dliu1/legal-llama-raw-text huggingface dataset:
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. Such increased
depreciation shall only be granted for railroad ceilings established for
assessment  rolls  filed  in  two  thousand  four  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.  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 shall
be  met  in  order  for  a  railroad  company  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  the  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 of
the benefit for increased depreciation that it would have  received  had
such  application  been  made  or  such  standards  been met in a timely
fashion. The standards for increased depreciation shall  be  based  upon
increased  tonnage,  increased  level  of  passenger  service, increased
number  of  passenger  trains  andor  improved   on-time   performance,
increased  average speed, and any other factors indicating improved rail
service as the commissioner and the department of  transportation  shall
specify.
State  equalization  rate.  1.  In  determining  railroad
ceilings, the commissioner shall apply  the  latest  state  equalization
rate  for  the  appropriate  assessing  unit,  except that, if a special
equalization rate has been established as provided in subdivision two of
this section, such rate shall be  applied.  For  the  purposes  of  this
title,  the  equalization  rate  to  be  applied  in  computing railroad
ceilings in the city of New York shall be computed by  the  commissioner
on  a  city-wide  basis,  giving  appropriate weight to the latest state
equalization rates or special equalization rates of  the  five  counties
within such city.
2.  The  commissioner  shall establish a special equalization rate for
the purposes of this section where there has been a change in  level  of
assessment  on the assessment roll for which a railroad ceiling is to be
determined, subject to the provisions of title two of article twelve  of
this  chapter,  or  the  state equalization rate that would otherwise be
applied reflects the level of assessment on the property subject to  the
railroad  ceiling  or where a final state equalization rate has not been
Final  determination  of railroad ceiling; certificate. 1.
After the hearing provided for in section four hundred eighty-nine-kk of
this title, the state board of real property tax services shall  finally
determine  the  railroad  ceiling for the railroad real property of each
railroad  company  situated  in  each  assessing  unit.  Whenever   upon
complaint  the state board shall revise the local reproduction cost of a
railroad company in an assessing unit, it shall revise  the  appropriate
railroad  ceiling to reflect such revision, but it shall not, on account
of such revision, modify any other determination  with  respect  to  the
railroad   ceilings   for   such   railroad   company   for  such  year.
Notwithstanding the fact that no complaint shall have  been  filed  with
respect  to  a  tentative determination of a railroad ceiling, the state
board shall give effect to any  special  equalization  rate  established
pursuant  to  subdivision  two of section four hundred eighty-nine-jj of
2. Not later than ten days before the last date prescribed by law  for
the  levy  of  taxes,  the  state board shall file a certificate setting
forth each railroad ceiling as finally determined with the  assessor  of
the  appropriate  assessing  unit  or  the  town  or county assessor who
prepares a copy of the applicable part of the town or county  assessment
roll  for  village  tax  purposes  as  provided  in subdivision three of
transmit to each railroad  company  for  which  such  ceiling  has  been
3.  Any  final  determination of a railroad ceiling by the state board
Reports  to  commissioner.  1. Each railroad company shall
furnish the commissioner the following:
(a) A copy  of  all  income,  profit  and  loss  and  other  financial
statements  filed  with  the interstate commerce commission or any other
federal agency or officer and the commissioner of transportation; and
(b) Such other reports as the  commissioner  may  from  time  to  time
2. Each railroad company shall pay  an  annual  charge  to  the  state
3.  Any  railroad  company  failing  to make any report required by or
for each day that such failure continues. Acknowledgement of receipt  of
Inspection of accounts and property of railroad companies.
1.  The commissioner or its authorized representative shall have  access
at  reasonable  times  to  all  accounts  and  records  established  and
maintained by a railroad company  relating  to  its  property  used  for
transportation purposes and the earnings derived therefrom.
2.  The  commissioner  or its authorized representative shall have the
power at reasonable times to enter in or upon and to inspect  the  road,
Determination of railroad ceilings for certain railroads in
transition.  Notwithstanding any other provision of this title, railroad
ceilings  established during the first five years in which such ceilings
are made pursuant to this title for railroad real property acquired  (a)
from  a  railroad  in  reorganization  as  defined  in the regional rail
reorganization act of nineteen hundred  seventy-three  by  a  profitable
railroad  as  defined in that act or by a subsidiary thereof or (b) from
any source or in any manner by  any  corporation  created  under  or  in
compliance  with  that act or the rail passenger service act of nineteen
hundred seventy shall be established by  using  an  economic  factor  of
twenty  percent  and  by  using,  except  for  property  for which local
reproduction cost was not determined prior to the effective date of this
act, the same local  reproduction  cost  as  would  have  been  used  if
acquisition of the property by the said corporations had not occurred.
