S T A T E   O F   N E W   Y O R K
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                                  4240

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2011
                               ___________

Introduced by M. of A. CASTRO -- read once and referred to the Committee
  on Real Property Taxation

AN  ACT  to amend the real property tax law, in relation to creating tax
  abatements for certain commercial properties located within the Kings-
  bridge Armory mall project

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Article 4 of the real property tax law is amended by adding
a new title 3-A to read as follows:
                                 TITLE 3-A
                  TAX ABATEMENT FOR CERTAIN COMMERCIAL
          PROPERTIES LOCATED WITHIN THE KINGSBRIDGE ARMORY MALL
                                 PROJECT
SECTION 496. DEFINITIONS.
        496-A. REAL PROPERTY TAX ABATEMENT.
        496-B. CREDIT TO TENANT.
        496-C. ELIGIBILITY REQUIREMENTS.
        496-D. APPLICATION FOR CERTIFICATE OF ABATEMENT.
        496-E. ENFORCEMENT AND ADMINISTRATION.
        496-F. REPORTING REQUIREMENTS; REVOCATION OF ABATEMENTS.
        496-G. TAX LIEN; INTEREST AND PENALTY.
        496-H. CONFIDENTIALITY.

  S 496. DEFINITIONS. WHEN USED IN THIS TITLE, THE FOLLOWING TERMS SHALL
MEAN OR INCLUDE:
  1.  "ABATEMENT  BASE". THE LESSER OF:  (A) TWO DOLLARS AND FIFTY CENTS
OR (B) FIFTY PER CENTUM OF THE TAX LIABILITY PER SQUARE FOOT.
  2. "ABATEMENT ZONE". ANY AREA LOCATED WITHIN A TWO AND  ONE-HALF  MILE
RADIUS OF THE CONSTRUCTION AREA OF THE KINGSBRIDGE ARMORY MALL PROJECT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03000-01-1

A. 4240                             2
              

  3.  "AGGREGATE  FLOOR AREA". THE SUM OF THE GROSS AREAS OF THE SEVERAL
FLOORS OF A BUILDING, MEASURED FROM THE EXTERIOR FACES OF EXTERIOR WALLS
OR FROM THE CENTER LINES OF WALLS SEPARATING TWO BUILDINGS.
  4. "APPLICANT". THE LANDLORD AND THE TENANT.
  5.  "BENEFIT  PERIOD". THE PERIOD COMMENCING WITH THE FIRST DAY OF THE
MONTH IMMEDIATELY FOLLOWING THE RENT COMMENCEMENT DATE  AND  TERMINATING
NO LATER THAN SIXTY MONTHS THEREAFTER.
  6.  "BILLABLE  ASSESSED VALUE". THE LESSER OF THE TAXABLE TRANSITIONAL
OR THE TAXABLE ACTUAL ASSESSED VALUE OF THE ELIGIBLE  BUILDING  AND  THE
LAND  ON  WHICH  THE ELIGIBLE BUILDING IS LOCATED FOR THE FISCAL YEAR IN
WHICH THE BENEFIT PERIOD COMMENCES, AS COMPUTED PURSUANT TO  SUBDIVISION
THREE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS CHAPTER.
  7.  "DEPARTMENT  OF FINANCE". THE DEPARTMENT OF FINANCE OF THE CITY OF
NEW YORK.
  8. "ELIGIBLE BUILDING".    A  NON-RESIDENTIAL  OR  MIXED-USE  BUILDING
LOCATED  IN THE ABATEMENT ZONE. SUCH ELIGIBLE BUILDING SHALL NOT INCLUDE
ANY BUILDING OWNED BY A GOVERNMENTAL AGENCY.
  9.   "ELIGIBLE PREMISES". PREMISES LOCATED  IN  AN  ELIGIBLE  BUILDING
WHICH  ARE  OCCUPIED  OR USED BY A BUSINESS THAT (A) HAS BEEN CONDUCTING
BUSINESS OPERATIONS AND ENGAGING PRIMARILY IN RETAIL ACTIVITIES,  ENTER-
TAINMENT, OR RESTAURANT SERVICES DURING THE FIVE CONSECUTIVE YEARS PRIOR
TO  THE  RENT COMMENCEMENT DATE; (B) WILL BE ENGAGED PRIMARILY IN RETAIL
ACTIVITIES, ENTERTAINMENT, OR RESTAURANT SERVICES AT SUCH ELIGIBLE PREM-
ISES; AND (C) WHO HAS FEWER THAN ONE HUNDRED  TWENTY-FIVE  EMPLOYEES  IN
THE INITIAL TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED.
  10.  "FISCAL YEAR". THE FISCAL YEAR OF ANY CITY HAVING A POPULATION OF
ONE MILLION OR MORE.
  11. "GOVERNMENTAL AGENCY". THE UNITED STATES OF AMERICA OR ANY  AGENCY
OR INSTRUMENTALITY THEREOF, THE STATE OF NEW YORK, THE CITY OF NEW YORK,
ANY  PUBLIC  CORPORATION (INCLUDING A BODY CORPORATE AND POLITIC CREATED
PURSUANT TO AGREEMENT OR COMPACT BETWEEN THE STATE OF NEW YORK  AND  ANY
OTHER  STATE),  PUBLIC  BENEFIT  CORPORATION,  PUBLIC AUTHORITY OR OTHER
POLITICAL SUBDIVISION OF THE STATE.
  12. "LANDLORD". ANY PERSON WHO:    (A)  CONTROLS  ALL  NON-RESIDENTIAL
PORTIONS  OF  AN  ELIGIBLE  BUILDING, INCLUDING, WITHOUT LIMITATION, THE
RECORD OWNER,  THE  LESSEE  UNDER  A  GROUND  LEASE,  ANY  MORTGAGEE  IN
POSSESSION OR ANY RECEIVER; AND
  (B)  WHO  GRANTS  THE  RIGHT TO USE OR OCCUPY ELIGIBLE PREMISES TO ANY
TENANT, PROVIDED THAT LANDLORD SHALL NOT INCLUDE ANY LESSEE WHO  AT  ANY
TIME DURING THE LEASE TERM OCCUPIED OR USED OR OCCUPIES OR USES ANY PART
OF  THE  NON-RESIDENTIAL  PORTIONS OF SUCH ELIGIBLE BUILDING, OTHER THAN
PREMISES OCCUPIED OR USED BY SUCH LESSEE TO PROVIDE RENTAL OR MANAGEMENT
SERVICES TO SUCH BUILDING.
  13. "LEASE COMMENCEMENT DATE". THE DATE SET  FORTH  IN  THE  LEASE  ON
WHICH THE TERM OF THE LEASE COMMENCES.
  14.  "MIXED-USE  BUILDING".  A  BUILDING USED FOR BOTH RESIDENTIAL AND
COMMERCIAL PURPOSES, PROVIDED THAT MORE THAN TWENTY-FIVE PER  CENTUM  OF
THE AGGREGATE FLOOR AREA OF SUCH BUILDING IS USED OR HELD OUT FOR USE AS
COMMERCIAL, COMMUNITY FACILITY OR ACCESSORY USE SPACE.
  15.  "PERSON".  AN INDIVIDUAL, CORPORATION, LIMITED LIABILITY COMPANY,
PARTNERSHIP, ASSOCIATION, AGENCY, TRUST,  ESTATE,  FOREIGN  OR  DOMESTIC
GOVERNMENT OR SUBDIVISION THEREOF, OR OTHER ENTITY.
  16.  "TAX LIABILITY". THE PRODUCT OBTAINED BY MULTIPLYING THE BILLABLE
ASSESSED VALUE FOR THE FISCAL YEAR IN WHICH THE BENEFIT PERIOD COMMENCES
BY THE TAX RATE APPLICABLE TO THE ELIGIBLE BUILDING FOR SUCH FISCAL YEAR

