§ 467-C — Exemption for property owned by certain housing companies or sublessees of the battery park city authority and occupied by senior citizen...

New York § 467-C

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 2: Private Property
• Art. 4: Exemptions

Text

§ 467-c. Exemption for property owned by certain housing companies or\nsublessees of the battery park city authority and occupied by senior\ncitizens or persons with disabilities. 1. Definitions. As used in this\nsection:\n a. "Commissioner" means the commissioner of the state division of\nhousing and community renewal.\n b. "Dwelling unit" means that part of a dwelling in which an eligible\nhead of the household resides and (1) which is subject to the provisions\nof Article II, IV, V, or XI of the private housing finance law or that\nwas formerly subject to the provisions of Article II of such law and\nmeets the conditions set forth in subdivision thirteen of this section;\nor (2) which was or continues to be subject to a mortgage insured or\ninitially insured by the federal government pursuant to section two\nhundred thirteen of the National Housing Act, as amended, in which an\neligible head of the household resides; or (3) which is within an\napplicable battery park city property.\n c. "Eligibility date" means the later of (1) January first, nineteen\nhundred seventy-five or (2) the last day of the month in which a person\nbecame an eligible head of a household in the dwelling unit in which\nsuch person resides at the time of filing the most recent application\nfor benefits hereunder; or in the case of a dwelling subject to a\nmortgage insured or initially insured by the federal government pursuant\nto section two hundred thirteen of the National Housing Act, as amended,\n"eligibility date" means the later of (1) July first, nineteen hundred\nseventy-seven, or (2) the last day of the month in which a person became\nan eligible head of a household in the dwelling unit in which such\nperson resides at the time of filing the most recent application for\nbenefits hereunder.\n d. "Eligible head of the household" means * (1) a person or his or her\nspouse who is sixty-two years of age or older and is entitled to the\npossession or to the use and occupancy of a dwelling unit, provided,\nhowever, with respect to a dwelling which was subject to a mortgage\ninsured or initially insured by the federal government pursuant to\nsection two hundred thirteen of the National Housing Act, as amended\n"eligible head of the household" shall be limited to that person or his\nor her spouse who was entitled to possession or the use and occupancy of\nsuch dwelling unit at the time of termination of such mortgage, and\nwhose income when combined with the income of all other members of the\nhousehold, does not exceed six thousand five hundred dollars for the\ntaxable period, or such other sum not less than sixty-five hundred\ndollars nor more than twenty-five thousand dollars beginning July first,\ntwo thousand five, twenty-six thousand dollars beginning July first, two\nthousand six, twenty-seven thousand dollars beginning July first, two\nthousand seven, twenty-eight thousand dollars beginning July first, two\nthousand eight, twenty-nine thousand dollars beginning July first, two\nthousand nine, and fifty thousand dollars beginning July first, two\nthousand fourteen, as may be provided by local law; or\n * NB Effective until June 30, 2026\n * (1) a person or his or her spouse who is sixty-two years of age or\nolder and is entitled to the possession or to the use and occupancy of a\ndwelling unit, provided, however, with respect to a dwelling which was\nsubject to a mortgage insured or initially insured by the federal\ngovernment pursuant to section two hundred thirteen of the National\nHousing Act, as amended "eligible head of the household" shall be\nlimited to that person or his or her spouse who was entitled to\npossession or the use and occupancy of such dwelling unit at the time of\ntermination of such mortgage, and whose income when combined with the\nincome of all other members of the household, does not exceed six\nthousand five hundred dollars for the taxable period, or such other sum\nnot less than sixty-five hundred dollars nor more than twenty-five\nthousand dollars beginning July first, two thousand five, twenty-six\nthousand dollars beginning July first, two thousand six, twenty-seven\nthousand dollars beginning July first, two thousand seven, twenty-eight\nthousand dollars beginning July first, two thousand eight, and\ntwenty-nine thousand dollars beginning July first, two thousand nine, as\nmay be provided by local law; or\n * NB Effective June 30, 2026\n(2) a person with a disability as defined in this subdivision.\n e. "Housing company" means any limited-profit housing company, limited\ndividend housing company, redevelopment company or housing development\nfund company incorporated pursuant to the private housing finance law\nand operated exclusively for the benefit of persons or families of low\nincome; or any corporate owner of a dwelling which is or was subject to\na mortgage insured or initially insured by the federal government\npursuant to section two hundred thirteen of the National Housing Act, as\namended.