S T A T E   O F   N E W   Y O R K
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                                  7945

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 1, 2015
                               ___________

Introduced by M. of A. WRIGHT -- read once and referred to the Committee
  on Housing

AN  ACT  to  amend  the  private housing finance law, in relation to the
  issuance of notes and bonds by the New York city  housing  development
  corporation; to amend the administrative code of the city of New York,
  in  relation to imposing a tax on conveyances or transfers of residen-
  tial real property  for  one  million  seven  hundred  fifty  thousand
  dollars or more (Part A); and to amend section 421-a of the real prop-
  erty  tax  law,  in  relation  to tax exemption for multiple dwellings
  (Part B)

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

  Section  1.  This  act enacts into law major components of legislation
relating to an affordable housing program in cities having a  population
of one million or more. Each component is wholly contained within a Part
identified  as  Parts  A  and  B. The effective date for each particular
provision contained within such Part is set forth in the last section of
such Part.   Any provision in  any  section  contained  within  a  Part,
including  the  effective date of the Part, which makes a reference to a
section "of this act", when used  in  connection  with  that  particular
component,  shall  be  deemed  to  mean  and  refer to the corresponding
section of the Part in which it is found. Section three of this act sets
forth the general effective date of this act.

                                 PART A

  Section 1. The legislature hereby finds that New York city is  experi-
encing  an extreme shortage of affordable housing. The city's diversity,
competitiveness, and economic strength are imperiled by  the  fact  that
more  and more people struggle to afford to live here. The mayor's Hous-
ing New York: A Five-Borough, Ten-Year Plan has laid out a blueprint for

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11337-01-5
              

A. 7945                             2

preserving and constructing 200,000 units of affordable housing; foster-
ing thriving and inclusive neighborhoods; and creating stable and caring
environments for homeless individuals,  seniors,  and  others  who  have
special needs.
  The  legislature further finds that achieving the goals of the mayor's
Ten-Year Plan will require significant commitments of city  capital.  In
fiscal  year 2015, the city doubled its capital budget for the preserva-
tion or construction of affordable housing relative to the level it  had
committed in fiscal year 2014. The budget for the Ten-Year Plan projects
a  gap of $1.9 billion over 10 years. Accordingly, the legislature finds
that this legislation should be enacted to generate revenue that can  be
used  to meet this shortfall and subsidize the creation and preservation
of quality, affordable housing throughout the city of  New  York.    The
revenue source included in this legislation is derived from the transfer
of  high-value properties and is expected to generate approximately $1.9
billion over the next 10 years. The  affordable  housing  that  will  be
created  or preserved with these funds may serve a wide variety of fami-
lies and individuals, including  seniors,  veterans,  formerly  homeless
persons and people living with disabilities.
  S  2.  Subdivision 1 of section 655 of the private housing finance law
is amended by adding a new paragraph (d) to read as follows:
  (D) THE CITY, ACTING THROUGH THE MAYOR, MAY ASSIGN ALL OR ANY  PORTION
OF  THE  TAXES  PAYABLE TO THE CITY PURSUANT TO SUBDIVISION G OF SECTION
11-2102 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK TO THE CORPO-
RATION AND, AFTER SUCH ASSIGNMENT, SUCH TAXES AND THE RIGHT  TO  RECEIVE
SUCH  TAXES  SHALL BE THE PROPERTY OF THE CORPORATION AND MAY BE PLEDGED
BY THE CORPORATION TO THE PAYMENT OF NOTES AND BONDS OF THE CORPORATION.
FOLLOWING ANY SUCH ASSIGNMENT, SUCH TAXES SHALL CONTINUE TO BE  PAID  TO
THE  COMMISSIONER  OF FINANCE OF THE CITY, AS AGENT FOR THE CORPORATION,
AND PROMPTLY  TRANSFERRED  TO  THE  CORPORATION.    NOTWITHSTANDING  ANY
PROVISION OF THIS ARTICLE OR OF ANY OTHER LAW TO THE CONTRARY, INCLUDING
BUT  NOT  LIMITED  TO  THE RESTRICTIONS SET FORTH IN SECTION SIX HUNDRED
FIFTY-SIX OF THIS ARTICLE, THE CORPORATION IS HEREBY AUTHORIZED TO ISSUE
NEGOTIABLE NOTES AND BONDS IN ADDITION TO THOSE AUTHORIZED BY PARAGRAPHS
(A) AND (B) OF THIS SUBDIVISION IN SUCH PRINCIPAL AMOUNT AS  THE  CORPO-
RATION  SHALL  DETERMINE  TO BE NECESSARY FOR THE PURPOSE OF FUNDING THE
DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING FOR PERSONS OR  FAMI-
LIES  OF  LOW AND MODERATE INCOME WHICH BONDS AND NOTES SHALL BE SECURED
BY THE TAXES DESCRIBED IN THIS PARAGRAPH.
  S 3. Section 11-2102 of the administrative code of  the  city  of  New
York  is  amended by adding three new subdivisions g, h and i to read as
follows:
  G. IN ADDITION TO THE TAXES IMPOSED BY SUBDIVISIONS A AND  B  OF  THIS
SECTION,  THERE IS HEREBY IMPOSED A TAX ON EACH DEED OR OTHER INSTRUMENT
OR TRANSACTION CONVEYING OR TRANSFERRING RESIDENTIAL REAL PROPERTY OR AN
ECONOMIC INTEREST THEREIN, AT THE TIME OF DELIVERY BY  A  GRANTOR  TO  A
GRANTEE,  WHEN  THE  CONSIDERATION FOR SUCH PROPERTY AND ANY IMPROVEMENT
THEREON (WHETHER OR NOT INCLUDED IN THE SAME DEED) IS GREATER  THAN  ONE
MILLION  SEVEN  HUNDRED  FIFTY  THOUSAND  DOLLARS, OR AT THE TIME OF THE
TRANSFER OF SUCH ECONOMIC INTEREST BY A GRANTOR TO A GRANTEE, WHERE  THE
CONSIDERATION  FOR  SUCH  ECONOMIC  INTEREST IS GREATER THAN ONE MILLION
SEVEN HUNDRED FIFTY THOUSAND DOLLARS. EXCEPT AS  OTHERWISE  PROVIDED  IN
THIS SECTION, ALL THE PROVISIONS OF THIS CHAPTER RELATING TO OR APPLICA-
BLE  TO  THE  ADMINISTRATION,  COLLECTION  AND  DETERMINATION OF THE TAX
IMPOSED BY SUBDIVISIONS A AND B OF THIS SECTION SHALL APPLY TO  THE  TAX
IMPOSED  BY THIS SUBDIVISION WITH SUCH MODIFICATIONS AS MAY BE NECESSARY

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TO ADAPT SUCH LANGUAGE TO THE TAX  SO  IMPOSED.  FOR  PURPOSES  OF  THIS
SECTION, "RESIDENTIAL REAL PROPERTY" SHALL INCLUDE ANY PREMISES THAT ARE
OR  MAY  BE  USED IN WHOLE OR IN PART AS A PERSONAL RESIDENCE, AND SHALL
INCLUDE  A  ONE,  TWO  OR  THREE-FAMILY HOUSE, AN INDIVIDUAL RESIDENTIAL
CONDOMINIUM UNIT, OR AN INDIVIDUAL  RESIDENTIAL  COOPERATIVE  APARTMENT.
SUCH TAX SHALL BE DETERMINED AS FOLLOWS:
  (1)  IF  THE  CONSIDERATION  IS GREATER THAN ONE MILLION SEVEN HUNDRED
FIFTY THOUSAND DOLLARS BUT NOT OVER FIVE MILLION DOLLARS, THE TAX  SHALL
BE  AT  THE  RATE  OF  ONE  PERCENT OF THE CONSIDERATION OR THE ECONOMIC
INTEREST THEREIN; AND
  (2) IF THE CONSIDERATION IS GREATER THAN FIVE MILLION DOLLARS, THE TAX
SHALL BE FIFTY THOUSAND DOLLARS PLUS ONE AND  ONE-HALF  PERCENT  OF  THE
CONSIDERATION  OR  THE  ECONOMIC  INTEREST  THEREIN  OVER  FIVE  MILLION
DOLLARS.
  H. FOR PURPOSES OF  THIS  SECTION,  THE  DETERMINATION  OF  WHETHER  A
CONVEYANCE OR TRANSFER SHALL BE SUBJECT TO THE TAXES IMPOSED BY SUBDIVI-
SIONS  A,  B AND G OF THIS SECTION, AND OF THE RATE OF SUCH TAXES, SHALL
BE MADE PRIOR TO THE APPLICATION OF SUBDIVISION F OF  THIS  SECTION  AND
PARAGRAPH  EIGHT  OF  SUBDIVISION  B OF SECTION 11-2106 OF THIS CHAPTER,
PROVIDED, HOWEVER, THAT THE AMOUNT  OF  CONSIDERATION  SUBJECT  TO  SUCH
TAXES SHALL BE DETERMINED AFTER THE APPLICATION OF SUBDIVISION F OF THIS
SECTION  AND PARAGRAPH EIGHT OF SUBDIVISION B OF SECTION 11-2106 OF THIS
CHAPTER.
  I. ANY TAX COLLECTED PURSUANT TO SUBDIVISION G OF THIS  SECTION  SHALL
BE  USED  FOR THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING, OR
TO SECURE NOTES AND BONDS ISSUED FOR THE DEVELOPMENT AND PRESERVATION OF
AFFORDABLE HOUSING, IN SUCH CITY.   FOR PURPOSES  OF  THIS  SUBDIVISION,
"AFFORDABLE HOUSING" SHALL MEAN HOUSING THAT IS AFFORDABLE TO PERSONS OR
FAMILIES OF LOW AND MODERATE INCOME.
  S  4.  The  opening paragraph of section 11-2104 of the administrative
code of the city of New York, as added by local law  number  71  of  the
city of New York for the year 1986, is amended to read as follows:
  The  tax  imposed  [hereunder]  PURSUANT  TO  SUBDIVISIONS  A AND B OF
SECTION 11-2102 OF THIS CHAPTER shall be paid  by  the  grantor  to  the
commissioner  of  finance  at  the  office of the register in the county
where the deed is or would be recorded  within  thirty  days  after  the
delivery  of  the  deed  by  the  grantor  to the grantee but before the
recording of such deed, or, in the case of a tax on the transfer  of  an
economic interest in real property, at such place as the commissioner of
finance  shall  designate,  within  thirty  days after the transfer. The
grantee shall also be liable for the payment of such tax  in  the  event
that  the amount of tax due is not paid by the grantor or the grantor is
exempt from tax.  THE TAX IMPOSED PURSUANT TO SUBDIVISION G  OF  SECTION
11-2102 OF THIS CHAPTER SHALL BE PAID BY THE GRANTEE TO THE COMMISSIONER
OF FINANCE AT THE OFFICE OF THE REGISTER IN THE COUNTY WHERE THE DEED IS
OR  WOULD  BE RECORDED WITHIN THIRTY DAYS AFTER THE DELIVERY OF THE DEED
BY THE GRANTOR TO THE GRANTEE BUT BEFORE THE RECORDING OF SUCH DEED, OR,
IN THE CASE OF A TAX ON THE TRANSFER OF AN  ECONOMIC  INTEREST  IN  REAL
PROPERTY,  AT SUCH PLACE AS THE COMMISSIONER OF FINANCE SHALL DESIGNATE,
WITHIN THIRTY DAYS AFTER THE TRANSFER.  THE GRANTOR SHALL ALSO BE LIABLE
FOR THE PAYMENT OF THE TAX IMPOSED PURSUANT TO SUBDIVISION G OF  SECTION
11-2102  OF  THIS CHAPTER IN THE EVENT THAT THE AMOUNT OF TAX DUE IS NOT
PAID BY THE GRANTEE OR THE GRANTEE IS EXEMPT FROM PAYMENT  OF  THE  TAX.
All  moneys received as such payments by the register during the preced-
ing month shall be transmitted to the commissioner  of  finance  on  the