A. 4240                             3

AS SET BY THE LOCAL LEGISLATIVE BODY OF ANY CITY HAVING A POPULATION  OF
ONE MILLION OR MORE.
  17.  "TAX LIABILITY PER SQUARE FOOT". THE TAX LIABILITY DIVIDED BY THE
TOTAL NUMBER OF SQUARE FEET IN THE ELIGIBLE BUILDING, AS LISTED  ON  THE
RECORDS OF THE DEPARTMENT OF FINANCE.
  18.  "TENANT".  A  PERSON  (INCLUDING  ANY SUCCESSORS IN INTEREST) WHO
EXECUTES A LEASE WITH THE LANDLORD FOR THE RIGHT TO OCCUPY  OR  USE  THE
ELIGIBLE  PREMISES AND WHO OCCUPIES OR USES THE ELIGIBLE PREMISES PURSU-
ANT TO SUCH LEASE. TENANT SHALL NOT INCLUDE ANY SUBTENANT.
  19. "TENANT'S  PERCENTAGE  SHARE".  THE  PERCENTAGE  OF  THE  ELIGIBLE
BUILDING'S  AGGREGATE  FLOOR  AREA  ALLOCATED  TO THE ELIGIBLE PREMISES,
WHICH SHALL BE PRESUMED TO BE SUCH PERCENTAGE AS SET FORTH IN THE  LEASE
FOR  THE  ELIGIBLE  PREMISES;  PROVIDED THAT WHERE THE ELIGIBLE PREMISES
INCLUDES EXPANSION PREMISES, THE "TENANT'S PERCENTAGE  SHARE"  SHALL  BE
CALCULATED  ON  THE  BASIS  OF THE PERCENTAGE OF THE ELIGIBLE BUILDING'S
AGGREGATE FLOOR AREA ALLOCATED SOLELY TO THE EXPANSION PREMISES.
  20. "RENEWAL TENANT". A PERSON WHO HAS  AN  EXISTING  LEASE  WITH  THE
LANDLORD AND RENEGOTIATES OR RENEWS SUCH LEASE WITH THE LANDLORD FOR THE
RIGHT TO OCCUPY OR USE THE ELIGIBLE PREMISES.
  S  496-A. REAL PROPERTY TAX ABATEMENT. 1. WITHIN A CITY HAVING A POPU-
LATION OF ONE MILLION OR MORE, ELIGIBLE  BUILDINGS  CONTAINING  ELIGIBLE
PREMISES  SHALL  RECEIVE  AN ABATEMENT OF REAL PROPERTY TAXES DURING THE
BENEFIT PERIOD AS FOLLOWS:
  (A) FOR EACH OF THE FIRST THREE  YEARS  OF  THE  BENEFIT  PERIOD,  THE
ABATEMENT SHALL BE EQUAL TO THE PRODUCT OBTAINED BY:
  (1)  MULTIPLYING THE TENANT'S PERCENTAGE SHARE BY THE NUMBER OF SQUARE
FEET IN THE ELIGIBLE BUILDING, AS LISTED ON THE RECORDS OF  THE  DEPART-
MENT OF FINANCE AND
  (2) MULTIPLYING THE PRODUCT OBTAINED IN SUBPARAGRAPH ONE OF THIS PARA-
GRAPH BY THE ABATEMENT BASE;
  (B)  FOR THE FOURTH YEAR OF THE BENEFIT PERIOD, THE ABATEMENT SHALL BE
EQUAL TO TWO-THIRDS OF THE ABATEMENT IN THE FIRST YEAR  OF  THE  BENEFIT
PERIOD; AND
  (C)  FOR  THE FIFTH YEAR OF THE BENEFIT PERIOD, THE ABATEMENT SHALL BE
EQUAL TO ONE-THIRD OF THE ABATEMENT IN THE FIRST  YEAR  OF  THE  BENEFIT
PERIOD.
  2.  IF,  AS  A  RESULT OF APPLICATION TO THE TAX COMMISSION OR A COURT
ORDER OR ACTION BY THE DEPARTMENT  OF  FINANCE,  THE  BILLABLE  ASSESSED
VALUE IS REDUCED, THE DEPARTMENT OF FINANCE SHALL RECALCULATE THE ABATE-
MENT UTILIZING SUCH REDUCED BILLABLE ASSESSED VALUE. THE AMOUNT EQUAL TO
THE  DIFFERENCE  BETWEEN THE ABATEMENT ORIGINALLY GRANTED AND THE ABATE-
MENT AS SO RECALCULATED SHALL BE  DEDUCTED  FROM  ANY  REFUND  OTHERWISE
PAYABLE  OR  REMISSION  OTHERWISE  DUE  AS A RESULT OF SUCH REDUCTION IN
BILLABLE ASSESSED VALUE, AND ANY BALANCE OF SUCH AMOUNT REMAINING UNPAID
AFTER MAKING ANY SUCH DEDUCTION SHALL  BE  PAID  TO  THE  DEPARTMENT  OF
FINANCE WITHIN THIRTY DAYS FROM THE DATE OF MAILING BY THE DEPARTMENT OF
FINANCE  OF  A  NOTICE  OF THE AMOUNT PAYABLE. SUCH AMOUNT PAYABLE SHALL
CONSTITUTE A TAX LIEN ON THE ELIGIBLE BUILDING AS OF THE  DATE  OF  SUCH
NOTICE  AND,  IF  NOT  PAID  WITHIN  SUCH THIRTY-DAY PERIOD, PENALTY AND
INTEREST AT THE RATE APPLICABLE TO DELINQUENT  TAXES  ON  SUCH  ELIGIBLE
BUILDING  SHALL BE CHARGED AND COLLECTED ON SUCH AMOUNT FROM THE DATE OF
SUCH NOTICE TO THE DATE OF PAYMENT.
  3. IN NO EVENT SHALL THE ABATEMENT FOR THE ELIGIBLE  PREMISES  GRANTED
PURSUANT  TO THIS TITLE EXCEED THE TAX LIABILITY ALLOCABLE TO THE ELIGI-
BLE PREMISES.

