2023 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.