\n f. "Income" means:\n (1) the "adjusted gross income" for federal income tax purposes as\nreported on the applicant's federal or state income tax return for the\napplicable income tax year, subject to any subsequent amendments or\nrevisions, plus any social security benefits not included in such\nfederal adjusted gross income; provided that if no such return was filed\nfor the applicable income tax year, the applicant's income shall be\ndetermined based on the amounts that would have so been reported if such\na return had been filed; and provided further, that when determining\nincome for purposes of this section, the following conditions shall be\napplicable:\n (i) the governing body of a municipal corporation, after a public\nhearing, may adopt a local law, ordinance or resolution providing that\nany social security benefits that were not included in the applicant's\nadjusted gross income shall not be considered income;\n (ii) distributions received from an individual retirement account or\nindividual retirement annuity that were included in the applicant's\nfederal adjusted gross income shall not be considered income unless the\ngoverning body of a municipal corporation, after a public hearing,\nadopts a local law, ordinance or resolution providing otherwise;\n (iii) the applicant's income shall be offset by all medical and\nprescription drug expenses actually paid that were not reimbursed or\npaid for by insurance, if the governing body of a municipal corporation,\nafter a public hearing, adopts a local law, ordinance or resolution\nproviding therefor;\n (iv) any tax-exempt interest or dividends that were excluded from the\napplicant's federal adjusted gross income shall be considered income;\nand\n (v) any losses that were applied to reduce the applicant's federal\nadjusted gross income shall be subject to the following limitations:\n (A) the net amount of loss reported on federal Schedule C, D, E, or F\nshall not exceed three thousand dollars per schedule,\n (B) the net amount of any other separate category of loss shall not\nexceed three thousand dollars, and\n (C) the aggregate amount of all losses shall not exceed fifteen\nthousand dollars; and\n (vi) When the eligible head of the household has retired on or after\nthe commencement of the taxable period and prior to the date of making\nan application for a rent increase exemption order/tax abatement\ncertificate pursuant to this section, such person's income shall be\nadjusted by excluding salary or earnings and projecting such person's\nretirement income over the entire taxable period; or\n (2) notwithstanding subparagraph one of this paragraph, in a city with\na population of one million or more persons:\n (i) the sum of the adjusted gross incomes reported on the federal\nincome tax returns of the applicant and all other members of the\napplicant's household for the most recent income tax year or years for\nwhich data is sufficiently available to determine the applicant's\neligibility for exemptions pursuant to this section, subject to any\nsubsequent amendments or revisions, less any distributions, to the\nextent included in each such adjusted gross income, received from an\nindividual retirement account or retirement annuity; provided that if no\nsuch income tax return was filed by any member of the applicant's\nhousehold for such income tax year, the income of such applicant or\nmember of the applicant's household shall be determined as if such a\nreturn had been filed;\n (ii) provided, however, that income may be calculated as the income\nreceived by the eligible head of the household combined with the income\nof all other members of the household from all sources after deduction\nof all income and social security taxes and includes without limitation,\nsocial security and retirement benefits, supplemental security income\nand additional state payments, public assistance benefits, interest,\ndividends, net rental income, salary and earnings, and net income from\nself employment, but shall not include gifts or inheritances, payments\nmade to individuals because of their status as victims of Nazi\npersecution as defined in federal P.L. 103-286, nor increases in\nbenefits accorded pursuant to the social security act or a public or\nprivate pension paid to any member of the household which increase, in\nany given year, does not exceed the consumer price index (all items\nUnited States city average) for such year which take effect after the\neligibility date of an eligible head of the household receiving benefits\nhereunder whether received by the eligible head of the household or any\nother member of the household, when the following conditions are met:\n (A) a rent increase exemption order was granted to the head of\nhousehold prior to July first, two thousand twenty-four;\n (B) such rent increase exemption order is either renewed after each\nbenefit period or granted pursuant to subparagraph four of paragraph a\nof subdivision three of this section to account for a temporary increase\nin income;\n (C) income calculated as described in this clause would yield a lower\namount than income calculated as described in clause (i) of this\nsubparagraph; and\n (iii) provided, further, that a change in the method of calculating\nincome pursuant to this subparagraph shall not affect eligibility to\nfile a short-form renewal application in accordance with subparagraph\ntwo of paragraph a of subdivision four of this section.\n g. "Income tax year" means a twelve month period for which the head of\nthe household filed a federal personal income tax return, or if no such\nreturn is filed, the calendar year.