A. 4240                             4

  4. NOTWITHSTANDING THE  PROVISIONS  OF  ANY  LEASE  FOR  OCCUPANCY  OF
NON-ELIGIBLE PREMISES IN AN ELIGIBLE BUILDING OR FOR OCCUPANCY OF ELIGI-
BLE  PREMISES  FOR  WHICH  NO  CERTIFICATE  OF ABATEMENT HAS BEEN ISSUED
PURSUANT TO THIS TITLE, A LESSEE OF NON-ELIGIBLE PREMISES OR OF ELIGIBLE
PREMISES  FOR WHICH NO CERTIFICATE OF ABATEMENT HAS BEEN ISSUED PURSUANT
TO THIS TITLE SHALL NOT BE ENTITLED TO RECEIVE DIRECTLY OR INDIRECTLY  A
REDUCTION IN EITHER THE REAL PROPERTY TAXES OR ANY RENT (INCLUDING ADDI-
TIONAL  RENT)  PAYABLE PURSUANT TO SUCH LEASE WHERE SUCH REDUCTION WOULD
RESULT FROM AN ABATEMENT OF REAL PROPERTY TAXES GRANTED PURSUANT TO THIS
TITLE. A LANDLORD OF AN ELIGIBLE BUILDING SHALL  NOT  ALLOCATE,  CREDIT,
ASSIGN  OR DISBURSE ANY PORTION OF AN ABATEMENT GRANTED PURSUANT TO THIS
TITLE TO A LESSEE OF NON-ELIGIBLE PREMISES OR OF ELIGIBLE  PREMISES  FOR
WHICH  NO  CERTIFICATE  OF  ABATEMENT  HAS  BEEN ISSUED PURSUANT TO THIS
TITLE. A LANDLORD SHALL NOT BE REQUIRED  TO  REDUCE  THE  REAL  PROPERTY
TAXES  OR  ANY  RENT  (INCLUDING  ADDITIONAL  RENT) PAYABLE BY EXPANSION
TENANTS, NEW TENANTS AND RENEWAL TENANTS BY AN AMOUNT THAT  EXCEEDS  THE
FULL AMOUNT OF THE ABATEMENT GRANTED PURSUANT TO THIS TITLE, BUT A LAND-
LORD  SHALL  BE  REQUIRED  TO REDUCE THE REAL PROPERTY TAXES OR ANY RENT
(INCLUDING ADDITIONAL RENT) PAYABLE BY EXPANSION  TENANTS,  NEW  TENANTS
AND RENEWAL TENANTS BY AN AMOUNT THAT, IN THE AGGREGATE, EQUALS THE FULL
AMOUNT  OF  THE ABATEMENT GRANTED PURSUANT TO THIS TITLE. SUCH REDUCTION
SHALL BE ALLOCATED IN ACCORDANCE WITH  THE  ABATEMENT  GRANTED  FOR  THE
ELIGIBLE PREMISES OCCUPIED BY EACH SUCH TENANT.
  S  496-B.    CREDIT  TO  TENANT.  THE ABATEMENT IN REAL PROPERTY TAXES
GRANTED BY THIS TITLE FOR THE PREMISES SHALL BE CREDITED BY THE LANDLORD
AGAINST THE PROPORTIONAL AMOUNT OF TAXES CHARGEABLE TO A TENANT  IN  THE
FORM OF RENT.
  S 496-C. ELIGIBILITY  REQUIREMENTS.  1.  NO ABATEMENT SHALL BE GRANTED
PURSUANT TO THIS TITLE UNLESS THE LANDLORD  IS  PARTY  TO  A  LEASE  FOR
ELIGIBLE  PREMISES WITH A TENANT OR RENEWAL TENANT, THE TERM OF WHICH IS
FOR A PERIOD OF AT LEAST FIVE YEARS, AND THE TENANT OR RENEWAL TENANT:
  (A) HAS BEEN CONDUCTING BUSINESS OPERATIONS AND ENGAGING PRIMARILY  IN
RETAIL ACTIVITIES, ENTERTAINMENT, OR RESTAURANT SERVICES AT THE ELIGIBLE
PREMISES  DURING  THE FIVE CONSECUTIVE YEARS PRIOR TO THE RENT COMMENCE-
MENT DATE;
  (B) WILL BE ENGAGED PRIMARILY IN RETAIL ACTIVITIES, ENTERTAINMENT,  OR
RESTAURANT SERVICES AT SUCH ELIGIBLE PREMISES; AND
  (C)  WHO  HAS  FEWER  THAN  ONE  HUNDRED  TWENTY-FIVE EMPLOYEES IN THE
INITIAL TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED.
  2. NO ABATEMENT SHALL BE GRANTED PURSUANT TO THIS TITLE IF  AN  APPLI-
CANT  SHALL  FAIL  TO  MEET ANY OF THE REQUIREMENTS OF THIS TITLE WITHIN
SIXTY DAYS OF THE RENT COMMENCEMENT DATE.
  3. FOR PURPOSES OF THIS TITLE, THE EXPIRATION DATE OF A LEASE SHALL BE
DETERMINED BY THE EXPIRATION DATE  SET  FORTH  IN  SUCH  LEASE,  WITHOUT
GIVING  EFFECT  TO ANY RIGHTS OF THE LANDLORD OR THE TENANT TO TERMINATE
SUCH LEASE PRIOR TO THE EXPIRATION DATE SET FORTH IN SUCH LEASE.
  4. THE LEASE FOR THE ELIGIBLE PREMISES OR AN AMENDMENT  THERETO  SHALL
CONTAIN THE FOLLOWING PROVISIONS:
  (A) A STATEMENT OF THE TENANT'S PERCENTAGE SHARE;
  (B)  A  STATEMENT  INFORMING  THE TENANT IN AT LEAST TWELVE-POINT TYPE
THAT:
  (1) AN APPLICATION FOR ABATEMENT OF REAL PROPERTY  TAXES  PURSUANT  TO
THIS TITLE WILL BE MADE FOR THE PREMISES;
  (2)  THE  RENT,  INCLUDING  AMOUNTS  PAYABLE  BY THE TENANT OR RENEWAL
TENANT FOR REAL PROPERTY TAXES, WILL ACCURATELY REFLECT ANY ABATEMENT OF
REAL PROPERTY TAXES GRANTED PURSUANT TO THIS TITLE FOR THE PREMISES; AND