A. 7945                             4

first day of each month or on such other day as is mutually agreeable to
the commissioner of finance and the register.
  A.  From the moneys so received by him or her PURSUANT TO SUBDIVISIONS
A AND B OF SECTION 11-2102 OF THIS CHAPTER, the commissioner of  finance
shall set said in a special account:
  S  5.  Section  11-2104  of the administrative code of the city of New
York is amended by adding a new subdivision b to read as follows:
  B. THE MONEYS RECEIVED BY THE  COMMISSIONER  OF  FINANCE  PURSUANT  TO
SUBDIVISION  G  OF  SECTION 11-2102 OF THIS CHAPTER SHALL BE CREDITED TO
AND DEPOSITED IN AN ACCOUNT ESTABLISHED BY THE CITY WITHIN  ITS  GENERAL
FUND  FOR  THE  DEVELOPMENT  AND  PRESERVATION  OF AFFORDABLE HOUSING IN
ACCORDANCE WITH SUBDIVISION I OF SUCH SECTION. SUCH MONEYS SHALL BE USED
TO SUPPLEMENT, RATHER THAN SUPPLANT, LOCAL FUNDS THAT  SUCH  CITY  WOULD
HAVE EXPENDED FOR THE DEVELOPMENT OF AFFORDABLE HOUSING.
  S  6.  This  act shall take effect on the ninetieth day after it shall
have become a law.

                                 PART B

  Section 1. Section 421-a of the real property tax law  is  amended  by
adding two new subdivisions 16 and 17 to read as follows:
  16. (A) DEFINITIONS. FOR THE PURPOSES OF THIS SUBDIVISION:
  (I)  "421-A BENEFITS" SHALL MEAN EXEMPTION FROM REAL PROPERTY TAXATION
PURSUANT TO THIS SUBDIVISION.
  (II) "AFFORDABILITY OPTION A" SHALL MEAN  THAT,  WITHIN  ANY  ELIGIBLE
SITE: (A) NOT LESS THAN TEN PERCENT OF THE DWELLING UNITS ARE AFFORDABLE
HOUSING FORTY PERCENT UNITS; (B) NOT LESS THAN AN ADDITIONAL TEN PERCENT
OF  THE  DWELLING  UNITS ARE AFFORDABLE HOUSING SIXTY PERCENT UNITS; (C)
NOT LESS THAN AN ADDITIONAL FIVE  PERCENT  OF  THE  DWELLING  UNITS  ARE
AFFORDABLE HOUSING ONE HUNDRED THIRTY PERCENT UNITS; AND (D) SUCH ELIGI-
BLE  SITE  IS  DEVELOPED  WITHOUT  THE SUBSTANTIAL ASSISTANCE OF GRANTS,
LOANS OR SUBSIDIES PROVIDED BY A FEDERAL, STATE  OR  LOCAL  GOVERNMENTAL
AGENCY  OR  INSTRUMENTALITY PURSUANT TO A PROGRAM FOR THE DEVELOPMENT OF
AFFORDABLE HOUSING, EXCEPT THAT  SUCH  ELIGIBLE  SITE  MAY  RECEIVE  TAX
EXEMPT BOND PROCEEDS AND FOUR PERCENT TAX CREDITS.
  (III)  "AFFORDABILITY  OPTION  B" SHALL MEAN THAT, WITHIN ANY ELIGIBLE
SITE, (A) NOT LESS THAN TEN PERCENT OF THE DWELLING UNITS ARE AFFORDABLE
HOUSING SEVENTY PERCENT UNITS, AND (B) NOT LESS THAN AN ADDITIONAL TWEN-
TY PERCENT OF THE DWELLING UNITS  ARE  AFFORDABLE  HOUSING  ONE  HUNDRED
THIRTY PERCENT UNITS.
  (IV)  "AFFORDABILITY  OPTION  C"  SHALL MEAN THAT, WITHIN ANY ELIGIBLE
SITE, (A) NOT LESS THAN THIRTY PERCENT OF THE DWELLING UNITS ARE AFFORD-
ABLE HOUSING ONE HUNDRED THIRTY PERCENT UNITS,  AND  (B)  SUCH  ELIGIBLE
SITE IS DEVELOPED WITHOUT THE SUBSTANTIAL ASSISTANCE OF GRANTS, LOANS OR
SUBSIDIES  PROVIDED  BY A FEDERAL, STATE OR LOCAL GOVERNMENTAL AGENCY OR
INSTRUMENTALITY PURSUANT TO A PROGRAM FOR THE DEVELOPMENT OF  AFFORDABLE
HOUSING.
  (V) "AFFORDABILITY PERCENTAGE" SHALL MEAN A FRACTION, THE NUMERATOR OF
WHICH  IS THE NUMBER OF AFFORDABLE HOUSING UNITS IN AN ELIGIBLE SITE AND
THE DENOMINATOR OF WHICH IS THE TOTAL NUMBER OF DWELLING UNITS  IN  SUCH
ELIGIBLE SITE.
  (VI)  "AFFORDABLE  HOUSING  FORTY  PERCENT UNIT" SHALL MEAN A DWELLING
UNIT THAT: (A) IS SITUATED WITHIN THE  ELIGIBLE  SITE  FOR  WHICH  421-A
BENEFITS  ARE  GRANTED; AND (B) UPON INITIAL RENTAL AND UPON EACH SUBSE-
QUENT RENTAL FOLLOWING A  VACANCY  DURING  THE  RESTRICTION  PERIOD,  IS
AFFORDABLE  TO  AND  RESTRICTED  TO OCCUPANCY BY INDIVIDUALS OR FAMILIES

A. 7945                             5

WHOSE HOUSEHOLD INCOME DOES NOT EXCEED FORTY PERCENT OF THE AREA  MEDIAN
INCOME,  ADJUSTED  FOR  FAMILY  SIZE,  AT  THE  TIME THAT SUCH HOUSEHOLD
INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (VII)  "AFFORDABLE  HOUSING  SIXTY PERCENT UNIT" SHALL MEAN A DWELLING
UNIT THAT: (A) IS SITUATED WITHIN THE  ELIGIBLE  SITE  FOR  WHICH  421-A
BENEFITS  ARE  GRANTED; AND (B) UPON INITIAL RENTAL AND UPON EACH SUBSE-
QUENT RENTAL FOLLOWING A  VACANCY  DURING  THE  RESTRICTION  PERIOD,  IS
AFFORDABLE  TO  AND  RESTRICTED  TO OCCUPANCY BY INDIVIDUALS OR FAMILIES
WHOSE HOUSEHOLD INCOME DOES NOT EXCEED SIXTY PERCENT OF THE AREA  MEDIAN
INCOME,  ADJUSTED  FOR  FAMILY  SIZE,  AT  THE  TIME THAT SUCH HOUSEHOLD
INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (VIII) "AFFORDABLE HOUSING SEVENTY PERCENT UNIT" SHALL MEAN A DWELLING
UNIT THAT: (A) IS SITUATED WITHIN THE  ELIGIBLE  SITE  FOR  WHICH  421-A
BENEFITS  ARE  GRANTED; AND (B) UPON INITIAL RENTAL AND UPON EACH SUBSE-
QUENT RENTAL FOLLOWING A  VACANCY  DURING  THE  RESTRICTION  PERIOD,  IS
AFFORDABLE  TO  AND  RESTRICTED  TO OCCUPANCY BY INDIVIDUALS OR FAMILIES
WHOSE HOUSEHOLD INCOME DOES NOT EXCEED SEVENTY PERCENT OF THE AREA MEDI-
AN INCOME, ADJUSTED FOR FAMILY SIZE, AT THE  TIME  THAT  SUCH  HOUSEHOLD
INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (IX) "AFFORDABLE HOUSING ONE HUNDRED THIRTY PERCENT UNIT" SHALL MEAN A
DWELLING  UNIT  THAT: (A) IS SITUATED WITHIN THE ELIGIBLE SITE FOR WHICH
421-A BENEFITS ARE GRANTED; AND (B) UPON INITIAL RENTAL  AND  UPON  EACH
SUBSEQUENT  RENTAL FOLLOWING A VACANCY DURING THE RESTRICTION PERIOD, IS
AFFORDABLE TO AND RESTRICTED TO OCCUPANCY  BY  INDIVIDUALS  OR  FAMILIES
WHOSE HOUSEHOLD INCOME DOES NOT EXCEED ONE HUNDRED THIRTY PERCENT OF THE
AREA  MEDIAN  INCOME,  ADJUSTED  FOR  FAMILY SIZE, AT THE TIME THAT SUCH
HOUSEHOLD INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (X) "AFFORDABLE HOUSING UNIT" SHALL MEAN, COLLECTIVELY AND INDIVIDUAL-
LY, AFFORDABLE HOUSING FORTY PERCENT  UNITS,  AFFORDABLE  HOUSING  SIXTY
PERCENT  UNITS, AFFORDABLE HOUSING SEVENTY PERCENT UNITS, AND AFFORDABLE
HOUSING ONE HUNDRED THIRTY PERCENT UNITS.
  (XI) "AGENCY" SHALL MEAN THE DEPARTMENT OF  HOUSING  PRESERVATION  AND
DEVELOPMENT.
  (XII) "APPLICATION" SHALL MEAN AN APPLICATION FOR 421-A BENEFITS.
  (XIII)  "BUILDING SERVICE EMPLOYEE" SHALL MEAN ANY PERSON WHO IS REGU-
LARLY EMPLOYED AT, AND PERFORMS WORK IN  CONNECTION  WITH  THE  CARE  OR
MAINTENANCE  OF,  AN  ELIGIBLE  SITE,  INCLUDING,  BUT NOT LIMITED TO, A
WATCHMAN, GUARD, DOORMAN, BUILDING CLEANER, PORTER,  HANDYMAN,  JANITOR,
GARDENER,  GROUNDSKEEPER,  ELEVATOR  OPERATOR  AND  STARTER,  AND WINDOW
CLEANER, BUT NOT INCLUDING PERSONS REGULARLY  SCHEDULED  TO  WORK  FEWER
THAN EIGHT HOURS PER WEEK AT THE ELIGIBLE SITE.
  (XIV)  "COMMENCEMENT  DATE"  SHALL  MEAN, WITH RESPECT TO ANY ELIGIBLE
MULTIPLE DWELLING, THE DATE UPON WHICH EXCAVATION  AND  CONSTRUCTION  OF
INITIAL  FOOTINGS  AND FOUNDATIONS LAWFULLY BEGINS IN GOOD FAITH OR, FOR
AN ELIGIBLE CONVERSION, THE DATE UPON WHICH THE ACTUAL  CONSTRUCTION  OF
THE  CONVERSION,  ALTERATION OR IMPROVEMENT OF THE PRE-EXISTING BUILDING
OR STRUCTURE LAWFULLY BEGINS IN GOOD FAITH.
  (XV) "COMPLETION DATE" SHALL  MEAN  THE  DATE  UPON  WHICH  THE  LOCAL
DEPARTMENT  OF BUILDINGS ISSUES THE FIRST TEMPORARY OR PERMANENT CERTIF-
ICATE OF OCCUPANCY COVERING ALL RESIDENTIAL AREAS OF AN ELIGIBLE  MULTI-
PLE DWELLING.
  (XVI)  "CONSTRUCTION  PERIOD" SHALL MEAN, WITH RESPECT TO ANY ELIGIBLE
MULTIPLE DWELLING, A PERIOD: (A) BEGINNING ON THE LATER OF THE COMMENCE-
MENT DATE OF SUCH ELIGIBLE MULTIPLE DWELLING OR THREE YEARS  BEFORE  THE
COMPLETION  DATE  OF  SUCH ELIGIBLE MULTIPLE DWELLING; AND (B) ENDING ON

