§ 489-FFFF — Reporting requirement; termination of benefits

New York § 489-FFFF

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

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§ 489-ffff. Reporting requirement; termination of benefits. 1. Upon\napproval by the department of buildings of the plans submitted in\nconnection with the building permit and any amendments to such plans,\nthe recipient shall file with the department of finance a narrative\ndescription of such approved plans describing the industrial, commercial\nor renovation construction work for which such recipient seeks benefits\npursuant to this title.\n 2. For the duration of the benefit period the recipient shall file\nannually with the department of finance, on or before the taxable status\ndate, a certificate of continuing use stating the purposes for which the\nproperty described in the certificate of eligibility is being used and\nthe net square footage allotted to each such purpose. Such certificate\nof continuing use shall be on a form prescribed by the department of\nfinance and shall state the total number of workers employed on the\nproperty and the number of such workers who are city residents. The\ndepartment of finance shall have authority to terminate benefits\npursuant to this title upon failure of a recipient to file such\ncertificate by the taxable status date. The burden of proof shall be on\nthe recipient to establish continuing eligibility for benefits and the\ndepartment of finance shall have the authority to require that\nstatements made in such certificate shall be made under oath.\n 3. A recipient shall file an amendment to the latest certificate of\ncontinuing use prior to (a) converting square footage within property\nwhich is the subject of a certificate of eligibility for industrial\nconstruction work from use for the manufacturing activities described in\nsuch certificate of continuing use where such conversion results in less\nthan sixty-five per centum of total net square footage being used or\nheld out for use for manufacturing activities; or (b) converting any\nportion of property which is the subject of a certificate of eligibility\nto use for any restricted activity or as residential property.\n 4. Not later than eighteen months after the effective date of a\ncertificate of eligibility, with an effective date of June thirtieth,\nnineteen hundred ninety-two or before, the recipient shall present\nevidence to the department of finance demonstrating that the recipient\nhas made one-half of the minimum required expenditure. Not later than\nthirty-six months after the effective date of such certificate, such\nrecipient shall present evidence to such department demonstrating that\nthe recipient has made the minimum required expenditure. Not later than\nthirty months after the effective date of a certificate of eligibility\nwith an effective date of July first, nineteen hundred ninety-two or\nafter, the recipient shall present evidence to the department of finance\ndemonstrating that the recipient has made one-half of the minimum\nrequired expenditure; provided, however, that a recipient of a\ncertificate of eligibility for renovation construction work for property\nlocated in the renovation exemption area specified in subparagraph (ii)\nof paragraph (d) of subdivision five of section four hundred\neighty-nine-cccc of this title shall present such evidence not later\nthan eighteen months after the effective date of such certificate, or by\nDecember thirty-first, nineteen hundred ninety-four, whichever is\nearlier; provided, further, however, that a recipient who filed an\napplication for a certificate of eligibility for renovation construction\nwork for property located in the renovation exemption area specified in\nsubparagraph (ii) of paragraph (d) of subdivision five of section four\nhundred eighty-nine-cccc of this title on or after July first, nineteen\nhundred ninety-four, but before February first, nineteen hundred\nninety-five, shall present such evidence not later than eighteen months\nafter the effective date of such certificate, or by July thirty-first,\nnineteen hundred ninety-five, whichever is earlier, provided, further,\nhowever, that a recipient who filed an application for a certificate of\neligibility for renovation construction work for property located in the\nrenovation exemption area specified in subparagraph (i) or (iii) of\nparagraph (d) of subdivision five of section four hundred\neighty-nine-cccc of this title on or after July first, nineteen hundred\nninety-five, shall present such evidence not later than eighteen months\nafter the effective date of such certificate. Not later than sixty\nmonths after the effective date of a certificate of eligibility with an\neffective date of July first, nineteen hundred ninety-two or after, the\nrecipient shall present evidence to such department demonstrating that\nthe recipient has made the minimum required expenditure; provided,\nhowever, that a recipient of a certificate of eligibility for renovation\nconstruction work for property located in the renovation exemption area\nspecified in subparagraph (ii) of paragraph (d) of subdivision five of\nsection four hundred eighty-nine-cccc of this title shall present such\nevidence not later than thirty-six months after the effective date of\nsuch certificate, or by December thirty-first, nineteen hundred\nninety-five, whichever is earlier; provided, further, however, that a\nrecipient who filed an application for a certificate of eligibility for\nrenovation construction work for property located in the renovation\nexemption area specified in subparagraph (ii) of paragraph (d) of\nsubdivision five of section four hundred eighty-nine-cccc of this title\non or after July first, nineteen hundred ninety-four, but before\nFebruary first, nineteen hundred ninety-five, shall present such\nevidence not later than thirty-six months after the effective date of\nsuch certificate, or by July thirty-first, nineteen hundred ninety-six,\nwhichever is earlier, provided, further, however, that a recipient who\nfiled an application for a certificate of eligibility for renovation\nconstruction work for property located in the renovation exemption area\nspecified in subparagraph (i) or (iii) of paragraph (d) of subdivision\nfive of section four hundred eighty-nine-cccc of this title on or after\nJuly first, nineteen hundred ninety-five, shall present such evidence\nnot later than thirty-six months after the effective date of such\ncertificate. Such evidence shall be presented in the form and manner\nprescribed by such department. The burden of proof shall be on the\nrecipient to show by clear and convincing evidence that the required\nexpenditures have been made. This subdivision shall not apply to the\nrecipient of a certificate of eligibility for construction of a new\nbuilding or structure that meets the requirements set forth in\nsubdivision nine of section four hundred eighty-nine-dddd of this title\nin a new construction exemption area.\n 5. A recipient of a certificate of eligibility for construction of a\nnew building or structure in a new construction exemption area shall\npresent evidence to the department of finance demonstrating that the\nrequirements of subdivision nine of section four hundred\neighty-nine-dddd of this title have been met. Such evidence shall be\npresented in the form and manner and at the time prescribed by such\ndepartment. The burden of proof shall be on the recipient to show by\nclear and convincing evidence that such requirements have been met.\n