A. 4240                             5

  (3) ALL ABATEMENTS GRANTED WITH RESPECT TO A BUILDING PURSUANT TO THIS
TITLE WILL BE REVOKED IF, DURING THE BENEFIT PERIOD, REAL  ESTATE  TAXES
OR  WATER OR SEWER CHARGES OR OTHER LIENABLE CHARGES ARE UNPAID FOR MORE
THAN ONE YEAR, UNLESS SUCH DELINQUENT AMOUNTS ARE PAID  AS  PROVIDED  IN
SUBDIVISION FOUR OF SECTION FOUR HUNDRED NINETY-SIX-F OF THIS TITLE.
  5. NO ABATEMENT SHALL BE GRANTED PURSUANT TO THIS TITLE IF:
  (A)  THE  LEASE  FOR  THE  ELIGIBLE  PREMISES PROVIDES THAT DURING THE
CURRENT LEASE TERM REQUIRED BY SUBDIVISION ONE OF  THIS  SECTION  EITHER
THE  LANDLORD  OR  THE TENANT OR RENEWAL TENANT MAY TERMINATE SUCH LEASE
PRIOR TO THE EXPIRATION DATE OF SUCH  LEASE  TERM;  PROVIDED  THAT  SUCH
LEASE  MAY  PROVIDE THAT EITHER THE LANDLORD OR THE TENANT MAY TERMINATE
SUCH LEASE IF:
  (1) THE OTHER PARTY IS IN DEFAULT OF ANY OF SUCH  PARTY'S  OBLIGATIONS
UNDER THE LEASE,
  (2)  THE  ELIGIBLE  PREMISES ARE DAMAGED OR DESTROYED BY FIRE OR OTHER
CASUALTY,
  (3) THE ELIGIBLE PREMISES ARE RENDERED UNUSABLE  FOR  ANY  REASON  NOT
ATTRIBUTABLE  TO ANY ACT OR FAILURE TO ACT OF EITHER TENANT OR LANDLORD,
OR
  (4) THE ELIGIBLE PREMISES ARE ACQUIRED BY EMINENT DOMAIN; AND
  (B) THERE ARE REAL PROPERTY TAXES, WATER OR  SEWER  CHARGES  OR  OTHER
LIENABLE  CHARGES CURRENTLY DUE AND OWING ON THE ELIGIBLE BUILDING WHICH
IS THE SUBJECT OF AN APPLICATION FOR ABATEMENT PURSUANT TO  THIS  TITLE,
UNLESS  SUCH  REAL PROPERTY TAXES OR CHARGES ARE CURRENTLY BEING PAID IN
TIMELY INSTALLMENTS PURSUANT TO A WRITTEN AGREEMENT WITH THE  DEPARTMENT
OF FINANCE OR OTHER APPROPRIATE AGENCY.
  6.  NO  ABATEMENT  SHALL  BE GRANTED PURSUANT TO THIS TITLE UNLESS THE
APPLICANT SHALL  FILE,  TOGETHER  WITH  THE  APPLICATION,  AN  AFFIDAVIT
SETTING FORTH THE FOLLOWING INFORMATION:
  (A)  A STATEMENT THAT WITHIN THE SEVEN YEARS IMMEDIATELY PRECEDING THE
DATE OF APPLICATION FOR A CERTIFICATE OF ABATEMENT, NEITHER  THE  APPLI-
CANT NOR ANY PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE BUILD-
ING  AS  DEFINED  IN PARAGRAPH (C) OF THIS SUBDIVISION, NOR ANY OFFICER,
DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR SUCH PERSON WAS  FINALLY
ADJUDICATED  BY  A  COURT  OF  COMPETENT  JURISDICTION  TO HAVE VIOLATED
SECTION TWO HUNDRED THIRTY-FIVE OF THE REAL PROPERTY LAW OR ANY  SECTION
OF  ARTICLE  ONE HUNDRED FIFTY OF THE PENAL LAW OR ANY SIMILAR ARSON LAW
OF ANOTHER JURISDICTION WITH RESPECT TO ANY BUILDING, OR WAS AN OFFICER,
DIRECTOR OR GENERAL PARTNER OF A PERSON AT  THE  TIME  SUCH  PERSON  WAS
FINALLY ADJUDICATED TO HAVE VIOLATED ANY SUCH LAW; AND
  (B)  A  STATEMENT SETTING FORTH ANY PENDING CHARGES ALLEGING VIOLATION
OF SECTION TWO HUNDRED THIRTY-FIVE OF  THE  REAL  PROPERTY  LAW  OR  ANY
SECTION  OF  ARTICLE  ONE  HUNDRED FIFTY OF THE PENAL LAW OR ANY SIMILAR
ARSON LAW OF ANOTHER JURISDICTION WITH RESPECT TO ANY  BUILDING  BY  THE
APPLICANT  OR  ANY  PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE
BUILDING AS DEFINED IN PARAGRAPH (C) OF THIS SUBDIVISION, OR  ANY  OFFI-
CER, DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR SUCH PERSON, OR ANY
PERSON FOR WHOM THE APPLICANT OR PERSON OWNING A SUBSTANTIAL INTEREST IN
THE ELIGIBLE BUILDING IS AN OFFICER, DIRECTOR OR GENERAL PARTNER.
  (C)  FOR PURPOSES OF THIS SUBDIVISION AND SUBDIVISION SEVEN OF SECTION
FOUR HUNDRED NINETY-SIX-F OF THIS TITLE,  "SUBSTANTIAL  INTEREST"  SHALL
MEAN  OWNERSHIP  AND CONTROL OF AN INTEREST OF TEN PER CENTUM OR MORE IN
THE ELIGIBLE BUILDING OR IN ANY PERSON OWNING THE ELIGIBLE BUILDING.
  S 496-D. APPLICATION FOR CERTIFICATE OF ABATEMENT. 1. APPLICATION  FOR
A  CERTIFICATE  OF  ABATEMENT MAY BE MADE ON OR AFTER JANUARY FIRST, TWO
THOUSAND TWELVE AND UNTIL SIXTY DAYS AFTER THE END  OF  THE  ELIGIBILITY