not  apply  to  railroad  real  property  which is owned by or under the
Definitions. When used in this title:
1.  Applicant  means any person or corporation obligated to pay real
property taxes on the property for which an exemption is sought,  or  in
the  case  of  exempt  property,  the  record  owner  thereof, provided,
however, that such property is not commercial  property  located  in  an
area   designated   as   excluded   pursuant  to  section  four  hundred
eighty-nine-ccc of this title;
2. Board means the industrial and commercial incentive board;
3. Commercial means any non-residential property used primarily  for
the  buying,  selling  or  otherwise  providing  of  goods  or services,
provided that the use of such property has  not  been  designated  as  a
restricted   commercial   use   pursuant   to   section   four   hundred
4. Construction means the building of new industrial  or  commercial
structures on vacant or predominantly vacant land, or the modernization,
rehabilitation   or  expansion  or  other  improvement  of  an  existing
commercial structure where such modernization, rehabilitation, expansion
or other improvement is not physically or functionally  integrated  with
the  existing  structure  or results in additional usable square footage
fifty per centum  greater  than  the  square  footage  of  the  existing
structure;
5. Industrial means property used primarily for the manufacturing or
assembling of goods or the processing of raw materials;
6. Predominantly vacant land means land, including land under water,
on  which  not  more  than  fifteen  percent  of  the  lot area contains
enclosed, permanent improvements; in addition,  such  land  may  include
existing foundations.  A fence, shed, garage, attendant's booth, paving,
pier, bulkhead, lighting fixtures, and similar items, or any improvement
having  an  assessed  value  of less than two thousand dollars shall not
constitute an enclosed, permanent improvement;
7. Reconstruction means the modernization, rehabilitation, expansion
or other improvement of an existing commercial or  industrial  structure
where  the total proposed project cost is in an amount equal to at least
twenty percentum of the assessed value of the property at  the  time  an
application  for  a certificate of eligibility pursuant to this title is
made, and where such modernization, rehabilitation, expansion  or  other
improvement  is physically and functionally integrated with the existing
structure and does not create additional usable square  footage  greater
than  fifty  per  centum  of  the  usable square footage of the existing
structure except in  a  case  where  the  existing  structure  has  been
substantially destroyed by fire or other casualty;
8.  Residential  property  shall  mean property, other than property
used for  hotel  purposes,  on  which  will  exist  upon  completion  of
construction   a   building   or  structure  containing  more  than  one
independent dwelling unit or where more  than  one-third  of  the  total
square footage of said structure is to be used for residential purposes;
it  shall  also  mean,  in the case of reconstruction, property on which
exists or will exist upon completion of the reconstruction a building or
structure where more than one-third of the total square footage is  used
or is to be used for dwelling purposes;
9.  Vacant  land  means  land,  including  land  under  water, which
contains no enclosed, permanent  improvement.  A  fence,  shed,  garage,
attendant's  booth,  paving,  pier,  bulkhead,  lighting  fixtures,  and
similar items, or any improvement having an assessed value of less  than
two  thousand  dollars  shall  not  constitute  an  enclosed,  permanent
improvement;
Industrial and commercial incentive board.  Any city of one
million  or  more persons may, by local law, establish an industrial and
commercial incentive board to consist of the deputy mayor for,  economic
policy  and  development,  who  shall  be  chairman  of  the  board, the
commissioner of finance, the chairman of the  city  planning  commission
and  the  director of management and budget, each of whom shall have the
power to designate an alternate to represent him at board meetings  with
all  the rights and powers, including the right to vote, reserved to all
board members, provided that such  designation  be  in  writing  to  the
chairman  of  the  board, and three other members to be appointed by the
mayor.   In addition, the borough  president  of  each  borough  or  his
designated  representative,  shall  be  a  member  of such board for the
purpose of taking  action  with  respect  to  property  located  in  his
borough.  The  members of any board established pursuant to this section
who shall be agents, officers, or employees of  said  city  shall  serve
without  compensation  but  shall be reimbursed for expenses necessarily
incurred in the performance of their duties. The members  of  any  board
established  pursuant  to  this section who are not agents, officers, or
employees of said city shall receive as compensation for their  services
one  hundred  dollars  per  diem,  provided,  however,  that  the  total
compensation paid to any such member shall  not  exceed  twelve  hundred
dollars  for  any  calendar  year.  Four members of any such board shall
constitute a quorum.