\n h. "Increase in maximum rent" means any increase in the maximum rent\nfor the dwelling unit becoming effective on or after the eligibility\ndate, including capital assessments and voluntary capital contributions\nbut excluding any increase in maximum rent attributable to gas or\nelectrical utility charges or an increase in dwelling space, services or\nequipment, or an exemption from the maximum rent or legal regulated rent\nas specified in paragraph b of subdivision three of this section,\nprovided, however, that with respect to any dwelling unit in a dwelling\nwhich is or was subject to a mortgage insured or initially insured by\nthe federal government pursuant to section two hundred thirteen of the\nNational Housing Act, as amended, "increase in maximum rent" shall not\ninclude any increase in maximum rent attributable to capital assessments\nor voluntary capital contributions.\n i. "Maximum rent" means the maximum rent, excluding gas and electric\nutility charges, which has been authorized or approved by the\ncommissioner or the supervising agency or the legal regulated rent\nestablished for the dwelling unit pursuant to the provisions of either\nArticle II, IV, V or XI of the private housing finance law, or the\nrental established for a cooperatively owned dwelling unit previously\nregulated pursuant to the provisions of Article II, IV, V or XI of the\nprivate housing finance law; or such approved rent for a dwelling unit\nin a dwelling subject to a mortgage insured or initially insured by the\nfederal government pursuant to section two hundred thirteen of the\nNational Housing Act, as amended; or such rent established for a\ndwelling unit which was subject to a mortgage insured or initially\ninsured by the federal government pursuant to section two hundred\nthirteen of the National Housing Act, as amended; or the rent\nestablished for an applicable battery park city property.\n j. "Members of the household" means the head of the household and any\nperson, permanently residing in the dwelling unit.\n k. "Supervising agency" means the comptroller in a municipality having\na comptroller; in a municipality having no comptroller, the chief fiscal\nofficer of such municipality; except that in the city of New York it\nshall be the department of housing preservation and development.\n l. "Taxable period" means the income tax year immediately preceding\nthe date of making application for a rent increase exemption order/tax\nabatement certificate.\n * m. "Person with a disability" means an individual who is currently\nreceiving social security disability insurance (SSDI) or supplemental\nsecurity income (SSI) benefits under the federal social security act or\ndisability pension or disability compensation benefits provided by the\nUnited States department of veterans affairs or those previously\neligible by virtue of receiving disability benefits under the\nsupplemental security income program or the social security disability\nprogram and currently receiving medical assistance benefits based on\ndetermination of disability as provided in section three hundred\nsixty-six of the social services law and whose income for the current\nincome tax year, together with the income of all members of such\nindividual's household, does not exceed fifty thousand dollars beginning\nJuly first, two thousand fourteen, as may be provided by local law.\n * NB Effective until June 30, 2026\n * m. "Person with a disability" means an individual who is currently\nreceiving social security disability insurance (SSDI) or supplemental\nsecurity income (SSI) benefits under the federal social security act or\ndisability pension or disability compensation benefits provided by the\nUnited States department of veterans affairs or those previously\neligible by virtue of receiving disability benefits under the\nsupplemental security income program or the social security disability\nprogram and currently receiving medical assistance benefits based on\ndetermination of disability as provided in section three hundred\nsixty-six of the social services law and whose income for the current\nincome tax year, together with the income of all members of such\nindividual's household, does not exceed the maximum income at which such\nindividual would be eligible to receive cash supplemental security\nincome benefits under federal law during such tax year.\n * NB Effective June 30, 2026\n n. "Applicable battery park city property" means a property that is\n(1) subject to a lease or sublease with the battery park city authority;\nand (2) has one or more residential units which are subject to\nlimitations on rent increases pursuant to:\n (i) a contractual agreement with the battery park city authority,\nwhich may be within the lease or sublease between the battery park city\nauthority and the lessee or sublessee; or\n (ii) a regulatory agreement with the commissioner or supervising\nagency.\n 2. The governing body of any city having a population of one million\nor more, acting through its local legislative body or other governing\nagency is hereby authorized and empowered to adopt and amend local laws\nor ordinances providing that real property of a housing company shall be\nexempt from real property taxes and that real property of an applicable\nbattery park city property shall be exempt from payments in lieu of\ntaxes (PILOT), in an amount equal to the rent increase exemptions\nactually credited to eligible heads of households pursuant to this\nsection. Any such exemption shall be in addition to any other exemption\nor abatement of taxes authorized by law.