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THE DAY PRECEDING THE COMPLETION DATE OF SUCH ELIGIBLE  MULTIPLE  DWELL-
ING.
  (XVII)  "ELIGIBLE CONVERSION" SHALL MEAN THE CONVERSION, ALTERATION OR
IMPROVEMENT OF A PRE-EXISTING  BUILDING  OR  STRUCTURE  RESULTING  IN  A
MULTIPLE  DWELLING IN WHICH NO MORE THAN FORTY-NINE PERCENT OF THE FLOOR
AREA CONSISTS OF SUCH PRE-EXISTING BUILDING OR STRUCTURE.
  (XVIII) "ELIGIBLE MULTIPLE DWELLING" SHALL MEAN  A  MULTIPLE  DWELLING
CONTAINING  SIX  OR MORE DWELLING UNITS CREATED THROUGH NEW CONSTRUCTION
OR ELIGIBLE CONVERSION FOR WHICH THE COMMENCEMENT DATE IS AFTER DECEMBER
THIRTY-FIRST, TWO THOUSAND FIFTEEN AND ON OR BEFORE JUNE FIFTEENTH,  TWO
THOUSAND  NINETEEN,  AND  FOR  WHICH THE COMPLETION DATE IS ON OR BEFORE
JUNE FIFTEENTH, TWO THOUSAND TWENTY-THREE.
  (XIX) "ELIGIBLE SITE" SHALL MEAN EITHER: (A) A TAX LOT  CONTAINING  AN
ELIGIBLE  MULTIPLE  DWELLING; OR (B) A ZONING LOT CONTAINING TWO OR MORE
ELIGIBLE MULTIPLE DWELLINGS THAT ARE PART OF A SINGLE APPLICATION.
  (XX) "FISCAL OFFICER" SHALL MEAN THE COMPTROLLER  OR  OTHER  ANALOGOUS
OFFICER IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE.
  (XXI)  "FLOOR AREA" SHALL MEAN "FLOOR AREA" AS DEFINED IN THE NEW YORK
CITY ZONING RESOLUTION.
  (XXII) "FOUR PERCENT TAX CREDITS" SHALL MEAN FEDERAL LOW INCOME  HOUS-
ING  TAX CREDITS COMPUTED IN ACCORDANCE WITH CLAUSE (II) OF SUBPARAGRAPH
(B) OF PARAGRAPH (1) OF SUBSECTION  (B)  OF  SECTION  FORTY-TWO  OF  THE
INTERNAL REVENUE CODE OF NINETEEN HUNDRED EIGHTY-SIX, AS AMENDED.
  (XXIII)  "HOMEOWNERSHIP  PROJECT"  SHALL  MEAN  A MULTIPLE DWELLING OR
PORTION THEREOF OPERATED AS CONDOMINIUM OR COOPERATIVE HOUSING.
  (XXIV) "MARKET UNIT" SHALL MEAN A DWELLING UNIT IN AN ELIGIBLE  MULTI-
PLE DWELLING OTHER THAN AN AFFORDABLE HOUSING UNIT.
  (XXV)  "MULTIPLE  DWELLING"  SHALL  HAVE  THE MEANING SET FORTH IN THE
MULTIPLE DWELLING LAW.
  (XXVI) "NON-RESIDENTIAL TAX LOT" SHALL MEAN A TAX LOT  THAT  DOES  NOT
CONTAIN ANY DWELLING UNITS.
  (XXVII)  "RENT  STABILIZATION"  SHALL  MEAN,  COLLECTIVELY,  THE  RENT
STABILIZATION LAW OF NINETEEN HUNDRED SIXTY-NINE, THE RENT STABILIZATION
CODE, AND THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN  SEVENTY-FOUR,
ALL  AS IN EFFECT AS OF THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS OF
TWO THOUSAND FIFTEEN THAT ADDED THIS SUBDIVISION OR AS AMENDED THEREAFT-
ER, TOGETHER WITH  ANY  SUCCESSOR  STATUTES  OR  REGULATIONS  ADDRESSING
SUBSTANTIALLY THE SAME SUBJECT MATTER.
  (XXVIII)  "RENTAL  PROJECT"  SHALL  MEAN AN ELIGIBLE SITE IN WHICH ALL
DWELLING UNITS INCLUDED IN ANY APPLICATION ARE OPERATED AS RENTAL  HOUS-
ING.
  (XXIX) "RESIDENTIAL TAX LOT" SHALL MEAN A TAX LOT THAT CONTAINS DWELL-
ING UNITS.
  (XXX)  "RESTRICTION  PERIOD"  SHALL  MEAN  A  PERIOD COMMENCING ON THE
COMPLETION DATE AND EXPIRING ON  THE  THIRTY-FIFTH  ANNIVERSARY  OF  THE
COMPLETION  DATE,  NOTWITHSTANDING ANY EARLIER TERMINATION OR REVOCATION
OF 421-A BENEFITS.
  (XXXI)"TAX EXEMPT BOND PROCEEDS" SHALL MEAN THE PROCEEDS OF AN  EXEMPT
FACILITY  BOND, AS DEFINED IN PARAGRAPH (7) OF SUBSECTION (A) OF SECTION
ONE HUNDRED FORTY-TWO OF THE INTERNAL REVENUE CODE OF  NINETEEN  HUNDRED
EIGHTY-SIX,  AS AMENDED, THE INTEREST UPON WHICH IS EXEMPT FROM TAXATION
UNDER SECTION ONE HUNDRED THREE OF THE INTERNAL REVENUE CODE OF NINETEEN
HUNDRED EIGHTY-SIX, AS AMENDED.
  (XXXII)  "THIRTY-FIVE  YEAR  BENEFIT"  SHALL   MEAN:   (A)   FOR   THE
CONSTRUCTION  PERIOD, A ONE HUNDRED PERCENT EXEMPTION FROM REAL PROPERTY
TAXATION, OTHER THAN ASSESSMENTS FOR LOCAL  IMPROVEMENTS;  (B)  FOR  THE