A. 4240                             6

PERIOD,  AND  SHALL BE FILED WITH THE DEPARTMENT OF FINANCE. NO APPLICA-
TION MAY BE FILED PRIOR TO THE DATE ON WHICH THE LEASE FOR THE  ELIGIBLE
PREMISES IS EXECUTED BY THE LANDLORD AND TENANT.
  2.  NO  ABATEMENT  PURSUANT  TO THIS TITLE SHALL BE GRANTED UNLESS THE
APPLICANT FILES AN APPLICATION FOR A  CERTIFICATE  OF  ABATEMENT  WITHIN
SIXTY  DAYS  FOLLOWING  THE LEASE COMMENCEMENT DATE OR WITHIN SIXTY DAYS
FOLLOWING THE EFFECTIVE DATE OF THIS TITLE, WHICHEVER IS LATER.
  3. IN ADDITION TO ANY OTHER INFORMATION REQUIRED BY THE DEPARTMENT  OF
FINANCE, THE APPLICATION FOR A CERTIFICATE OF ABATEMENT SHALL INCLUDE AN
ABSTRACT  OF  THE LEASE FOR THE ELIGIBLE PREMISES FOR WHICH AN ABATEMENT
IS BEING SOUGHT WHICH ABSTRACT IS SIGNED BY THE LANDLORD AND THE TENANT.
SUCH ABSTRACT SHALL INCLUDE THE TENANT'S  PERCENTAGE  SHARE,  THE  LEASE
COMMENCEMENT  DATE, THE EXPIRATION DATE FOR SUCH LEASE AND A DESCRIPTION
OF THE IMPROVEMENTS TO BE MADE TO THE ELIGIBLE PREMISES AND  THE  COMMON
AREAS  OF  THE  ELIGIBLE BUILDING, INCLUDING THE ESTIMATED VALUE OF SUCH
IMPROVEMENTS. SUCH APPLICATION SHALL ALSO INCLUDE:
  (A) A STATEMENT OF THE  NUMBER  OF  PERSONS  WHO  WERE,  ON  THE  RENT
COMMENCEMENT DATE, EMPLOYED IN THE ELIGIBLE PREMISES,
  (B)  A  STATEMENT OF THE LOCATION OF ALL COMMERCIAL OR RETAIL SPACE IN
THE CITY OF NEW YORK OCCUPIED BY THE TENANT PRIOR TO  THE  EXECUTION  OF
THE LEASE FOR THE ELIGIBLE PREMISES,
  (C)  THE  COMMENCEMENT AND EXPIRATION DATES OF ALL LEASES FOR PREMISES
IN THE ABATEMENT ZONE USED OR OCCUPIED AS OFFICE OR RETAIL SPACE, AND
  (D) THE AGGREGATE FLOOR AREA OF THE ELIGIBLE BUILDING.  SUCH  APPLICA-
TION  SHALL  ALSO  STATE THAT THE APPLICANT AGREES TO COMPLY WITH AND BE
SUBJECT TO THE RULES ISSUED FROM TIME  TO  TIME  BY  THE  DEPARTMENT  OF
FINANCE.
  4.  THE  APPLICANT SHALL PROVIDE, IN ADDITION TO ANY OTHER INFORMATION
REQUIRED BY THE  DEPARTMENT  OF  FINANCE,  EVIDENCE  ACCEPTABLE  TO  THE
DEPARTMENT  OF FINANCE REGARDING THE NUMBER OF EMPLOYEES IN THE ELIGIBLE
PREMISES. THE DEPARTMENT OF FINANCE SHALL ISSUE A CERTIFICATE OF  ABATE-
MENT  UPON DETERMINING THAT THE APPLICANT HAS SUBMITTED PROOF ACCEPTABLE
TO THE DEPARTMENT OF FINANCE THAT THE APPLICANT HAS MET THE REQUIREMENTS
SET FORTH IN THIS TITLE.
  5. THE BURDEN OF PROOF SHALL BE ON THE APPLICANT TO SHOW BY CLEAR  AND
CONVINCING  EVIDENCE THAT THE REQUIREMENTS FOR GRANTING A CERTIFICATE OF
ABATEMENT HAVE BEEN SATISFIED. THE DEPARTMENT OF FINANCE SHALL HAVE  THE
AUTHORITY TO REQUIRE THAT STATEMENTS IN CONNECTION WITH SUCH APPLICATION
BE MADE UNDER OATH.
  6. THE DEPARTMENT OF FINANCE MAY PROVIDE BY RULE FOR REASONABLE ADMIN-
ISTRATIVE  CHARGES OR FEES NECESSARY TO DEFRAY EXPENSES IN ADMINISTERING
THE ABATEMENT PROGRAM PROVIDED BY THIS TITLE.
  S 496-E. ENFORCEMENT AND ADMINISTRATION.  THE  DEPARTMENT  OF  FINANCE
SHALL  HAVE, IN ADDITION TO ANY OTHER FUNCTIONS, POWERS AND DUTIES WHICH
HAVE BEEN OR MAY BE CONFERRED ON IT BY  LAW,  THE  FOLLOWING  FUNCTIONS,
POWERS AND DUTIES:
  1.  TO  RECEIVE  AND REVIEW APPLICATIONS FOR CERTIFICATES OF ABATEMENT
UNDER THIS TITLE AND ISSUE SUCH CERTIFICATES WHERE  AUTHORIZED  PURSUANT
TO THIS TITLE.
  2. TO RECEIVE EVIDENCE OF PREMISES AND BUILDING ELIGIBILITY.
  3.  TO  RECEIVE ALL CERTIFICATES OF CONTINUING ELIGIBILITY REQUIRED BY
SECTION FOUR HUNDRED NINETY-SIX-F OF THIS TITLE.
  4. TO COLLECT ALL REAL PROPERTY TAXES, WITH INTEREST AND PENALTY,  DUE
AND  OWING  AS  A  RESULT OF REDUCTION, TERMINATION OR REVOCATION OF ANY
ABATEMENT GRANTED PURSUANT TO THIS TITLE.