\n 3. Any such local law or ordinance shall provide that: a. an eligible\nhead of the household may obtain a rent increase exemption order/tax\nabatement certificate entitling him to an exemption from increases in\nthe maximum rent otherwise payable in one of the following amounts:\n (1) where the eligible head of the household does not receive a\nmonthly allowance for shelter pursuant to the social services law, the\namount by which increases in the maximum rent subsequent to such\nperson's eligibility date have resulted in the maximum rent exceeding\none-third of the combined income of all members of the household for the\ntaxable period, except that in no event shall a rent increase exemption\norder/tax abatement certificate become effective prior to January first,\nnineteen hundred seventy-six; or\n (2) where the eligible head of the household receives a monthly\nallowance for shelter pursuant to the social services law, an amount not\nexceeding that portion of any increase in maximum rent subsequent to\nsuch person's eligibility date which is not covered by the maximum\nallowance for shelter which such person is entitled to receive pursuant\nto the social services law.\n (3) provided, however, that in a city of a population of one million\nor more, where the eligible head of the household has been granted a\nrent increase exemption order as a person with a disability as defined\nin paragraph m of subdivision one of this section that is in effect as\nof January first, two thousand fifteen or takes effect on or before July\nfirst, two thousand fifteen, the amount determined by subparagraph one\nof this paragraph shall be an amount not in excess of the difference\nbetween the maximum rent and the amount specified in such order, as\nadjusted by any other provision of this section.\n (4) (a) Provided, however, that in a city with a population of one\nmillion or more, a head of the household who has received a rent\nincrease exemption order that has expired and who, upon renewal\napplication for the period commencing immediately after such expiration,\nis determined to be ineligible for a rent increase exemption order\nbecause the combined income of all members of the household exceeds the\nmaximum amount allowed by this section or the maximum rent or legal\nregulated rent does not exceed one-third of the combined income of all\nmembers of the household, may submit a new application during the\nfollowing calendar year, and if such head of the household receives a\nrent increase exemption order that commences during such calendar year,\nthe tax abatement amount for such order shall be calculated as if such\nprior rent increase exemption order had not expired. However, no tax\nabatement benefits may be provided for the period of ineligibility.\n (b) No head of the household may receive more than three rent increase\nexemption orders calculated as if a prior rent increase exemption order\nhad not expired, as described in clause (a) of this subparagraph.\n b. notwithstanding any other provision of law, when a head of the\nhousehold to whom a then current, valid tax abatement certificate has\nbeen issued moves his principal residence from one dwelling unit subject\nto this section, to the local emergency housing rent control law or to\nthe emergency tenant protection act of nineteen seventy-four to a\nsubsequent dwelling unit which is subject to the provisions of articles\nII, IV, V or XI of the private housing finance law and which is located\nwithin the same municipal corporation, or which is or was subject to a\nmortgage insured or initially insured by the federal government pursuant\nto section two hundred thirteen of the National Housing Act, as amended,\nand which is located within the same municipal corporation, or which is\nan applicable battery park city property, the head of the household may\napply for a tax abatement certificate relating to the subsequent\ndwelling unit, subject to any terms and conditions imposed by reason of\nany fund created under subdivision eight of this section, and such\ncertificate may provide that the head of the household shall be exempt\nfrom paying that portion of the maximum rent or legal regulated rent for\nthe subsequent dwelling unit which is the least of the following:\n (1) the amount by which the rent for the subsequent dwelling unit\nexceeds the last rent, as so reduced, which the head of the household\nwas required to actually pay in the original dwelling unit;\n (2) the most recent amount so deducted from the maximum rent or legal\nregulated rent in the original dwelling unit; or\n (3) where the head of the household does not receive a monthly\nallowance for shelter pursuant to the social services law, the amount by\nwhich the maximum rent or legal regulated rent of the subsequent\ndwelling unit exceeds one-third of the combined income of all members of\nthe household, except that this subparagraph shall not apply to a head\nof the household who has been granted a rent increase exemption order as\na person with a disability as defined in paragraph m of subdivision one\nof this section that is in effect as of January first, two thousand\nfifteen or takes effect on or before July first, two thousand fifteen.