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FIRST TWENTY-FIVE YEARS OF THE RESTRICTION PERIOD, A ONE HUNDRED PERCENT
EXEMPTION  FROM REAL PROPERTY TAXATION, OTHER THAN ASSESSMENTS FOR LOCAL
IMPROVEMENTS; AND (C) FOR THE FINAL TEN YEARS OF THE RESTRICTION PERIOD,
AN  EXEMPTION  FROM  REAL  PROPERTY TAXATION, OTHER THAN ASSESSMENTS FOR
LOCAL IMPROVEMENTS, EQUAL TO THE AFFORDABILITY PERCENTAGE.
  (B) BENEFIT. IN CITIES HAVING A POPULATION OF  ONE  MILLION  OR  MORE,
NOTWITHSTANDING  THE PROVISIONS OF ANY OTHER SUBDIVISION OF THIS SECTION
OR OF ANY GENERAL, SPECIAL OR LOCAL LAW TO THE  CONTRARY,  NEW  ELIGIBLE
SITES,  EXCEPT  HOTELS, THAT COMPLY WITH THE PROVISIONS OF THIS SUBDIVI-
SION SHALL BE EXEMPT FROM REAL PROPERTY TAXATION, OTHER THAN ASSESSMENTS
FOR LOCAL IMPROVEMENTS, IN THE AMOUNTS AND FOR THE PERIODS SPECIFIED  IN
THIS  PARAGRAPH.  A RENTAL PROJECT THAT MEETS ALL OF THE REQUIREMENTS OF
THIS SUBDIVISION SHALL RECEIVE A THIRTY-FIVE YEAR BENEFIT. A  HOMEOWNER-
SHIP  PROJECT  SHALL  NOT  BE ELIGIBLE FOR, AND SHALL NOT RECEIVE, 421-A
BENEFITS.
  (C) TAX PAYMENTS. IN ADDITION TO ANY OTHER AMOUNTS PAYABLE PURSUANT TO
THIS SUBDIVISION, THE OWNER OF ANY ELIGIBLE SITE RECEIVING  421-A  BENE-
FITS  SHALL  PAY,  IN  EACH TAX YEAR IN WHICH SUCH 421-A BENEFITS ARE IN
EFFECT, REAL PROPERTY TAXES AND ASSESSMENTS AS FOLLOWS:
  (I) WITH RESPECT TO EACH ELIGIBLE  MULTIPLE  DWELLING  CONSTRUCTED  ON
SUCH  ELIGIBLE  SITE,  REAL  PROPERTY TAXES ON THE ASSESSED VALUATION OF
SUCH LAND AND ANY IMPROVEMENTS THEREON IN EFFECT  DURING  THE  TAX  YEAR
PRIOR TO THE COMMENCEMENT DATE OF SUCH ELIGIBLE MULTIPLE DWELLING, WITH-
OUT  REGARD TO ANY EXEMPTION FROM OR ABATEMENT OF REAL PROPERTY TAXATION
IN EFFECT DURING SUCH TAX YEAR,  WHICH  REAL  PROPERTY  TAXES  SHALL  BE
CALCULATED  USING THE TAX RATE IN EFFECT AT THE TIME SUCH TAXES ARE DUE;
AND
  (II) ALL ASSESSMENTS FOR LOCAL IMPROVEMENTS.
  (D) LIMITATION ON BENEFITS FOR NON-RESIDENTIAL SPACE. IF THE AGGREGATE
FLOOR AREA OF COMMERCIAL, COMMUNITY FACILITY AND ACCESSORY USE SPACE  IN
AN  ELIGIBLE  SITE,  OTHER  THAN  PARKING WHICH IS LOCATED NOT MORE THAN
TWENTY-THREE FEET ABOVE THE CURB LEVEL, EXCEEDS TWELVE  PERCENT  OF  THE
AGGREGATE  FLOOR AREA IN SUCH ELIGIBLE SITE, ANY 421-A BENEFITS SHALL BE
REDUCED BY A PERCENTAGE EQUAL  TO  SUCH  EXCESS.  IF  AN  ELIGIBLE  SITE
CONTAINS  MULTIPLE  TAX  LOTS,  THE TAX ARISING OUT OF SUCH REDUCTION IN
421-A BENEFITS SHALL FIRST BE APPORTIONED PRO RATA AMONG  ANY  NON-RESI-
DENTIAL  TAX  LOTS.    AFTER ANY SUCH NON-RESIDENTIAL TAX LOTS ARE FULLY
TAXABLE, THE REMAINDER OF THE TAX ARISING OUT OF SUCH REDUCTION IN 421-A
BENEFITS, IF ANY, SHALL BE APPORTIONED  PRO  RATA  AMONG  THE  REMAINING
RESIDENTIAL TAX LOTS.
  (E)  CALCULATION  OF BENEFIT. BASED ON THE CERTIFICATION OF THE AGENCY
CERTIFYING THE APPLICANT'S ELIGIBILITY FOR 421-A BENEFITS, THE ASSESSORS
SHALL CERTIFY TO THE COLLECTING  OFFICER  THE  AMOUNT  OF  TAXES  TO  BE
EXEMPTED.
  (F)  AFFORDABILITY  REQUIREMENTS.  DURING  THE  RESTRICTION  PERIOD, A
RENTAL PROJECT SHALL COMPLY WITH EITHER AFFORDABILITY OPTION A, AFFORDA-
BILITY OPTION B, OR AFFORDABILITY OPTION C. SUCH ELECTION SHALL BE  MADE
IN  THE  APPLICATION  AND  SHALL  NOT  THEREAFTER BE CHANGED. THE RENTAL
PROJECT SHALL ALSO COMPLY WITH ALL PROVISIONS OF THIS  PARAGRAPH  DURING
THE  RESTRICTION  PERIOD  AND  WITH SUBPARAGRAPH (III) OF THIS PARAGRAPH
BOTH DURING AND AFTER THE RESTRICTION PERIOD TO THE EXTENT  PROVIDED  IN
SUCH SUBPARAGRAPH.
  (I)  ALL  RENTAL DWELLING UNITS IN AN ELIGIBLE MULTIPLE DWELLING SHALL
BE ACCESSED THROUGH THE SAME STREET ENTRANCES AND LOBBIES, AND  NO  SUCH
ENTRANCE  OR  LOBBY SHALL SERVE SOME RENTAL DWELLING UNITS TO THE EXCLU-
SION OF OTHERS.

A. 7945                             8

  (II) UNLESS PREEMPTED BY THE REQUIREMENTS OF A FEDERAL, STATE OR LOCAL
HOUSING PROGRAM, EITHER (A) THE AFFORDABLE HOUSING UNITS IN AN  ELIGIBLE
SITE  SHALL  HAVE A UNIT MIX PROPORTIONAL TO THE MARKET UNITS, OR (B) AT
LEAST FIFTY PERCENT OF THE AFFORDABLE HOUSING UNITS IN AN ELIGIBLE  SITE
SHALL  HAVE TWO OR MORE BEDROOMS AND NO MORE THAN TWENTY-FIVE PERCENT OF
THE AFFORDABLE HOUSING UNITS SHALL HAVE LESS THAN ONE BEDROOM.
  (III) NOTWITHSTANDING ANY  PROVISION  OF  RENT  STABILIZATION  TO  THE
CONTRARY,  THE  RENTS  OF  ALL  AFFORDABLE  HOUSING UNITS SHALL BE FULLY
SUBJECT TO RENT STABILIZATION DURING THE  RESTRICTION  PERIOD,  PROVIDED
THAT TENANTS HOLDING A LEASE AND IN OCCUPANCY OF SUCH AFFORDABLE HOUSING
UNITS  AT  THE EXPIRATION OF THE RESTRICTION PERIOD SHALL HAVE THE RIGHT
TO REMAIN AS RENT STABILIZED TENANTS FOR THE DURATION OF THEIR  OCCUPAN-
CY.
  (IV)  ALL RENT STABILIZATION REGISTRATIONS REQUIRED TO BE FILED PURSU-
ANT TO SUBPARAGRAPH (III) OF THIS PARAGRAPH SHALL CONTAIN A  DESIGNATION
THAT  SPECIFICALLY  IDENTIFIES AFFORDABLE HOUSING UNITS CREATED PURSUANT
TO THIS SUBDIVISION  AS  "421-A  AFFORDABLE  HOUSING  UNITS"  AND  SHALL
CONTAIN  AN  EXPLANATION  OF  THE  REQUIREMENTS  THAT  APPLY TO ALL SUCH
AFFORDABLE HOUSING UNITS.
  (V) FAILURE TO COMPLY WITH  THE  PROVISIONS  OF  THIS  PARAGRAPH  THAT
REQUIRE  THE  CREATION,  MAINTENANCE,  RENT STABILIZATION COMPLIANCE AND
OCCUPANCY OF AFFORDABLE HOUSING UNITS SHALL RESULT IN REVOCATION OF  ANY
421-A BENEFITS FOR THE PERIOD OF SUCH NON-COMPLIANCE.
  (VI)  NOTHING  IN THIS SUBDIVISION SHALL (A) PROHIBIT THE OCCUPANCY OF
AN AFFORDABLE HOUSING UNIT BY INDIVIDUALS OR FAMILIES  WHOSE  INCOME  AT
ANY  TIME IS LESS THAN THE MAXIMUM PERCENTAGE OF THE AREA MEDIAN INCOME,
ADJUSTED FOR FAMILY SIZE, SPECIFIED FOR  SUCH  AFFORDABLE  HOUSING  UNIT
PURSUANT  TO  THIS SUBDIVISION, OR (B) PROHIBIT THE OWNER OF AN ELIGIBLE
SITE FROM REQUIRING, UPON INITIAL RENTAL OR UPON ANY RENTAL FOLLOWING  A
VACANCY,  THE  OCCUPANCY  OF  ANY  AFFORDABLE HOUSING UNIT BY SUCH LOWER
INCOME INDIVIDUALS OR FAMILIES.
  (VII) FOLLOWING ISSUANCE OF A TEMPORARY CERTIFICATE OF  OCCUPANCY  AND
UPON  EACH VACANCY THEREAFTER, AN AFFORDABLE HOUSING UNIT SHALL PROMPTLY
BE OFFERED FOR RENTAL BY INDIVIDUALS OR FAMILIES WHOSE INCOME  DOES  NOT
EXCEED  THE  MAXIMUM  PERCENTAGE OF THE AREA MEDIAN INCOME, ADJUSTED FOR
FAMILY SIZE, SPECIFIED FOR SUCH AFFORDABLE HOUSING UNIT PURSUANT TO THIS
SUBDIVISION AND WHO INTEND TO OCCUPY SUCH  AFFORDABLE  HOUSING  UNIT  AS
THEIR  PRIMARY  RESIDENCE.  AN  AFFORDABLE HOUSING UNIT SHALL NOT BE (A)
RENTED TO A CORPORATION, PARTNERSHIP OR OTHER ENTITY, OR  (B)  HELD  OFF
THE  MARKET  FOR A PERIOD LONGER THAN IS REASONABLY NECESSARY TO PERFORM
REPAIRS NEEDED TO MAKE SUCH AFFORDABLE HOUSING UNIT AVAILABLE FOR  OCCU-
PANCY.
  (VIII)  AN AFFORDABLE HOUSING UNIT SHALL NOT BE RENTED ON A TEMPORARY,
TRANSIENT OR SHORT-TERM BASIS. EVERY LEASE AND RENEWAL  THEREOF  FOR  AN
AFFORDABLE  HOUSING UNIT SHALL BE FOR A TERM OF ONE OR TWO YEARS, AT THE
OPTION OF THE TENANT.
  (IX) AN AFFORDABLE HOUSING UNIT SHALL NOT BE CONVERTED TO  COOPERATIVE
OR CONDOMINIUM OWNERSHIP.
  (X)  THE  AGENCY MAY ESTABLISH BY RULE SUCH REQUIREMENTS AS THE AGENCY
DEEMS NECESSARY OR APPROPRIATE FOR (A) THE MARKETING OF AFFORDABLE HOUS-
ING UNITS, BOTH UPON INITIAL OCCUPANCY AND UPON  ANY  VACANCY,  AND  (B)
MONITORING  COMPLIANCE  WITH  THE  PROVISIONS  OF  THIS  PARAGRAPH. SUCH
REQUIREMENTS MAY INCLUDE, BUT NEED NOT BE LIMITED TO, RETAINING A  MONI-
TOR APPROVED BY THE AGENCY AND PAID FOR BY THE OWNER.
  (XI)  NOTWITHSTANDING ANY PROVISION OF THIS SUBDIVISION TO THE CONTRA-
RY, A MARKET UNIT SHALL BE SUBJECT TO RENT STABILIZATION UNLESS, IN  THE