A. 4240                             7

  5. TO MAKE AND PROMULGATE RULES TO CARRY  OUT  THE  PURPOSES  OF  THIS
TITLE.
  S  496-F. REPORTING REQUIREMENTS; REVOCATION OF ABATEMENTS. 1. FOR THE
DURATION OF THE APPLICANT'S BENEFIT PERIOD,  THE  APPLICANT  SHALL  FILE
ANNUALLY WITH THE DEPARTMENT OF FINANCE, ON OR BEFORE JULY FIRST OF EACH
YEAR, A CERTIFICATE OF CONTINUING ELIGIBILITY CONFIRMING THAT THE ELIGI-
BLE  PREMISES  ARE  OCCUPIED  BY  THE TENANT WHO ORIGINALLY EXECUTED THE
LEASE AND THAT THE ELIGIBLE PREMISES ARE BEING  USED  FOR  THE  PURPOSES
DESCRIBED IN THE APPLICATION. SUCH CERTIFICATE OF CONTINUING ELIGIBILITY
SHALL  BE  ON  A  FORM PRESCRIBED BY THE DEPARTMENT OF FINANCE AND SHALL
CONTAIN SUCH ADDITIONAL INFORMATION AS THE DEPARTMENT OF  FINANCE  SHALL
REQUIRE. THE DEPARTMENT OF FINANCE SHALL HAVE THE AUTHORITY TO DETERMINE
THE  ABATEMENTS GRANTED PURSUANT TO THIS TITLE UPON FAILURE OF AN APPLI-
CANT TO FILE SUCH CERTIFICATE BY SUCH DATE. THE BURDEN OF PROOF SHALL BE
ON THE APPLICANT 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.
  2. THE DEPARTMENT OF FINANCE SHALL REVOKE ANY ABATEMENT GRANTED PURSU-
ANT TO THIS TITLE WHEN THE TENANT WHO ORIGINALLY EXECUTED THE  LEASE  IS
NO  LONGER  OCCUPYING  THE  ELIGIBLE  PREMISES. SUCH REVOCATION SHALL BE
RETROACTIVE TO THE DATE THAT SUCH TENANT VACATED THE  ELIGIBLE  PREMISES
AND  THE  DEPARTMENT  OF FINANCE SHALL REQUIRE THE LANDLORD TO PAY, WITH
INTEREST, ANY TAXES WHICH BECOME PAYABLE AS A RESULT OF SUCH REVOCATION.
THE LANDLORD SHALL NOTIFY THE DEPARTMENT OF FINANCE WITHIN  THIRTY  DAYS
FOLLOWING  THE  DATE  ON WHICH SUCH TENANT VACATED THE ELIGIBLE PREMISES
AND, FOR FAILURE TO COMPLY WITH THIS NOTIFICATION REQUIREMENT, SHALL  BE
LIABLE  FOR PENALTY CALCULATED FOR THE SAME PERIOD AS INTEREST IS CALCU-
LATED PURSUANT TO THE PRECEDING SENTENCE.
  3. IF ANY PORTION OF THE PREMISES FOR  WHICH  AN  ABATEMENT  HAS  BEEN
GRANTED PURSUANT TO THIS TITLE CEASES TO BE OCCUPIED OR USED AS ELIGIBLE
PREMISES  OR IS OCCUPIED BY A SUBTENANT, THE DEPARTMENT OF FINANCE SHALL
REDUCE THE ABATEMENT GRANTED PURSUANT TO THIS TITLE BY AN  AMOUNT  EQUAL
TO THE PERCENTAGE OF SUCH ELIGIBLE PREMISES WHICH HAS CEASED TO BE OCCU-
PIED  OR  USED AS ELIGIBLE PREMISES OR IS OCCUPIED BY A SUBTENANT.  SUCH
REDUCTION SHALL BE RETROACTIVE TO THE DATE THAT SUCH PREMISES CEASED  TO
BE OCCUPIED OR USED AS ELIGIBLE PREMISES OR WAS OCCUPIED BY A SUBTENANT,
AND  THE  DEPARTMENT  OF FINANCE SHALL REQUIRE THE LANDLORD TO PAY, WITH
INTEREST, ANY TAXES WHICH BECOME PAYABLE AS A RESULT OF SUCH  REDUCTION.
THE  LANDLORD  SHALL NOTIFY THE DEPARTMENT OF FINANCE WITHIN THIRTY DAYS
FOLLOWING THE DATE ON WHICH THE PREMISES CEASED TO BE OCCUPIED  OR  USED
AS  ELIGIBLE PREMISES OR WAS OCCUPIED BY A SUBTENANT AND, FOR FAILURE TO
COMPLY WITH THIS NOTIFICATION REQUIREMENT, SHALL BE LIABLE  FOR  PENALTY
CALCULATED  FOR  THE  SAME  PERIOD AS INTEREST IS CALCULATED PURSUANT TO
THIS SUBDIVISION.
  4. IF, DURING THE BENEFIT PERIOD, ANY REAL PROPERTY TAX  OR  WATER  OR
SEWER CHARGE OR OTHER LIENABLE CHARGE DUE AND PAYABLE WITH RESPECT TO AN
ELIGIBLE  BUILDING  SHALL  REMAIN UNPAID FOR AT LEAST ONE YEAR FOLLOWING
THE DATE UPON WHICH SUCH TAX OR  CHARGE  BECAME  DUE  AND  PAYABLE,  ALL
ABATEMENTS  GRANTED PURSUANT TO THIS TITLE WITH RESPECT TO SUCH BUILDING
SHALL BE REVOKED, UNLESS WITHIN THIRTY DAYS FROM THE MAILING OF A NOTICE
OF REVOCATION  BY  THE  DEPARTMENT  OF  FINANCE  SATISFACTORY  PROOF  IS
PRESENTED TO THE DEPARTMENT OF FINANCE THAT ANY AND ALL DELINQUENT TAXES
AND  CHARGES  OWING WITH RESPECT TO SUCH BUILDING AS OF THE DATE OF SUCH
NOTICE HAVE BEEN PAID IN FULL OR ARE  CURRENTLY  BEING  PAID  IN  TIMELY
INSTALLMENTS  PURSUANT  TO  A  WRITTEN  AGREEMENT WITH THE DEPARTMENT OF
FINANCE OR OTHER APPROPRIATE AGENCY.   ANY REVOCATION PURSUANT  TO  THIS

