§ 432. Railroad participation in the program. The level of railroad\nparticipation in the program for the period nineteen hundred\neighty-seven through nineteen hundred ninety-one shall depend on the\nestimated tax abatement as computed by the commissioner of taxation and\nfinance pursuant to either subdivision (c) of section four hundred\neighty-nine-j or subdivision (c) of section four hundred eighty-nine-hh\nof the real property tax law. The nature of railroad participation in\nthe program, as set forth below, shall be based on the railroad's\neconomic or exemption factor under title two-A and title two-B of\narticle four of the real property tax law, as applicable, and the\nrailroad's size classification as determined by the United States\ndepartment of transportation, based on railr
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§ 432. Railroad participation in the program. The level of railroad\nparticipation in the program for the period nineteen hundred\neighty-seven through nineteen hundred ninety-one shall depend on the\nestimated tax abatement as computed by the commissioner of taxation and\nfinance pursuant to either subdivision (c) of section four hundred\neighty-nine-j or subdivision (c) of section four hundred eighty-nine-hh\nof the real property tax law. The nature of railroad participation in\nthe program, as set forth below, shall be based on the railroad's\neconomic or exemption factor under title two-A and title two-B of\narticle four of the real property tax law, as applicable, and the\nrailroad's size classification as determined by the United States\ndepartment of transportation, based on railroad system gross revenues.\nRegardless of the level of their participation, all railroads shall\nannually certify to the commissioner that to the best of their knowledge\nand belief such railroads are in substantial compliance with the terms\nand conditions of any contracts they may have with the department.\n 1. Class I railroads with economic factors greater than fifteen\npercent and other railroads with exemption factors less than eighty-five\npercent shall undertake capital improvement projects which augment the\nrailroad's normal capital program.\n 2. Class I railroads with economic factors equal to fifteen percent\nshall expand their maintenance-of-way programs over and above the level\nthe railroad would have otherwise undertaken.\n 3. Other railroads with exemption factors equal to eighty-five percent\nshall apply their additional tax abatement toward the continuation of\nservice, in a manner determined by railroad management.\n 4. Class I railroads over whose facilities intercity rail passenger\nservice is operated shall include projects which will benefit such\nservice and shall demonstrate a willingness to cooperate in achieving\npublic and private improvement initiatives.\n 5. Further, all railroads participating in the program are encouraged\nto select projects which complement or build upon railroad projects\nsupported with public funds.\n