A. 7945                             9

ABSENCE  OF  421-A  BENEFITS, THE OWNER WOULD BE ENTITLED TO REMOVE SUCH
MARKET UNIT FROM RENT STABILIZATION UPON VACANCY BY REASON OF THE MONTH-
LY RENT EXCEEDING ANY LIMIT ESTABLISHED THEREUNDER.
  (G)  BUILDING  SERVICE EMPLOYEES.   (I) FOR THE PURPOSES OF THIS PARA-
GRAPH, "APPLICANT" SHALL MEAN  AN  APPLICANT  FOR  421-A  BENEFITS,  ANY
SUCCESSOR TO SUCH APPLICANT, OR ANY EMPLOYER OF BUILDING SERVICE EMPLOY-
EES  FOR  SUCH  APPLICANT,  INCLUDING,  BUT  NOT  LIMITED TO, A PROPERTY
MANAGEMENT COMPANY OR CONTRACTOR.
  (II) ALL BUILDING SERVICE EMPLOYEES EMPLOYED BY THE APPLICANT  AT  THE
ELIGIBLE  SITE  SHALL  RECEIVE  THE  APPLICABLE  PREVAILING WAGE FOR THE
ENTIRE RESTRICTION PERIOD.
  (III)  THE  FISCAL  OFFICER  SHALL  HAVE  THE  POWER  TO  ENFORCE  THE
PROVISIONS  OF  THIS PARAGRAPH. IN ENFORCING SUCH PROVISIONS, THE FISCAL
OFFICER SHALL HAVE THE POWER:
  (A) TO INVESTIGATE OR CAUSE AN INVESTIGATION TO BE MADE  TO  DETERMINE
THE  PREVAILING  WAGES  FOR  BUILDING  SERVICE EMPLOYEES; IN MAKING SUCH
INVESTIGATION, THE FISCAL OFFICER MAY UTILIZE WAGE  AND  FRINGE  BENEFIT
DATA  FROM  VARIOUS  SOURCES,  INCLUDING,  BUT  NOT LIMITED TO, DATA AND
DETERMINATIONS OF FEDERAL, STATE OR OTHER GOVERNMENTAL AGENCIES;
  (B) TO INSTITUTE AND CONDUCT INSPECTIONS AT THE SITE OF  THE  WORK  OR
ELSEWHERE;
  (C)  TO  EXAMINE  THE  BOOKS,  DOCUMENTS AND RECORDS PERTAINING TO THE
WAGES PAID TO, AND THE HOURS OF  WORK  PERFORMED  BY,  BUILDING  SERVICE
EMPLOYEES;
  (D) TO HOLD HEARINGS AND, IN CONNECTION THEREWITH, TO ISSUE SUBPOENAS,
ADMINISTER  OATHS  AND  EXAMINE WITNESSES; THE ENFORCEMENT OF A SUBPOENA
ISSUED UNDER THIS PARAGRAPH SHALL BE REGULATED BY THE CIVIL PRACTICE LAW
AND RULES;
  (E) TO MAKE A CLASSIFICATION BY CRAFT, TRADE OR OTHER GENERALLY RECOG-
NIZED OCCUPATIONAL CATEGORY OF THE BUILDING  SERVICE  EMPLOYEES  AND  TO
DETERMINE  WHETHER  SUCH WORK HAS BEEN PERFORMED BY THE BUILDING SERVICE
EMPLOYEES IN SUCH CLASSIFICATION;
  (F) TO REQUIRE THE APPLICANT TO FILE WITH THE FISCAL OFFICER A  RECORD
OF  THE  WAGES  ACTUALLY  PAID BY SUCH APPLICANT TO THE BUILDING SERVICE
EMPLOYEES AND OF THEIR HOURS OF WORK;
  (G) TO DELEGATE ANY OF THE FOREGOING POWERS TO HIS OR  HER  DEPUTY  OR
OTHER AUTHORIZED REPRESENTATIVE; AND
  (H)  TO PROMULGATE RULES AS HE OR SHE SHALL CONSIDER NECESSARY FOR THE
PROPER EXECUTION OF THE DUTIES, RESPONSIBILITIES  AND  POWERS  CONFERRED
UPON HIM OR HER BY THE PROVISIONS OF THIS SUBPARAGRAPH.
  (IV)  IF  THE  FISCAL  OFFICER  FINDS THAT THE APPLICANT HAS FAILED TO
COMPLY WITH THE PROVISIONS OF THIS PARAGRAPH, HE OR  SHE  SHALL  PRESENT
EVIDENCE OF SUCH NONCOMPLIANCE TO THE AGENCY.
  (V) SUBPARAGRAPH (II) OF THIS PARAGRAPH SHALL NOT BE APPLICABLE TO:
  (A) AN ELIGIBLE MULTIPLE DWELLING CONTAINING LESS THAN THIRTY DWELLING
UNITS; OR
  (B)  AN  ELIGIBLE MULTIPLE DWELLING IN WHICH ALL OF THE DWELLING UNITS
ARE AFFORDABLE HOUSING UNITS AND NOT LESS THAN  FIFTY  PERCENT  OF  SUCH
AFFORDABLE  HOUSING  UNITS, UPON INITIAL RENTAL AND UPON EACH SUBSEQUENT
RENTAL FOLLOWING A VACANCY DURING THE RESTRICTION PERIOD, ARE AFFORDABLE
TO AND RESTRICTED TO OCCUPANCY BY INDIVIDUALS OR FAMILIES  WHOSE  HOUSE-
HOLD  INCOME DOES NOT EXCEED ONE HUNDRED TWENTY-FIVE PERCENT OF THE AREA
MEDIAN INCOME, ADJUSTED FOR FAMILY SIZE, AT THE TIME THAT SUCH HOUSEHOLD
INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (H) REPLACEMENT RATIO. IF THE  LAND  ON  WHICH  AN  ELIGIBLE  SITE  IS
LOCATED  CONTAINED ANY DWELLING UNITS THREE YEARS PRIOR TO THE COMMENCE-

A. 7945                            10

MENT DATE OF THE FIRST ELIGIBLE MULTIPLE  DWELLING  THEREON,  THEN  SUCH
ELIGIBLE  SITE  SHALL  CONTAIN  AT LEAST ONE AFFORDABLE HOUSING UNIT FOR
EACH DWELLING UNIT THAT EXISTED ON SUCH DATE AND WAS  THEREAFTER  DEMOL-
ISHED, REMOVED OR RECONFIGURED.
  (I) CONCURRENT EXEMPTIONS OR ABATEMENTS. AN ELIGIBLE MULTIPLE DWELLING
RECEIVING  421-A BENEFITS SHALL NOT RECEIVE ANY EXEMPTION FROM OR ABATE-
MENT OF REAL PROPERTY TAXATION UNDER ANY OTHER LAW.
  (J)  VOLUNTARY  RENUNCIATION  OR  TERMINATION.   NOTWITHSTANDING   THE
PROVISIONS  OF  ANY  GENERAL,  SPECIAL  OR LOCAL LAW TO THE CONTRARY, AN
OWNER SHALL NOT BE ENTITLED TO VOLUNTARILY  RENOUNCE  OR  TERMINATE  ANY
421-A  BENEFITS UNLESS THE AGENCY AUTHORIZES SUCH RENUNCIATION OR TERMI-
NATION IN CONNECTION WITH THE COMMENCEMENT OF A NEW TAX EXEMPTION PURSU-
ANT TO EITHER THE PRIVATE HOUSING FINANCE LAW OR  SECTION  FOUR  HUNDRED
TWENTY-C OF THIS TITLE.
  (K)  TERMINATION  OR  REVOCATION.  THE  AGENCY MAY TERMINATE OR REVOKE
421-A BENEFITS FOR NONCOMPLIANCE WITH THIS SUBDIVISION. IF  421-A  BENE-
FITS  ARE TERMINATED OR REVOKED FOR NONCOMPLIANCE WITH THIS SUBDIVISION,
ALL OF THE  AFFORDABLE  HOUSING  UNITS  SHALL  REMAIN  SUBJECT  TO  RENT
STABILIZATION  AND  ALL  OTHER  REQUIREMENTS OF THIS SUBDIVISION FOR THE
RESTRICTION PERIOD AND ANY ADDITIONAL PERIOD EXPRESSLY PROVIDED IN  THIS
SUBDIVISION,  AS  IF  THE  421-A  BENEFITS  HAD  NOT  BEEN TERMINATED OR
REVOKED.
  (L) POWERS CUMULATIVE. THE ENFORCEMENT PROVISIONS OF THIS  SUBDIVISION
SHALL  NOT  BE EXCLUSIVE, AND ARE IN ADDITION TO ANY OTHER RIGHTS, REME-
DIES, OR ENFORCEMENT POWERS SET FORTH IN ANY OTHER LAW OR  AVAILABLE  AT
LAW OR IN EQUITY.
  (M) MULTIPLE TAX LOTS. IF AN ELIGIBLE SITE CONTAINS MULTIPLE TAX LOTS,
AN  APPLICATION MAY BE SUBMITTED WITH RESPECT TO ONE OR MORE OF SUCH TAX
LOTS. THE AGENCY SHALL DETERMINE ELIGIBILITY FOR  421-A  BENEFITS  BASED
UPON THE TAX LOTS INCLUDED IN SUCH APPLICATION.
  (N)  APPLICATIONS.    (I) THE APPLICATION WITH RESPECT TO ANY ELIGIBLE
MULTIPLE DWELLING SHALL BE FILED WITH THE AGENCY NOT LATER THAN ONE YEAR
AFTER THE COMPLETION DATE OF SUCH ELIGIBLE MULTIPLE DWELLING.
  (II) NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL  OR  LOCAL
LAW TO THE CONTRARY, THE AGENCY MAY REQUIRE BY RULE THAT APPLICATIONS BE
FILED ELECTRONICALLY.
  (III) THE AGENCY MAY RELY ON CERTIFICATION BY AN ARCHITECT OR ENGINEER
SUBMITTED  BY  AN APPLICANT IN CONNECTION WITH THE FILING OF AN APPLICA-
TION. A FALSE CERTIFICATION BY  SUCH  ARCHITECT  OR  ENGINEER  SHALL  BE
DEEMED  TO  BE  PROFESSIONAL  MISCONDUCT  PURSUANT TO SECTION SIXTY-FIVE
HUNDRED NINE OF THE EDUCATION LAW. ANY LICENSEE  FOUND  GUILTY  OF  SUCH
MISCONDUCT UNDER THE PROCEDURES PRESCRIBED IN SECTION SIXTY-FIVE HUNDRED
TEN OF THE EDUCATION LAW SHALL BE SUBJECT TO THE PENALTIES PRESCRIBED IN
SECTION SIXTY-FIVE HUNDRED ELEVEN OF THE EDUCATION LAW, AND SHALL THERE-
AFTER  BE INELIGIBLE TO SUBMIT A CERTIFICATION PURSUANT TO THIS SUBDIVI-
SION.
  (O) FILING FEE. THE AGENCY MAY REQUIRE A FILING FEE OF THREE  THOUSAND
DOLLARS  PER  DWELLING UNIT IN CONNECTION WITH ANY APPLICATION. HOWEVER,
THE AGENCY MAY PROMULGATE RULES IMPOSING A LESSER FEE FOR ELIGIBLE SITES
CONTAINING ELIGIBLE MULTIPLE DWELLINGS CONSTRUCTED WITH THE  SUBSTANTIAL
ASSISTANCE OF GRANTS, LOANS OR SUBSIDIES PROVIDED BY A FEDERAL, STATE OR
LOCAL  GOVERNMENTAL  AGENCY OR INSTRUMENTALITY PURSUANT TO A PROGRAM FOR
THE DEVELOPMENT OF AFFORDABLE HOUSING.
  (P) RULES. THE AGENCY MAY PROMULGATE RULES TO CARRY OUT THE PROVISIONS
OF THIS SUBDIVISION.