A. 4240                             8

SUBDIVISION SHALL BE EFFECTIVE WITH RESPECT TO REAL PROPERTY TAXES WHICH
BECOME DUE AND PAYABLE FOLLOWING THE DATE OF SUCH REVOCATION.
  5.  THE  DEPARTMENT OF FINANCE MAY DENY, REDUCE, SUSPEND, TERMINATE OR
REVOKE ANY ABATEMENT GRANTED PURSUANT TO THIS TITLE WHENEVER:
  (A) THE LANDLORD OR THE TENANT RECEIVING ABATEMENT  PURSUANT  TO  THIS
TITLE  FAILS  TO COMPLY WITH THE REQUIREMENTS OF THIS TITLE OR THE RULES
PROMULGATED HEREUNDER; OR
  (B) AN APPLICATION, CERTIFICATE, REPORT OR OTHER DOCUMENT SUBMITTED BY
THE APPLICANT CONTAINS A FALSE OR MISLEADING STATEMENT AS TO A  MATERIAL
FACT  OR OMITS TO STATE ANY MATERIAL FACT NECESSARY IN ORDER TO MAKE THE
STATEMENT THEREIN NOT FALSE OR MISLEADING, AND MAY DECLARE ANY APPLICANT
WHO MAKES SUCH FALSE OR MISLEADING STATEMENT OR OMISSION TO BE  INELIGI-
BLE  FOR  FUTURE  ABATEMENT PURSUANT TO THIS TITLE FOR THE SAME OR OTHER
PROPERTY. IN ADDITION, THE  DEPARTMENT  OF  FINANCE  SHALL  REQUIRE  THE
APPLICANT  TO  PAY,  WITH  PENALTY  AND INTEREST, ANY ABATEMENT RECEIVED
PURSUANT TO THIS TITLE AS A RESULT OF SUCH FALSE OR MISLEADING STATEMENT
OR OMISSION OF A MATERIAL FACT.
  6. NOTWITHSTANDING ANY OTHER PROVISION OF THIS TITLE,  THE  DEPARTMENT
OF  FINANCE SHALL DENY, TERMINATE OR REVOKE ANY ABATEMENT APPLIED FOR OR
GRANTED PURSUANT TO THIS TITLE  UPON  A  DETERMINATION  THAT  THE  LEASE
BETWEEN  THE  LANDLORD AND THE TENANT WAS ENTERED INTO PRIMARILY FOR THE
PURPOSE OF RECEIVING AN ABATEMENT  UNDER  THIS  TITLE.  IN  MAKING  SUCH
DETERMINATION,  THE  DEPARTMENT  OF  FINANCE  MAY  CONSIDER, AMONG OTHER
FACTORS, THE RELATIONSHIP, IF ANY, BETWEEN THE LANDLORD AND  THE  TENANT
AND  WHETHER  THE  BUSINESS  TERMS OF SUCH LEASE ARE CONSISTENT WITH THE
BUSINESS TERMS GENERALLY FOUND IN LEASES FOR COMPARABLE SPACE.
  7. (A) IF ANY PERSON DESCRIBED IN THE STATEMENT REQUIRED BY  PARAGRAPH
(B)  OF  SUBDIVISION  SIX  OF  SECTION FOUR HUNDRED NINETY-SIX-C OF THIS
TITLE OR PARAGRAPH (B) OF THIS SUBDIVISION IS FINALLY ADJUDICATED  BY  A
COURT  OF  COMPETENT  JURISDICTION  TO BE GUILTY OF ANY CHARGE LISTED IN
SUCH STATEMENT, THE DEPARTMENT OF FINANCE  SHALL  REVOKE  THE  ABATEMENT
GRANTED  PURSUANT  TO  THIS  TITLE  AND  SHALL REQUIRE THE PAYMENT, WITH
INTEREST, OF ANY ABATEMENT RECEIVED PURSUANT TO THIS TITLE.
  (B) THE APPLICANT SHALL, ON THE CERTIFICATE OF CONTINUING ELIGIBILITY,
STATE WHETHER ANY CHARGES ALLEGING VIOLATION BY  THE  APPLICANT  OR  ANY
PERSON  OWNING  A  SUBSTANTIAL INTEREST IN THE ELIGIBLE BUILDING, OR ANY
OFFICER, DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR PERSON OWNING A
SUBSTANTIAL INTEREST IN THE ELIGIBLE BUILDING, OR ANY  PERSON  FOR  WHOM
THE  APPLICANT  OR  PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE
BUILDING IS AN OFFICER, DIRECTOR OR  GENERAL  PARTNER,  OF  SECTION  TWO
HUNDRED  THIRTY-FIVE  OF THE REAL PROPERTY LAW OR ANY SECTION OF ARTICLE
ONE HUNDRED FIFTY OF THE PENAL LAW OR ANY SIMILAR ARSON LAW  OF  ANOTHER
JURISDICTION,  ARE PENDING. FOR PURPOSES OF THIS PARAGRAPH, "SUBSTANTIAL
INTEREST" SHALL HAVE THE SAME MEANING AS SET FORTH IN PARAGRAPH  (C)  OF
SUBDIVISION SIX OF SECTION FOUR HUNDRED NINETY-SIX-C OF THIS TITLE.
  S  496-G.  TAX  LIEN;  INTEREST AND PENALTY. ALL TAXES, WITH INTEREST,
REQUIRED TO BE PAID RETROACTIVELY PURSUANT TO THIS TITLE  SHALL  CONSTI-
TUTE  A TAX LIEN AS OF THE DATE IT IS DETERMINED SUCH TAXES AND INTEREST
ARE OWED. ALL INTEREST SHALL BE CALCULATED FROM THE DATE THE TAXES WOULD
HAVE BEEN DUE BUT FOR THE ABATEMENT GRANTED PURSUANT TO  THIS  TITLE  AT
THE  APPLICABLE RATE OR RATES OF INTEREST IMPOSED BY SUCH CITY GENERALLY
FOR NON-PAYMENT OF REAL PROPERTY TAX WITH RESPECT TO THE ELIGIBLE BUILD-
ING FOR THE PERIOD IN QUESTION. WHEN A PROVISION OF THIS TITLE  REQUIRES
THE  PAYMENT  OF  A  PENALTY IN ADDITION TO INTEREST, THE AMOUNT OF SUCH
PENALTY SHALL BE EQUAL TO THE AMOUNT OF INTEREST THAT  WOULD  HAVE  BEEN