\n c. Notwithstanding any other provision of law, when a dwelling unit\nsubject to the provisions of article II, IV, V or XI of the private\nhousing finance law or subject to a mortgage insured or initially\ninsured by the federal government pursuant to section two hundred\nthirteen of the national housing act, as amended, is later reclassified\nby order of the commissioner, the supervising agency or any other\ngovernmental agency supervising such dwelling unit, or by operation of\nlaw to a dwelling unit subject to any of the provisions of article II,\nIV, V or XI of the private housing finance law, the rent stabilization\nlaw of nineteen hundred sixty-nine of the city of New York or the\nemergency tenant protection act of nineteen seventy-four, or when a\ndwelling unit subject to such rent stabilization law or such emergency\ntenant protection act, or subject to the emergency housing rent control\nlaw or to the rent and rehabilitation law of the city of New York\nenacted pursuant to the local emergency housing rent control act, is\nreclassified by order of the commissioner or the supervising agency or\nby operation of law to a dwelling unit subject to any of the\naforementioned provisions of the private housing finance law or subject\nto a mortgage insured or initially insured by the federal government\npursuant to section two hundred thirteen of the national housing act, as\namended, a head of the household who held or holds a valid rent increase\nexemption order at the time of the reclassification shall be issued a\nrent increase exemption order under applicable law continuing the\nprevious exemption notwithstanding the reclassification of the dwelling\nunit.\n d. notwithstanding any other provision of law to the contrary, where a\neligible head of the household holds a current, valid rent increase\nexemption order/tax abatement certificate and, after the effective date\nof this paragraph, there is a permanent decrease in income in an amount\nwhich exceeds twenty percent of such income as represented in such\neligible head of household's last approved application for a rent\nincrease exemption order/tax abatement certificate or for renewal\nthereof, such eligible head of the household may apply for a\nredetermination of the amount set forth therein. Upon application, such\namount shall be redetermined so as to re-establish the ratio of adjusted\nrent to income which existed at the time of approval of such eligible\nhead of the household's last application for a rent increase exemption\norder/tax abatement certificate or for renewal thereof; provided,\nhowever, that in no event shall the amount of the adjusted rent be\nredetermined to be (i) in the case of an eligible head of the household\nwho does not receive a monthly allowance for shelter pursuant to the\nsocial services law, less than one-third of income unless such head of\nthe household has been granted a rent increase exemption order as a\nperson with a disability as defined in paragraph m of subdivision one of\nthis section that is in effect as of January first, two thousand fifteen\nor takes effect on or before July first, two thousand fifteen; or (ii)\nin the case of an eligible head of the household who receives a monthly\nallowance for shelter pursuant to the social services law, less than the\nmaximum allowance for shelter which such eligible head of the household\nis entitled to receive pursuant to law. For purposes of this paragraph,\na decrease in income shall not include any decrease in income resulting\nfrom the manner in which income is calculated pursuant to any amendment\nto paragraph f of subdivision one of this section made on or after April\nfirst, nineteen hundred eighty-seven. For purposes of this paragraph,\n"adjusted rent" shall mean maximum rent less the amount set forth in a\nrent increase exemption order/tax abatement certificate.\n 4. a. (1) Any such local law or ordinance may provide that the\neligible head of the household shall apply annually to the supervising\nagency for a rent increase exemption order/tax abatement certificate on\na form to be prescribed and made available by the supervising agency.\n (2) Upon the adoption of a local law, ordinance, or resolution by the\ngoverning board of a municipality, any head of household that has been\nissued a tax abatement certificate pursuant to this section for five\nconsecutive benefit periods, and whose income and residence have not\nchanged since their last renewal application, shall be eligible to file\na short form renewal. Such statement shall be on a form prescribed by\nthe appropriate rent control agency or administrative agency and shall\ninclude the following: (i) a sworn statement certifying that such head\nof household continues to be eligible to receive such certificate and\nthat their income and residence have not changed; and (ii) a\ncertification to be signed by the applicant stating that all information\ncontained in their statement is true and correct to the best of the\napplicant's knowledge and belief and stating that they understand that\nthe willful making of any false statement of material fact therein shall\nsubject them to the provisions of law relevant to the making and filing\nof false instruments and loss of their benefit, and that subsequent\nreapplication shall be as a new applicant.