A. 7945                            11

  (Q) AUTHORITY OF CITY TO ENACT LOCAL LAW. EXCEPT AS  OTHERWISE  SPECI-
FIED IN THIS SUBDIVISION, A CITY TO WHICH THIS SUBDIVISION IS APPLICABLE
MAY  ENACT  A  LOCAL LAW TO RESTRICT, LIMIT OR CONDITION THE ELIGIBILITY
FOR OR THE SCOPE OR AMOUNT OF 421-A BENEFITS  IN  ANY  MANNER,  PROVIDED
THAT  SUCH  LOCAL LAW MAY NOT GRANT 421-A BENEFITS BEYOND THOSE PROVIDED
IN THIS SUBDIVISION AND PROVIDED FURTHER THAT SUCH LOCAL LAW  SHALL  NOT
TAKE EFFECT SOONER THAN ONE YEAR AFTER IT IS ENACTED.  THE PROVISIONS OF
SECTIONS  11-245  AND 11-245.1 OF THE ADMINISTRATIVE CODE OF THE CITY OF
NEW YORK OR OF ANY OTHER LOCAL LAW OF THE CITY OF  NEW  YORK  THAT  WERE
ENACTED  ON  OR  BEFORE THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS OF
TWO THOUSAND FIFTEEN THAT ADDED THIS PARAGRAPH SHALL NOT RESTRICT, LIMIT
OR CONDITION THE ELIGIBILITY FOR OR THE SCOPE OR AMOUNT OF  421-A  BENE-
FITS PURSUANT TO THIS SUBDIVISION.
  (R)  ELECTION.  NOTWITHSTANDING  ANYTHING  IN  THIS SUBDIVISION TO THE
CONTRARY, A RENTAL PROJECT WITH A COMMENCEMENT DATE ON OR BEFORE  DECEM-
BER  THIRTY-FIRST,  TWO  THOUSAND FIFTEEN THAT HAS NOT RECEIVED BENEFITS
PURSUANT TO THIS SECTION PRIOR TO THE EFFECTIVE DATE OF THE  CHAPTER  OF
THE  LAWS  OF TWO THOUSAND FIFTEEN THAT ADDED THIS SUBDIVISION MAY ELECT
TO COMPLY WITH THIS SUBDIVISION AND RECEIVE 421-A BENEFITS  PURSUANT  TO
THIS SUBDIVISION.
  17. (A) DEFINITIONS. FOR PURPOSES OF THIS SUBDIVISION:
  (I)  "AFFORDABLE  HOUSING  EIGHTY  PERCENT  UNITS" SHALL MEAN DWELLING
UNITS THAT: (A) ARE SITUATED WITHIN THE EXTENDED AFFORDABILITY PROPERTY;
(B) UPON INITIAL RENTAL AND UPON  EACH  SUBSEQUENT  RENTAL  FOLLOWING  A
VACANCY  DURING  THE  EXTENDED AFFORDABILITY PERIOD, ARE EACH AFFORDABLE
AND RESTRICTED TO OCCUPANCY BY INDIVIDUALS OR FAMILIES  WHOSE  HOUSEHOLD
INCOME  DOES  NOT  EXCEED ONE HUNDRED PERCENT OF THE AREA MEDIAN INCOME,
ADJUSTED FOR FAMILY SIZE, AT THE  TIME  THAT  SUCH  HOUSEHOLD  INITIALLY
OCCUPIES  SUCH  DWELLING UNIT; AND (C) UPON INITIAL RENTAL AND UPON EACH
SUBSEQUENT RENTAL FOLLOWING A VACANCY DURING THE EXTENDED  AFFORDABILITY
PERIOD, ARE COLLECTIVELY AFFORDABLE AND RESTRICTED TO OCCUPANCY BY INDI-
VIDUALS OR FAMILIES WHOSE HOUSEHOLD INCOME DOES NOT EXCEED AN AVERAGE OF
EIGHTY  PERCENT  OF THE AREA MEDIAN INCOME, ADJUSTED FOR FAMILY SIZE, AT
THE TIME THAT SUCH HOUSEHOLD INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (II) "AFFORDABLE HOUSING ONE HUNDRED THIRTY PERCENT UNITS" SHALL  MEAN
DWELLING  UNITS  THAT: (A) ARE SITUATED WITHIN AN EXTENDED AFFORDABILITY
PROPERTY; AND (B) UPON INITIAL RENTAL AND UPON  EACH  SUBSEQUENT  RENTAL
FOLLOWING  A  VACANCY DURING THE EXTENDED AFFORDABILITY PERIOD, ARE EACH
AFFORDABLE AND RESTRICTED TO OCCUPANCY BY INDIVIDUALS OR FAMILIES  WHOSE
HOUSEHOLD  INCOME DOES NOT EXCEED ONE HUNDRED THIRTY PERCENT OF THE AREA
MEDIAN INCOME, ADJUSTED FOR FAMILY SIZE, AT THE TIME THAT SUCH HOUSEHOLD
INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (III) "AFFORDABLE HOUSING UNIT" SHALL MEAN, COLLECTIVELY AND  INDIVID-
UALLY,  AFFORDABLE  HOUSING  EIGHTY PERCENT UNITS AND AFFORDABLE HOUSING
ONE HUNDRED THIRTY PERCENT UNITS.
  (IV) "AGENCY" SHALL MEAN THE DEPARTMENT OF  HOUSING  PRESERVATION  AND
DEVELOPMENT.
  (V)  "APPLICATION"  SHALL  MEAN  AN  APPLICATION FOR EXTENDED BENEFITS
PURSUANT TO THIS SUBDIVISION.
  (VI)"BUILDING SERVICE EMPLOYEE" SHALL MEAN ANY PERSON WHO IS REGULARLY
EMPLOYED AT, AND PERFORMS WORK IN CONNECTION WITH THE  CARE  OR  MAINTE-
NANCE OF, AN EXTENDED AFFORDABILITY PROPERTY, INCLUDING, BUT NOT LIMITED
TO,  A  WATCHMAN,  GUARD,  DOORMAN,  BUILDING CLEANER, PORTER, HANDYMAN,
JANITOR, GARDENER, GROUNDSKEEPER, ELEVATOR  OPERATOR  AND  STARTER,  AND
WINDOW  CLEANER,  BUT  NOT INCLUDING PERSONS REGULARLY SCHEDULED TO WORK
FEWER THAN EIGHT HOURS PER WEEK IN THE EXTENDED AFFORDABILITY PROPERTY.

