NY Real Prop Tax L § 489-FFFF (2021)
2021 New York Laws RPT - Real Property Tax Article 4 - Exemptions Title 2-D - Tax Exemption and Deferral of Tax Payments for Certain Industrial and Commercial Properties in a City of One Million or More Persons 489-FFFF - Reporting Requirement; Termination of Benefits.

§  489-ffff.  Reporting  requirement; termination of benefits. 1. Upon   approval by the department  of  buildings  of  the  plans  submitted  in   connection  with  the  building permit and any amendments to such plans,   the recipient shall file with the  department  of  finance  a  narrative   description of such approved plans describing the industrial, commercial   or  renovation construction work for which such recipient seeks benefits   pursuant to this title.2. For the duration of the benefit period  the  recipient  shall  file   annually with the department of finance, on or before the taxable status   date, a certificate of continuing use stating the purposes for which the   property  described  in the certificate of eligibility is being used and   the net square footage allotted to each such purpose.  Such  certificate   of  continuing  use  shall  be on a form prescribed by the department of   finance and shall state the total number  of  workers  employed  on  the   property  and  the  number  of  such workers who are city residents. The   department  of  finance  shall  have  authority  to  terminate  benefits   pursuant  to  this  title  upon  failure  of  a  recipient  to file such   certificate by the taxable status date. The burden of proof shall be  on   the  recipient  to establish continuing eligibility for benefits and the   department  of  finance  shall  have  the  authority  to  require   that   statements made in such certificate shall be made under oath.3.  A  recipient  shall file an amendment to the latest certificate of   continuing use prior to (a) converting square  footage  within  property   which  is  the  subject  of  a certificate of eligibility for industrial   construction work from use for the manufacturing activities described in   such certificate of continuing use where such conversion results in less   than sixty-five per centum of total net square  footage  being  used  or   held  out  for  use  for manufacturing activities; or (b) converting any   portion of property which is the subject of a certificate of eligibility   to use for any restricted activity or as residential property.4. Not later than eighteen  months  after  the  effective  date  of  a   certificate  of  eligibility,  with an effective date of June thirtieth,   nineteen hundred ninety-two  or  before,  the  recipient  shall  present   evidence  to  the department of finance demonstrating that the recipient   has made one-half of the minimum required expenditure.   Not later  than   thirty-six  months  after  the  effective date of such certificate, such   recipient shall present evidence to such department  demonstrating  that   the  recipient has made the minimum required expenditure. Not later than   thirty months after the effective date of a certificate  of  eligibility   with  an  effective  date  of July first, nineteen hundred ninety-two or   after, the recipient shall present evidence to the department of finance   demonstrating that the  recipient  has  made  one-half  of  the  minimum   required   expenditure;   provided,  however,  that  a  recipient  of  a   certificate of eligibility for renovation construction work for property   located in the renovation exemption area specified in subparagraph  (ii)   of   paragraph   (d)   of  subdivision  five  of  section  four  hundred   eighty-nine-cccc of this title shall present  such  evidence  not  later   than eighteen months after the effective date of such certificate, or by   December   thirty-first,  nineteen  hundred  ninety-four,  whichever  is   earlier; provided, further, however,  that  a  recipient  who  filed  an   application for a certificate of eligibility for renovation construction   work  for property located in the renovation exemption area specified in   subparagraph (ii) of paragraph (d) of subdivision five of  section  four   hundred  eighty-nine-cccc of this title on or after July first, nineteen   hundred  ninety-four,  but  before  February  first,  nineteen   hundred   ninety-five,  shall present such evidence not later than eighteen months   after the effective date of such certificate, or by  July  thirty-first,   nineteen  hundred  ninety-five, whichever is earlier, provided, further,    however, that a recipient who filed an application for a certificate  of   eligibility for renovation construction work for property located in the   renovation  exemption  area  specified  in  subparagraph (i) or (iii) of   paragraph   (d)   of   subdivision   five   of   section   four  hundred   eighty-nine-cccc of this title on or after July first, nineteen  hundred   ninety-five,  shall present such evidence not later than eighteen months   after the effective date of such certificate.    Not  later  than  sixty   months  after the effective date of a certificate of eligibility with an   effective date of July first, nineteen hundred ninety-two or after,  the   recipient  shall  present evidence to such department demonstrating that   the recipient has  made  the  minimum  required  expenditure;  provided,   however, that a recipient of a certificate of eligibility for renovation   construction  work for property located in the renovation exemption area   specified in subparagraph (ii) of paragraph (d) of subdivision  five  of   section  four  hundred eighty-nine-cccc of this title shall present such   evidence not later than thirty-six months after the  effective  date  of   such   certificate,   or  by  December  thirty-first,  nineteen  hundred   ninety-five, whichever is earlier; provided, further,  however,  that  a   recipient  who filed an application for a certificate of eligibility for   renovation construction work for  property  located  in  the  renovation   exemption  area  specified  in  subparagraph  (ii)  of  paragraph (d) of   subdivision five of section four hundred eighty-nine-cccc of this  title   on  or  after  July  first,  nineteen  hundred  ninety-four,  but before   February  first,  nineteen  hundred  ninety-five,  shall  present   such   evidence  not  later  than thirty-six months after the effective date of   such certificate, or by July thirty-first, nineteen hundred  ninety-six,   whichever  is  earlier, provided, further, however, that a recipient who   filed an application for a certificate  of  eligibility  for  renovation   construction  work for property located in the renovation exemption area   specified in subparagraph (i) or (iii) of paragraph (d)  of  subdivision   five  of section four hundred eighty-nine-cccc of this title on or after   July first, nineteen hundred ninety-five, shall  present  such  evidence   not  later  than  thirty-six  months  after  the  effective date of such   certificate.  Such evidence shall be presented in the  form  and  manner   prescribed  by  such  department.  The  burden  of proof shall be on the   recipient to show by clear and convincing  evidence  that  the  required   expenditures  have  been made.   This subdivision shall not apply to the   recipient of a certificate of eligibility  for  construction  of  a  new   building   or  structure  that  meets  the  requirements  set  forth  in   subdivision nine of section four hundred eighty-nine-dddd of this  title   in a new construction exemption area.5.  A  recipient of a certificate of eligibility for construction of a   new building or structure in a new  construction  exemption  area  shall   present  evidence  to  the  department of finance demonstrating that the   requirements   of   subdivision   nine   of   section    four    hundred   eighty-nine-dddd  of  this  title  have been met. Such evidence shall be   presented in the form and manner and at  the  time  prescribed  by  such   department.  The  burden  of  proof shall be on the recipient to show by   clear and convincing evidence that such requirements have been met.