\n b. The supervising agency shall approve or disapprove applications\nand, if it approves, shall issue a rent increase exemption order/tax\nabatement certificate. Copies of such order/certificate shall be issued\nto the housing company managing the dwelling unit of the eligible head\nof the household, to the eligible head of the household and to the\ncollecting officer charged with the duty of collecting the taxes of the\nmunicipality. The appropriate supervising agency shall send a notice of\nrequired renewal to each head of household currently receiving an\nexemption under this section via United States Postal Service to their\nprimary residence no less than thirty days prior to the application\nrenewal date.\n 4-a. Notwithstanding any other provision of law to the contrary, where\na head of household who holds a current, valid tax abatement certificate\ndies or permanently leaves the household as specified in rules\npromulgated by the supervising agency, a surviving member of the\nhousehold who is eligible under this section may apply to transfer the\nrent increase exemption from the head of household who has died or\npermanently left the household into their name and continue the\nexemption as the new head of household. The option to transfer the rent\nincrease exemption shall be available for a period of six months after\nthe head of household dies or permanently leaves the household or ninety\ndays after the date of notice from the supervising agency informing the\nhousehold that the rent increase exemption benefit has expired upon the\ndeath of the head of household, whichever is later. Such notice shall\ninclude an explanation of the process to transfer the exemption to an\neligible surviving household member and the time period to do so,\naccompanied by the form necessary to transfer the exemption.\n 5. Any such local law or ordinance may provide that the effective date\nof a rent increase exemption order/tax abatement certificate shall be\nthe date of the first increase in maximum rent becoming effective after\nthe applicant's eligibility date except that in no event shall a rent\nincrease exemption order/tax abatement certificate become effective\nprior to January first, nineteen hundred seventy-six.\n 6. Any such local law or ordinance may provide that upon receipt of a\ncopy of the rent increase exemption order/tax abatement certificate, the\nhousing company managing the dwelling unit or the landlord of the\ndwelling unit within an applicable battery park city property, of the\neligible head of the household shall promptly accord to the eligible\nhead of the household covered by such order/certificate the appropriate\ncredit against the monthly maximum rent then or thereafter payable. To\nthe extent the full amount of such credit has not been accorded for any\npast period since the effective date specified in the order/certificate,\nthe housing company or landlord shall credit the total aggregate amount\nnot so credited to the monthly maximum rent next payable or to such\nsubsequent monthly maximum rents as the supervising agency may\nauthorize. It shall be illegal to collect any amount for which a rent\nincrease exemption order/tax abatement certificate provides credit or to\nwithhold credit for any such amounts already collected, and collection\nor retention of any such amount for a dwelling unit occupied by such\neligible head of the household shall be deemed a rent overcharge, and\nupon conviction therefor the housing company and its directors and any\nemployee and any agent responsible therefor or the landlord and any\nemployee and any agent responsible therefor shall be guilty of a\nmisdemeanor, punishable by a fine not to exceed one thousand dollars or\nimprisonment not to exceed six months, or both.\n 7. Any such local law or ordinance may provide that in order to obtain\nthe benefits to which it is entitled under this section, a housing\ncompany or landlord of an applicable battery park city property must\nfile with the collecting officer charged with the duty of collecting\ntaxes of the municipality or PILOT a sworn application, in such form as\nsuch officer may prescribe, for any quarterly period in which the\nhousing company or landlord has accorded an eligible head of the\nhousehold an exemption hereunder from the payment of the maximum rent.\nSubject to prior or subsequent verification thereof, the collecting\nofficer shall credit the total amount of such exemptions actually\naccorded to occupants of dwelling units contained in the property\nagainst the real property taxes or PILOT otherwise payable with respect\nto the property. The housing company or landlord shall attach to such\napplication copies of all rent increase exemption orders/tax abatement\ncertificates issued to eligible heads of the household residing in\ndwelling units in such real property.\n 8. Any such local law or ordinance may provide that in the event that\nthe real property of a housing company or applicable battery park city\nproperty containing one or more dwelling units shall be totally exempt\nfrom local and municipal real property taxes or PILOT for any fiscal\nyear as a result of the exemptions from maximum rent credited pursuant\nto this section, or otherwise, such municipality may make or contract to\nmake payments to a housing company or landlord in an amount not\nexceeding the amount necessary to reimburse the housing company or\nlandlord for the total dollar amount of all exemptions from the payment\nof the maximum rent accorded pursuant to this section to eligible heads\nof the household residing in dwelling units in such real property.