Functions,  powers  and  duties  of  the  board;  annual
designation of exemption areas and restricted commercial  uses.  1.  The
members  of  the  board  shall  have the following functions, powers and
duties:
(a) to receive and review applications for certificates of eligibility
pursuant to this title and pursuant  to  any  local  law  authorized  by
chapter  seven  hundred  seventy-two  of  the  laws  of nineteen hundred
sixty-six, containing provisions analogous to subsection four-d thereof;
(b) to make  findings  and  determinations  on  the  qualification  of
applicant  for  certificates  of  eligibility pursuant to this title and
pursuant  to  any  local  law  authorized  by  chapter   seven   hundred
seventy-two  of  the  laws  of  nineteen  hundred  sixty-six, containing
provisions analogous to subdivision (f) of subsection  one  hundred  one
thereof;
(c) to issue certificates of eligibility and amendments thereto;
(d)  to  make recommendations to the tax commission on the termination
of a tax exemption pursuant to section four hundred  eighty-nine-ggg  of
this title;
(e)  to  designate  annually,  pursuant  to  subdivision  two  of this
section, areas  in  which  exemptions  for  commercial  construction  or
reconstruction  shall  be  granted  as  of  right, areas from which such
exemptions shall be excluded and commercial uses for which the  granting
of exemptions shall be restricted; and
(f)  to  make  and  promulgate  rules and regulations to carry out the
purposes of the board.
2. (a) Not later than October first  of  each  year  the  board  shall
publish  a  notice at least once in the official paper or a newspaper of
general  circulation  in  the  city  setting  forth:  (i)  the  proposed
boundaries  of  areas in which commercial construction or reconstruction
shall be granted exemptions as of right, proposed  boundaries  of  areas
from  which  exemptions  for  commercial  construction or reconstruction
shall be excluded and proposed restricted commercial uses; and (ii)  the
date,  not  earlier  than  ten  nor later than thirty days following the
publication of such notice, on  which  the  board  will  hold  a  public
hearing  to  hear  all  persons  interested  in  the designation of such
boundaries and restricted commercial uses.
(b) Not earlier than ten nor later  than  thirty  days  following  the
conclusion  of  the public hearing provided for in paragraph (a) of this
subdivision, the board shall designate the boundaries of areas in  which
exemptions  for  commercial  construction  or  reconstruction  shall  be
granted as of right and  areas  from  which  such  exemptions  shall  be
excluded  and  shall  also  designate  restricted  commercial uses. Such
designations shall be made upon the following determinations:
(i)  With  respect  to  areas  in  which  exemption   for   commercial
construction  or  reconstruction shall be granted as of right, the board
shall determine that market  conditions  in  each  area  are  such  that
exemptions   are   required   to   attract  commercial  construction  or
reconstruction to the area and  that  attracting  such  construction  or
reconstruction,  and  the  granting  of  exemptions therefor, are in the
public interest. In making such determination, the board  may  consider,
among  other factors, that the area is experiencing economic distress or
is characterized by an unusually large number of vacant,  underutilized,
unsuitable   or   substandard   structures,  or  by  other  substandard,
unsanitary, deteriorated or deteriorating conditions,  with  or  without
tangible  blight,  or  that  commercial  development in the area will be
beneficial to the city's economy.
(ii) With respect  to  areas  from  which  exemptions  for  commercial
construction  or  reconstruction  are  to  be  excluded, the board shall
determine that market conditions in each area are such  that  exemptions
are not required to attract commercial construction or reconstruction to
the  area,  or that it is not in the public interest to grant exemptions
for   commercial   construction   or  reconstruction  in  the  area.  No
applications   for   exemptions   for   commercial    construction    or
reconstruction shall be accepted from such areas.
(iii)  With  respect  to  restricted  commercial uses, the board shall
determine that it is not in the public interest to grant exemptions  for
such  uses  unless  the  board  further determines that in certain areas
designated  pursuant  to  this  subdivision,  such  uses  will  have  an
especially  positive  impact on the area's economy. All applications for
exemptions for restricted commercial uses shall be  determined  pursuant
to  paragraphs  (b)  and  (c) of subdivision two of section four hundred
eighty-nine-eee of this title.
(c) Designations made pursuant to this subdivision shall be  effective
on the first day of January of each year.
3. So far as practicable and subject to the approval of the mayor, the
services  of  all  other  city  departments  and  agencies shall be made
available by their respective heads to the board for the carrying out of
the functions stated in this title. The head of any department or agency
shall furnish information in the possession of such department or agency
when the board, after consultation with the mayor, so requests.
Real  property  tax  exemption.  1.  A  real property tax
exemption pursuant to this title shall be granted to an  applicant  who,
within a period of thirty-six months, or following an extension pursuant
to section four hundred eighty-nine-hhh of this title within a period of
forty-eight  months,  from  the  date  of  issuance  of a certificate of
eligibility  has  completed  reconstruction  or  construction  work   in
accordance  with  the  plans approved by the board in the certificate of
eligibility. The amount of the tax  exemption  shall  be  determined  as
(a)  In  the  case  of  an  applicant  who  has  completed  industrial
construction or reconstruction work, or commercial  reconstruction  work
designated  as of right pursuant to section four hundred eighty-nine-ccc
of this title or as specially needed pursuant to  section  four  hundred
eighty-nine-eee  of  this  title,  the  tax exemption shall continue for
nineteen tax years in an amount decreasing by five per centum each  year
from  an  exemption  of ninety-five per centum of the exemption base, as
defined in paragraph (d) of this subdivision.