A. 4240                             9

PAYABLE  PURSUANT TO SUCH PROVISION HAD SUCH INTEREST BEEN CALCULATED AT
THE RATE OF THREE PERCENT PER ANNUM.
  S  496-H. CONFIDENTIALITY. 1. EXCEPT IN ACCORDANCE WITH A PROPER JUDI-
CIAL ORDER OR AS OTHERWISE PROVIDED BY LAW, IT SHALL BE UNLAWFUL FOR THE
COMMISSIONER OF FINANCE, ANY OFFICER OR EMPLOYEE OF  THE  DEPARTMENT  OF
FINANCE,  THE PRESIDENT OR A COMMISSIONER OR EMPLOYEE OF THE TAX COMMIS-
SION, ANY PERSON ENGAGED OR RETAINED BY SUCH DEPARTMENT OR SUCH  COMMIS-
SION  ON  AN  INDEPENDENT CONTRACT BASIS, OR ANY PERSON WHO, PURSUANT TO
THIS TITLE, IS PERMITTED TO INSPECT  ANY  INFORMATION  SUBMITTED  BY  AN
APPLICANT TO THE DEPARTMENT OF FINANCE PURSUANT TO THIS TITLE OR TO WHOM
A  COPY,  AN ABSTRACT OR A PORTION OF ANY SUCH INFORMATION IS FURNISHED,
TO DIVULGE OR MAKE KNOWN IN ANY  MANNER  ANY  SUCH  INFORMATION  TO  ANY
PERSON  NOT  AUTHORIZED  PURSUANT TO THIS TITLE TO INSPECT SUCH INFORMA-
TION. THE OFFICERS CHARGED WITH CUSTODY OF SUCH INFORMATION SHALL NOT BE
REQUIRED TO PRODUCE ANY OF IT OR EVIDENCE OF ANYTHING CONTAINED IN IT IN
ANY ACTION OR PROCEEDING IN ANY COURT EXCEPT ON BEHALF  OF  THE  COMMIS-
SIONER  OF  FINANCE  IN  AN ACTION OR PROCEEDING UNDER THE PROVISIONS OF
THIS TITLE, OR ON BEHALF OF ANY PARTY TO ANY ACTION OR PROCEEDING  UNDER
THE PROVISIONS OF THIS TITLE WHEN SUCH INFORMATION OR FACTS SHOWN THERE-
BY    ARE  DIRECTLY  INVOLVED IN SUCH ACTION OR PROCEEDING, IN EITHER OF
WHICH EVENTS THE COURT MAY REQUIRE THE PRODUCTION OF, AND MAY  ADMIT  IN
EVIDENCE  SO  MUCH OF SUCH INFORMATION OR OF THE FACTS SHOWN THEREBY, AS
ARE PERTINENT TO THE ACTION OR PROCEEDING AND NO  MORE.  NOTHING  HEREIN
SHALL  BE  CONSTRUED  TO  PROHIBIT THE INSPECTION BY THE LEGAL REPRESEN-
TATIVES OF THE DEPARTMENT OF FINANCE  OR  THE  TAX  COMMISSION  OF  SUCH
INFORMATION  SUBMITTED  BY  ANY  APPLICANT  WHO SHALL BRING AN ACTION TO
CORRECT AN ASSESSMENT.  NOTHING HEREIN SHALL BE  CONSTRUED  TO  PROHIBIT
THE  DELIVERY  TO AN APPLICANT OR THE APPLICANT'S DULY AUTHORIZED REPRE-
SENTATIVE OF A CERTIFIED COPY OF ANY INFORMATION SUBMITTED BY AN  APPLI-
CANT  TO  THE  DEPARTMENT  OF  FINANCE PURSUANT TO THIS TITLE; OR TO ANY
AGENCY OR ANY DEPARTMENT OF ANY CITY HAVING A POPULATION OF ONE  MILLION
OR  MORE  PROVIDED  THE  SAME IS REQUESTED FOR OFFICIAL BUSINESS; NOR TO
PROHIBIT THE INSPECTION FOR OFFICIAL BUSINESS OF SUCH INFORMATION BY THE
CORPORATION COUNSEL OR OTHER LEGAL REPRESENTATIVES OF A  CITY  HAVING  A
POPULATION    OF  ONE MILLION OR MORE OR BY THE DISTRICT ATTORNEY OF ANY
COUNTY WITHIN SUCH CITY; NOR TO PROHIBIT THE PUBLICATION  OF  STATISTICS
SO  CLASSIFIED  AS  TO PREVENT THE IDENTIFICATION OF SUCH INFORMATION OR
PARTICULAR ITEMS THEREOF. INFORMATION SUBMITTED BY AN APPLICANT  TO  THE
DEPARTMENT  OF  FINANCE  PURSUANT  TO THIS TITLE SHALL NOT BE SUBJECT TO
DISCLOSURE PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
  2. ANY VIOLATION OF THE PROVISIONS OF SUBDIVISION ONE OF THIS  SECTION
SHALL  BE  PUNISHED  BY  A FINE NOT EXCEEDING ONE THOUSAND DOLLARS OR BY
IMPRISONMENT NOT EXCEEDING ONE YEAR, OR BOTH, AT THE DISCRETION  OF  THE
COURT,  AND  IF THE OFFENDER BE AN OFFICER OR EMPLOYEE OF THE DEPARTMENT
OF FINANCE OR OF THE TAX COMMISSION, THE  OFFENDER  SHALL  BE  DISMISSED
FROM OFFICE.
  S  2.  This  act shall take effect immediately, provided that this act
shall be deemed to have been in full force and effect on and after Janu-
ary 1, 2011. Any actions, including the promulgation of rules, necessary
to carry out the purposes of this act may be taken before the date  this
act  shall  have  become  a law, provided that such rules shall not take
effect before the effective date of this act, and provided further  that
such  rules,  if necessary to carry out the purposes of this act, may be
made retroactive to and deemed to have been in full force and effect  on
and after January 1, 2011.