A. 7945                            12

  (VII) "COMMENCEMENT DATE" SHALL MEAN THE LATER OF: (A) THE  EXPIRATION
DATE; OR (B) THE RESTRICTIVE DECLARATION DATE.
  (VIII)  "EXPIRATION  DATE"  SHALL  MEAN  THE  DATE UPON WHICH BENEFITS
GRANTED TO A TWENTY YEAR BENEFIT PROPERTY OR  TWENTY-FIVE  YEAR  BENEFIT
PROPERTY  PURSUANT  TO  THIS  SECTION PRIOR TO THE EFFECTIVE DATE OF THE
CHAPTER OF THE LAWS OF TWO THOUSAND FIFTEEN THAT ADDED THIS  SUBDIVISION
WOULD EXPIRE.
  (IX)  "EXTENDED  AFFORDABILITY PERIOD" SHALL MEAN, NOTWITHSTANDING ANY
EARLIER TERMINATION OR REVOCATION OF THE EXTENDED  BENEFIT,  THE  PERIOD
COMMENCING  UPON  THE  COMMENCEMENT  DATE  AND ENDING: (A) FIFTEEN YEARS
THEREAFTER FOR A TWENTY YEAR BENEFIT PROPERTY; AND (B) TEN YEARS  THERE-
AFTER FOR A TWENTY-FIVE YEAR BENEFIT PROPERTY.
  (X) "EXTENDED AFFORDABILITY PROPERTY" SHALL MEAN A TWENTY YEAR BENEFIT
PROPERTY  OR  A TWENTY-FIVE YEAR BENEFIT PROPERTY THAT COMPLIES WITH THE
PROVISIONS OF THIS SUBDIVISION.
  (XI) "EXTENDED AFFORDABILITY REQUIREMENT" SHALL MEAN THAT, WITHIN  ANY
EXTENDED AFFORDABILITY PROPERTY: (A) NOT LESS THAN TWENTY PERCENT OF THE
DWELLING  UNITS ARE AFFORDABLE HOUSING EIGHTY PERCENT UNITS; AND (B) NOT
LESS THAN AN ADDITIONAL FIVE PERCENT OF THE DWELLING UNITS ARE  AFFORDA-
BLE HOUSING ONE HUNDRED THIRTY PERCENT UNITS.
  (XII)  "EXTENDED  BENEFIT"  SHALL MEAN, FOR ANY EXTENDED AFFORDABILITY
PROPERTY, A FIFTY PERCENT EXEMPTION FROM REAL PROPERTY  TAXATION,  OTHER
THAN  ASSESSMENTS FOR LOCAL IMPROVEMENTS, FOR THE EXTENDED AFFORDABILITY
PERIOD.
  (XIII) "FISCAL OFFICER" SHALL MEAN THE COMPTROLLER OR OTHER  ANALOGOUS
OFFICER IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE.
  (XIV)  "FLOOR AREA" SHALL MEAN "FLOOR AREA" AS DEFINED IN THE NEW YORK
CITY ZONING RESOLUTION.
  (XV) "MULTIPLE DWELLING" SHALL HAVE  THE  MEANING  SET  FORTH  IN  THE
MULTIPLE DWELLING LAW.
  (XVI)  "RESIDENTIAL TAX LOT" SHALL MEAN A TAX LOT THAT CONTAINS DWELL-
ING UNITS.
  (XVII) "RESTRICTIVE DECLARATION" SHALL MEAN A DOCUMENT EXECUTED BY ALL
PARTIES  IN  INTEREST  TO  THE  EXTENDED  AFFORDABILITY  PROPERTY  WHICH
PROVIDES  THAT,  DURING  THE EXTENDED AFFORDABILITY PERIOD, THE EXTENDED
AFFORDABILITY PROPERTY SHALL  COMPLY  WITH  THE  EXTENDED  AFFORDABILITY
REQUIREMENT.
  (XVIII)  "RESTRICTIVE DECLARATION DATE" SHALL MEAN THE DATE UPON WHICH
THE RESTRICTIVE DECLARATION IS RECORDED AGAINST THE EXTENDED AFFORDABIL-
ITY PROPERTY.
  (XIX) "TWENTY YEAR BENEFIT PROPERTY" SHALL MEAN  A  MULTIPLE  DWELLING
THAT  COMMENCED CONSTRUCTION PRIOR TO JULY FIRST, TWO THOUSAND EIGHT AND
THAT WAS GRANTED BENEFITS PURSUANT TO THIS SECTION PRIOR TO  THE  EFFEC-
TIVE  DATE OF THE CHAPTER OF THE LAWS OF TWO THOUSAND FIFTEEN THAT ADDED
THIS SUBDIVISION DUE TO ITS COMPLIANCE WITH THE REQUIREMENTS OF  ITEM  B
OF  CLAUSE  (A) OF SUBPARAGRAPH (IV) OF PARAGRAPH (A) OF SUBDIVISION TWO
OF THIS SECTION.
  (XX) "TWENTY-FIVE YEAR BENEFIT PROPERTY" SHALL MEAN A MULTIPLE  DWELL-
ING  THAT COMMENCED CONSTRUCTION PRIOR TO JULY FIRST, TWO THOUSAND EIGHT
AND THAT WAS GRANTED BENEFITS PURSUANT TO  THIS  SECTION  PRIOR  TO  THE
EFFECTIVE  DATE  OF THE CHAPTER OF THE LAWS OF TWO THOUSAND FIFTEEN THAT
ADDED THIS SUBDIVISION DUE TO ITS COMPLIANCE WITH  THE  REQUIREMENTS  OF
ITEM  B OF CLAUSE (D) OF SUBPARAGRAPH (III) OF PARAGRAPH (A) OF SUBDIVI-
SION TWO OF THIS SECTION.
  (B) BENEFIT. IN CITIES HAVING A POPULATION OF  ONE  MILLION  OR  MORE,
NOTWITHSTANDING  THE PROVISIONS OF ANY OTHER SUBDIVISION OF THIS SECTION

A. 7945                            13

OR OF ANY GENERAL, SPECIAL OR LOCAL LAW TO  THE  CONTRARY,  AN  EXTENDED
AFFORDABILITY  PROPERTY  SHALL BE GRANTED AN EXTENDED BENEFIT, PROVIDED,
HOWEVER, THAT SUCH EXTENDED BENEFIT SHALL BE AVAILABLE ONLY IF ALL RESI-
DENTIAL  TAX  LOTS  IN  SUCH  EXTENDED AFFORDABILITY PROPERTY OPERATE AS
RENTAL HOUSING.
  (C) TAX PAYMENTS. IN ADDITION TO ANY OTHER AMOUNTS PAYABLE PURSUANT TO
THIS SUBDIVISION,  THE  OWNER  OF  AN  EXTENDED  AFFORDABILITY  PROPERTY
RECEIVING  AN EXTENDED BENEFIT SHALL PAY, IN EACH TAX YEAR IN WHICH SUCH
EXTENDED BENEFIT IS IN EFFECT, REAL PROPERTY TAXES  AND  ASSESSMENTS  AS
FOLLOWS:
  (I) REAL PROPERTY TAXES ON THE ASSESSED VALUATION OF SUCH LAND AND ANY
IMPROVEMENTS  THEREON  IN  EFFECT  DURING  THE  TAX  YEAR  PRECEDING THE
COMMENCEMENT OF THE CONSTRUCTION OF SUCH EXTENDED AFFORDABILITY PROPERTY
WITHOUT REGARD TO ANY EXEMPTION OR ABATEMENT FROM REAL PROPERTY TAXATION
IN EFFECT PRIOR TO SUCH CONSTRUCTION WHICH REAL PROPERTY TAXES SHALL  BE
CALCULATED ON THE TAX RATE IN EFFECT AT THE TIME SUCH TAXES ARE DUE; AND
  (II) ALL ASSESSMENTS FOR LOCAL IMPROVEMENTS.
  (D)  LIMITATION  ON  BENEFITS  FOR NON-RESIDENTIAL SPACE. ANY EXTENDED
BENEFIT SHALL BE REDUCED BY THE PERCENTAGE OF AGGREGATE  FLOOR  AREA  OF
THE  EXTENDED  AFFORDABILITY  PROPERTY OCCUPIED BY COMMERCIAL, COMMUNITY
FACILITY, PARKING, AND ACCESSORY USES AS PROVIDED IN  PARAGRAPH  (D)  OF
SUBDIVISION TWO OF THIS SECTION.
  (E)  CALCULATION  OF BENEFIT. BASED ON THE CERTIFICATION OF THE AGENCY
CERTIFYING THE APPLICANT'S ELIGIBILITY FOR  THE  EXTENDED  BENEFIT,  THE
ASSESSORS SHALL CERTIFY TO THE COLLECTING OFFICER THE AMOUNT OF TAXES TO
BE EXEMPTED.
  (F) AFFORDABILITY REQUIREMENT. DURING THE EXTENDED AFFORDABILITY PERI-
OD,  AN  EXTENDED  AFFORDABILITY  PROPERTY MUST COMPLY WITH THE EXTENDED
AFFORDABILITY REQUIREMENT AND THE RESTRICTIVE DECLARATION. THE  EXTENDED
AFFORDABILITY  PROPERTY  SHALL  ALSO  COMPLY WITH ALL PROVISIONS OF THIS
PARAGRAPH DURING THE EXTENDED AFFORDABILITY PERIOD AND WITH SUBPARAGRAPH
(I) OF THIS PARAGRAPH BOTH DURING AND AFTER THE  EXTENDED  AFFORDABILITY
PERIOD TO THE EXTENT PROVIDED IN SUCH SUBPARAGRAPH.
  (I) NOTWITHSTANDING THE PROVISIONS OF ANY LOCAL LAW FOR THE STABILIZA-
TION  OF RENTS OR THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVEN-
TY-FOUR, THE RENTS OF  ALL  AFFORDABLE  HOUSING  UNITS  IN  AN  EXTENDED
AFFORDABILITY  PROPERTY  SHALL  BE  FULLY  SUBJECT TO CONTROL UNDER SUCH
LOCAL LAW OR SUCH ACT DURING THE EXTENDED AFFORDABILITY PERIOD, PROVIDED
THAT TENANTS HOLDING A LEASE AND IN OCCUPANCY OF SUCH AFFORDABLE HOUSING
UNITS IN AN EXTENDED AFFORDABILITY PROPERTY AT  THE  EXPIRATION  OF  THE
EXTENDED  AFFORDABILITY  PERIOD  SHALL  HAVE THE RIGHT TO REMAIN AS RENT
STABILIZED TENANTS FOR THE DURATION OF THEIR OCCUPANCY. UPON ANY VACANCY
OF AN AFFORDABLE HOUSING UNIT AFTER THE EXTENDED  AFFORDABILITY  PERIOD,
SUCH AFFORDABLE HOUSING UNIT SHALL REMAIN FULLY SUBJECT TO RENT STABILI-
ZATION  UNLESS  THE  OWNER IS ENTITLED TO REMOVE SUCH AFFORDABLE HOUSING
UNIT FROM RENT STABILIZATION UPON SUCH VACANCY BY REASON OF THE  MONTHLY
RENT EXCEEDING ANY LIMIT ESTABLISHED THEREUNDER.
  (II)  ALL RENT STABILIZATION REGISTRATIONS REQUIRED TO BE FILED PURSU-
ANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL  CONTAIN  A  DESIGNATION
THAT SPECIFICALLY IDENTIFIES AFFORDABLE HOUSING UNITS COMPLYING WITH THE
EXTENDED  AFFORDABILITY  REQUIREMENT AS "421-A AFFORDABLE HOUSING UNITS"
AND SHALL CONTAIN AN EXPLANATION OF THE REQUIREMENTS THAT APPLY  TO  ALL
SUCH AFFORDABLE HOUSING UNITS.
  (III)  FAILURE  TO  COMPLY  WITH THE PROVISIONS OF THIS PARAGRAPH THAT
REQUIRE THE MAINTENANCE, RENT STABILIZATION AND OCCUPANCY OF  AFFORDABLE
HOUSING  UNITS  IN  AN  EXTENDED  AFFORDABILITY PROPERTY SHALL RESULT IN