\nNotwithstanding the foregoing, the battery park city authority shall\nhave no obligation whatsoever to reimburse a landlord.\n A municipality may create and establish a fund in order to provide for\nthe payments made in accordance with contracts entered into pursuant to\nthis subdivision. There may be paid into such fund (1) all of the rental\nsurcharges collected by the municipality from housing companies\norganized and existing pursuant to Articles II, IV, V and XI of the\nprivate housing finance law and (2) any moneys appropriated or otherwise\nmade available by the municipality for the purpose of such fund.\n 9. The supervising agency may promulgate such rules and regulations as\nmay be necessary to effectively carry out the provisions of this act.\n 10. Any such local law or ordinance may provide that it shall be\nillegal, for any person submitting an application for a rent increase\nexemption pursuant to this section, to make any false statement or\nwillful misrepresentation of fact, and upon conviction thereof such\napplicant shall be guilty of a misdemeanor, punishable by a fine not to\nexceed five hundred dollars or imprisonment not to exceed ninety days,\nor both.\n 11. Notwithstanding any other provision of law and to the extent\napplicable to the provisions of this section, any renewal application\nbeing made by the tenant pursuant to this section, any rent exemption\norder then in effect with respect to such tenant shall be deemed renewed\nuntil such time as the city rent agency shall have found such tenant to\nbe either eligible or ineligible for a rent exemption order but in no\nevent for more than six additional months. If such tenant is found\neligible, the order shall be deemed to have taken effect upon expiration\nof the exemption. In the event that any such tenant shall, subsequent to\nany such automatic renewal, not be granted a rent exemption order, such\ntenant shall be liable to his landlord for the difference between the\namounts he has paid under the provisions of the automatically renewed\norder and the amounts which he would have been required to pay in the\nabsence of such order. Any rent exemption order issued pursuant to this\nsection shall include provisions giving notice as to the contents of\nthis subdivision relating to automatic renewals of rent exemption\norders.\n 12. Notwithstanding any inconsistent provision of law, any such local\nlaw or ordinance may provide that whenever a rent increase exemption\norder/tax abatement certificate is issued to an eligible head of the\nhousehold residing in a dwelling unit owned by a housing company which\nis subject to the provisions of article II, IV, V or XI of the private\nhousing finance law entitling such eligible person to an exemption from\nan increase in maximum rent attributable to a capital assessment or\nvoluntary capital contribution made prior to, on or after the effective\ndate of this subdivision and such person later transfers his shares in\nsuch housing company, such person shall be required to pay over to such\nhousing company, or such housing company shall be entitled to deduct\nfrom the amount to be paid to such person for the sale of such shares,\nall amounts covered by such rent increase exemption order/tax abatement\ncertificate which are attributable to such capital assessment or\nvoluntary capital contribution. Such housing company shall not approve\nthe transfer of shares unless it has received the payment required by\nthe preceding sentence or made the deduction therein authorized. Such\nhousing company shall remit such amount to the municipality within\nninety days of the collection thereof. Payments due to the municipality\nin accordance with this subdivision shall be deemed a tax lien and may\nbe enforced in any manner authorized for the collection of delinquent\ntaxes on real property.\n 13. In a city with a population of one million or more, any such local\nlaw, ordinance or resolution may provide for a rent increase exemption\norder and the abatement of taxes of such city imposed on real property\nformerly subject to the provisions of Article II of the private housing\nfinance law prior to the effective date of the chapter of the laws of\ntwo thousand twenty-two that added this subdivision containing dwelling\nunits that are subject to a regulatory agreement in which the qualifying\nhead of household or their qualifying successor in interest: (a) has a\nsigned agreement with the landlord to limit increases in maximum rent\nfor the lifetime of the tenancy to an amount established by the rent\nguidelines board in its annual guidelines for rent adjustments for\nhousing accommodations subject to the emergency tenant protection act of\nnineteen seventy-four or the administrative code of the city of New York\nor to another amount provided for in such regulatory agreement; and (b)\nis otherwise eligible for such tax abatement. Any such local law,\nordinance, or resolution may provide that the effective date of a rent\nincrease exemption order/tax abatement certificate shall be May\nthirty-first, two thousand twenty-two for any applicant found eligible\non or before March thirty-first, two thousand twenty-four.\n