(b) In the case of an applicant who  has  completed  other  commercial
reconstruction  work,  or new commercial construction work designated as
of right pursuant to section four hundred eighty-nine-ccc of this  title
or  as specially needed pursuant to section four hundred eighty-nine-eee
of this title, the tax exemption shall continue for ten tax years, in an
amount decreasing by five per centum each  year  from  an  exemption  of
fifty per centum of the exemption base.
(c) In the case of an applicant who has completed other new commercial
construction work, the exemption shall continue for five tax years in an
amount decreasing by ten per centum each year from an exemption of fifty
per centum of the exemption base.
(d)  The  term  exemption base shall mean the difference between the
final assessed value of the property as determined  upon  completion  of
the  construction  or  reconstruction  work  and  the  lesser of (i) the
assessed value of  the  property  at  the  time  an  application  for  a
certificate  of  eligibility pursuant to this title is made, or (ii) the
assessed value as may thereafter be reduced pursuant to  application  to
the tax commission.
The tax exemption shall be computed according to the following tables:
CONSTRUCTION OR RECONSTRUCTION OF INDUSTRIAL
STRUCTURES OR RECONSTRUCTION OF AS OF RIGHT OR
SPECIALLY NEEDED COMMERCIAL STRUCTURES
Year following                             Percentage of
completion of work                           exemption
1.                                      95
2.                                      90
3.                                      85
4.                                      80
5.                                      75
6.                                      70
7.                                      65
8.                                      60
9.                                      55
10.                                      50
11.                                      45
12.                                      40
13.                                      35
14.                                      30
15.                                      25
16.                                      20
17.                                      15
18.                                      10
19.                                       5
RECONSTRUCTION OF OTHER COMMERCIAL STRUCTURES
OR CONSTRUCTION OF AS OF RIGHT OR SPECIALLY
NEEDED COMMERCIAL STRUCTURES
1.                                      50
2.                                      45
3.                                      40
4.                                      35
5.                                      30
6.                                      25
7.                                      20
8.                                      15
9.                                      10
10.                                       5
CONSTRUCTION OF OTHER NEW COMMERCIAL STRUCTURES
2.                                      40
3.                                      30
4.                                      20
5.                                      10
2.  The  taxes  payable  during  the  period  from  the  issuance of a
certificate of eligibility to the approval of the tax exemption pursuant
to section four hundred eighty-nine-fff of this title shall be  paid  on
the lesser of:
(a)  the assessed value of the property at the time an application for
a certificate of eligibility pursuant to this title is made, or (b)  the
assessed  value  as may thereafter be reduced pursuant to application to
the  tax  commission,  provided,  however,  that  if  reconstruction  or
construction  is  not completed in accordance with the plans approved in
the certificate of eligibility including any amendments  thereto,  taxes
shall be due and payable retroactively as otherwise required by law.
3.  In  all  cases  where the board shall have issued a certificate of
eligibility prior to January first,  nineteen  hundred  eighty-two,  the
exemption  percentage  shall  apply  to  any  subsequent increase in the
assessed valuation of the property during the tenure of  the  exemption.
Where  the  board  has  issued  a certificate of eligibility on or after
January first, nineteen hundred  eighty-two,  the  exemption  percentage
shall  apply to any subsequent increase in the assessed valuation of the
property during the first two years after approval of the tax  exemption
pursuant   to  section  four  hundred  eighty-nine-fff  of  this  title.
Commencing two years after approval of the  tax  exemption  pursuant  to
section  four  hundred  eighty-nine-fff  of  this  title,  the exemption
percentage shall apply to any subsequent increase in assessed  valuation
of  the property only to the extent such increase is attributable to the
construction or reconstruction  work  approved  in  the  certificate  of
eligibility.
4.  The  provisions  of  this title shall not apply to any increase in
assessed value resulting from the construction or  reconstruction  of  a
residential  structure  on any property receiving an exemption under the
provisions of this title. The  provisions  of  this  title  shall  apply
exclusively to those structures and the lands underlying them which were
identified explicitly in the certificate of eligibility.
5.  The  provisions  of  this  title  shall  not  apply  if any new or
rehabilitated construction displaces or replaces a building or buildings
containing more than twenty-five occupied dwelling units in existence on
the date an application for certificate of eligibility is submitted  for
preliminary approval pursuant to section four hundred eighty-nine-eee of