or  established  in  accordance with the provisions of
section four hundred eighty-nine-l of this chapter. The result shall  be
the railroad ceiling.
(4)  Determinations  made pursuant to this section shall be based upon
the value of the railroad real property as of the  rate  valuation  date
and  ownership of such railroad real property as of the thirty-first day
of December of the year preceding the year in which the assessment  roll
to  which  such  ceiling assessment will apply is filed in the office of
the city or town clerk, except that those determinations shall be  based
upon ownership as of the thirty-first day of December of the second year
preceding  the  date  required  by  law  for  the  filing  of  the final
assessment roll for purposes of city assessment  rolls  required  to  be
filed between January first and June first inclusive and for all village
assessment  rolls. As used in this subdivision, the term rate valuation
date means the date as of which the full value of taxable real property
on  an  assessement  roll  is  estimated  for  purposes  of  the   state
equalization  rate  to  be  applied in the establishment of the railroad
ceiling.
Relationships among elements used in computation of railroad
ceiling. In order to effectuate the legislative policy that  the  amount
of exemptions from real property taxation granted to railroads should be
related to their individual rates of earnings, and in order to provide a
uniform   and   equitable  method  for  implementing  this  policy,  the
commissioner shall establish and  maintain  relationships  among  system
reproduction  cost,  railway  earnings,  local reproduction cost and the
state equalization rates, so that:
(1) System reproduction cost, local reproduction cost  and  the  state
equalization  rates shall be based so far as may be practicable upon the
same period price levels;
(2)  System  reproduction  cost  shall  include  so  far  as  may   be
practicable the property constituting the railroad system from which the
railway  earnings  were  derived  for  the  latest  year included in the
average railway earnings; and
(3) The aggregate of the local  reproduction  cost  of  each  railroad
company shall approximate the amount included in the system reproduction
cost  of  such  railroad  company on account of the property included in
such local reproduction costs so far as may be practicable.
System reproduction cost. 1. The system reproduction cost of
each railroad company shall be determined by ascertaining so far as  may
be  practicable for the property of each railroad company used by it for
transportation purposes and owned by or leased to  it  constituting  the
railroad  system:  (a) the cost of reproduction new less depreciation of
road and equipment, (b) the value of land and rights, including value of
rights in land in,  above  and  under  any  public  street,  highway  or
parkway,  and  (c)  working  capital  including  material  and supplies,
provided, however, that if on the effective date of this title the major
portion of the property of a railroad company  and  the  management  and
control of such company are located outside of the territorial limits of
the United States, the system reproduction cost of such railroad company
shall  consist of the property of such company located within the United
2. In making determinations under this  section  as  to  the  property
constituting  the  railroad  system, the commissioner shall classify the
property  of  each  railroad  company  as  between   transportation   or
non-transportation so far as may be practicable.
3.  In  ascertaining  depreciation  of  property  under  this section,
consideration may be given to physical condition, average service  lives
of  groups  of  property  and  other  factors, which, however, shall not
include earnings.
4. As used in this section, the term value of land means  the  value
of  similar  land in the immediate vicinity used for other than railroad
transportation purposes, and the term value of rights in land in, above
and under any public street, highway or parkway means  ten  percent  of
the value of land in the immediate vicinity used for other than railroad
transportation purposes.
5. In making determinations under this section, the commissioner shall
consider the information contained in the publication entitled Elements
of  Value of Property Used in Common Carrier Service then most recently
issued or made available by the bureau of  accounts,  cost  finding  and
valuation  of  the  interstate commerce commission. The commissioner may
consider information available from the commissioner  of  transportation
or other regulatory agency having jurisdiction over the property of such
railroad  company,  as well as information available from other sources,
including  reports   required   pursuant   to   section   four   hundred
eighty-nine-q,  and  such  other  information  on  the subject as may be
available to it.
6. In determining a system reproduction cost for purposes of  railroad
ceilings  determined  for  assessment  rolls  filed  on or after January
first, two thousand three, grading shall be deemed a depreciable  asset.
The  allowance  for grading in place shall be eighteen percent per annum
but shall not exceed ninety percent.
7. In determining a system reproduction cost for purposes of  railroad
first, two thousand three, the commissioner shall not include  a  factor
for  any  construction  overhead  in  its  calculation,  nor  shall such
overhead costs be included for any new construction begun  on  or  after
the effective date of this subdivision.
8.  (a)  In  determining  a  system  reproduction cost for purposes of
railroad ceilings established for assessment rolls filed in two thousand
three, the  commissioner  shall  allow  for  increased  depreciation  of
railroad  track. For high speedhigh tonnage track and medium speedhigh
tonnage track, whether main track or side track, depreciation  shall  be
increased  to  seventy-five percent. For low speedmedium tonnage track,
whether main track or side track, depreciation  shall  be  increased  to
eighty-five percent. For low speedlow tonnage track, whether main track
or side track, depreciation shall be increased to ninety percent.
(b)  Such  increased  depreciation  pursuant  to paragraph (a) of this
subdivision shall be  granted  for  railroad  ceilings  established  for
assessment  rolls  filed  in  two thousand four and thereafter only upon
application of a railroad company. Any increased depreciation  shall  be
granted  to  all  the  tracks  owned  by  the railroad in this state not
otherwise exempt from inclusion in the calculation of railroad ceilings.
Such grant of increased depreciation shall continue for  ten  years  and
may be approved for subsequent periods of ten years upon application and
compliance  with  the  standards established by rule and regulation. The
commissioner   shall,   in   consultation   with   the   department   of
transportation  and  the  division  of the budget, establish by rule and
regulation the schedules for increased depreciation  and  standards  for
improved  service  that  must  be met in order for a railroad to receive
such  increased  depreciation  for  railroad  ceilings  established  for
assessment  rolls  filed in two thousand four and thereafter. A railroad
company that has failed to file an application or  failed  to  meet  the
standards  for  improved  services  contained  in  any  such  rules  and
regulations of the commissioner prior to the establishment  of  railroad
ceilings  for  assessment rolls filed in two thousand four shall receive
one-half the benefit for increased depreciation that such company  would
have received had such application been made and such standards been met