A. 7945                            14

REVOCATION OF THE EXTENDED BENEFIT FOR THE PERIOD  OF  SUCH  NON-COMPLI-
ANCE.
  (IV)  NOTHING IN THIS SUBDIVISION SHALL: (A) PROHIBIT THE OCCUPANCY OF
AN AFFORDABLE HOUSING UNIT BY INDIVIDUALS OR FAMILIES  WHOSE  INCOME  AT
ANY  TIME IS LESS THAN THE MAXIMUM PERCENTAGE OF THE AREA MEDIAN INCOME,
ADJUSTED FOR FAMILY SIZE, SPECIFIED FOR  SUCH  AFFORDABLE  HOUSING  UNIT
PURSUANT  TO  THIS SUBDIVISION; OR (B) PROHIBIT THE OWNER OF AN EXTENDED
AFFORDABILITY PROPERTY FROM REQUIRING, UPON INITIAL RENTAL OR  UPON  ANY
RENTAL FOLLOWING A VACANCY, THE OCCUPANCY OF ANY AFFORDABLE HOUSING UNIT
BY SUCH LOWER INCOME INDIVIDUALS OR FAMILIES.
  (V)  UPON  EACH  VACANCY, AN AFFORDABLE HOUSING UNIT SHALL PROMPTLY BE
OFFERED FOR RENTAL BY INDIVIDUALS OR  FAMILIES  WHOSE  INCOME  DOES  NOT
EXCEED  THE  MAXIMUM  PERCENTAGE OF THE AREA MEDIAN INCOME, ADJUSTED FOR
FAMILY SIZE, SPECIFIED FOR SUCH AFFORDABLE HOUSING UNIT PURSUANT TO THIS
SUBDIVISION AND WHO INTEND TO OCCUPY SUCH  AFFORDABLE  HOUSING  UNIT  AS
THEIR  PRIMARY  RESIDENCE.  AN AFFORDABLE HOUSING UNIT SHALL NOT BE: (A)
RENTED TO A CORPORATION, PARTNERSHIP OR OTHER ENTITY; OR  (B)  HELD  OFF
THE  MARKET  FOR A PERIOD LONGER THAN IS REASONABLY NECESSARY TO PERFORM
REPAIRS NEEDED TO MAKE SUCH AFFORDABLE HOUSING UNIT AVAILABLE FOR  OCCU-
PANCY.
  (VI)  AN  AFFORDABLE  HOUSING UNIT SHALL NOT BE RENTED ON A TEMPORARY,
TRANSIENT OR SHORT-TERM BASIS. EVERY LEASE AND RENEWAL  THEREOF  FOR  AN
AFFORDABLE  HOUSING UNIT SHALL BE FOR A TERM OF ONE OR TWO YEARS, AT THE
OPTION OF THE TENANT.
  (VII) AN AFFORDABLE HOUSING UNIT SHALL NOT BE CONVERTED TO COOPERATIVE
OR CONDOMINIUM OWNERSHIP.
  (VIII) THE AGENCY MAY ESTABLISH BY RULE SUCH REQUIREMENTS AS THE AGEN-
CY DEEMS NECESSARY OR APPROPRIATE FOR: (A) THE MARKETING  OF  AFFORDABLE
HOUSING UNITS; AND (B) MONITORING COMPLIANCE WITH THE PROVISIONS OF THIS
PARAGRAPH.  SUCH  REQUIREMENTS  MAY INCLUDE, BUT NEED NOT BE LIMITED TO,
RETAINING A MONITOR APPROVED BY THE AGENCY AND PAID FOR BY THE OWNER.
  (G) BUILDING SERVICE EMPLOYEES.  (I) FOR THE PURPOSES  OF  THIS  PARA-
GRAPH,  "APPLICANT"  SHALL  MEAN AN APPLICANT FOR EXTENDED BENEFITS, ANY
SUCCESSOR TO SUCH APPLICANT, OR ANY EMPLOYER OF BUILDING SERVICE EMPLOY-
EES FOR SUCH APPLICANT,  INCLUDING,  BUT  NOT  LIMITED  TO,  A  PROPERTY
MANAGEMENT COMPANY OR CONTRACTOR.
  (II)  ALL  BUILDING SERVICE EMPLOYEES EMPLOYED BY THE APPLICANT AT THE
EXTENDED AFFORDABILITY PROPERTY SHALL RECEIVE THE APPLICABLE  PREVAILING
WAGE FOR THE ENTIRE EXTENDED AFFORDABILITY PERIOD.
  (III)  THE  FISCAL  OFFICER  SHALL  HAVE  THE  POWER  TO  ENFORCE  THE
PROVISIONS OF THIS PARAGRAPH. IN ENFORCING SUCH PROVISIONS,  THE  FISCAL
OFFICER SHALL HAVE THE POWER:
  (A)  TO  INVESTIGATE OR CAUSE AN INVESTIGATION TO BE MADE TO DETERMINE
THE PREVAILING WAGES FOR BUILDING  SERVICE  EMPLOYEES;  IN  MAKING  SUCH
INVESTIGATION,  THE  FISCAL  OFFICER MAY UTILIZE WAGE AND FRINGE BENEFIT
DATA FROM VARIOUS SOURCES, INCLUDING,  BUT  NOT  LIMITED  TO,  DATA  AND
DETERMINATIONS OF FEDERAL, STATE OR OTHER GOVERNMENTAL AGENCIES;
  (B)  TO  INSTITUTE  AND CONDUCT INSPECTIONS AT THE SITE OF THE WORK OR
ELSEWHERE;
  (C) TO EXAMINE THE BOOKS, DOCUMENTS  AND  RECORDS  PERTAINING  TO  THE
WAGES  PAID  TO,  AND  THE  HOURS OF WORK PERFORMED BY, BUILDING SERVICE
EMPLOYEES;
  (D) TO HOLD HEARINGS AND, IN CONNECTION THEREWITH, TO ISSUE SUBPOENAS,
ADMINISTER OATHS AND EXAMINE WITNESSES; THE ENFORCEMENT  OF  A  SUBPOENA
ISSUED UNDER THIS PARAGRAPH SHALL BE REGULATED BY THE CIVIL PRACTICE LAW
AND RULES;

A. 7945                            15

  (E) TO MAKE A CLASSIFICATION BY CRAFT, TRADE OR OTHER GENERALLY RECOG-
NIZED  OCCUPATIONAL  CATEGORY  OF  THE BUILDING SERVICE EMPLOYEES AND TO
DETERMINE WHETHER SUCH WORK HAS BEEN PERFORMED BY THE  BUILDING  SERVICE
EMPLOYEES IN SUCH CLASSIFICATION;
  (F)  TO REQUIRE THE APPLICANT TO FILE WITH THE FISCAL OFFICER A RECORD
OF THE WAGES ACTUALLY PAID BY SUCH APPLICANT  TO  THE  BUILDING  SERVICE
EMPLOYEES AND OF THEIR HOURS OF WORK;
  (G)  TO  DELEGATE  ANY OF THE FOREGOING POWERS TO HIS OR HER DEPUTY OR
OTHER AUTHORIZED REPRESENTATIVE; AND
  (H) TO PROMULGATE RULES AS HE OR SHE SHALL CONSIDER NECESSARY FOR  THE
PROPER  EXECUTION  OF  THE DUTIES, RESPONSIBILITIES AND POWERS CONFERRED
UPON HIM OR HER BY THE PROVISIONS OF THIS SUBPARAGRAPH.
  (IV) IF THE FISCAL OFFICER FINDS THAT  THE  APPLICANT  HAS  FAILED  TO
COMPLY  WITH  THE  PROVISIONS OF THIS PARAGRAPH, HE OR SHE SHALL PRESENT
EVIDENCE OF SUCH NONCOMPLIANCE TO THE AGENCY.
  (V) SUBPARAGRAPH (II) OF THIS PARAGRAPH SHALL NOT BE APPLICABLE TO:
  (A) AN EXTENDED AFFORDABILITY PROPERTY  CONTAINING  LESS  THAN  THIRTY
DWELLING UNITS; OR
  (B)  AN  EXTENDED  AFFORDABILITY PROPERTY IN WHICH ALL OF THE DWELLING
UNITS ARE AFFORDABLE HOUSING UNITS AND NOT LESS THAN  FIFTY  PERCENT  OF
SUCH  AFFORDABLE HOUSING UNITS, UPON INITIAL RENTAL AND UPON EACH SUBSE-
QUENT RENTAL FOLLOWING A VACANCY DURING THE EXTENDED AFFORDABILITY PERI-
OD, ARE AFFORDABLE TO AND RESTRICTED  TO  OCCUPANCY  BY  INDIVIDUALS  OR
FAMILIES  WHOSE HOUSEHOLD INCOME DOES NOT EXCEED ONE HUNDRED TWENTY-FIVE
PERCENT OF THE AREA MEDIAN INCOME, ADJUSTED FOR FAMILY SIZE, AT THE TIME
THAT SUCH HOUSEHOLD INITIALLY OCCUPIES SUCH DWELLING UNIT.
  (H) CONCURRENT EXEMPTIONS OR  ABATEMENTS.  AN  EXTENDED  AFFORDABILITY
PROPERTY  RECEIVING  AN EXTENDED BENEFIT SHALL NOT RECEIVE ANY EXEMPTION
FROM OR ABATEMENT OF REAL PROPERTY TAXATION UNDER ANY OTHER LAW.
  (I)  VOLUNTARY  RENUNCIATION  OR  TERMINATION.   NOTWITHSTANDING   THE
PROVISIONS  OF  ANY  GENERAL,  SPECIAL  OR LOCAL LAW TO THE CONTRARY, AN
OWNER SHALL NOT BE ENTITLED TO  VOLUNTARILY  RENOUNCE  OR  TERMINATE  AN
EXTENDED  BENEFIT  UNLESS  THE  AGENCY  AUTHORIZES  SUCH RENUNCIATION OR
TERMINATION IN CONNECTION WITH THE COMMENCEMENT OF A NEW  TAX  EXEMPTION
PURSUANT  TO  EITHER  THE  PRIVATE  HOUSING  FINANCE LAW OR SECTION FOUR
HUNDRED TWENTY-C OF THIS TITLE.
  (J) TERMINATION OR REVOCATION. THE AGENCY MAY TERMINATE OR REVOKE  THE
EXTENDED  BENEFIT  FOR  NONCOMPLIANCE  WITH  THIS  SUBDIVISION.  IF  THE
EXTENDED BENEFIT IS TERMINATED OR REVOKED FOR  NONCOMPLIANCE  WITH  THIS
SUBDIVISION, ALL OF THE AFFORDABLE HOUSING UNITS SHALL REMAIN SUBJECT TO
THE  PROVISIONS  OF  ANY LOCAL LAW FOR THE STABILIZATION OF RENTS OR THE
EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR AND  ALL  OTHER
REQUIREMENTS  OF  THIS SUBDIVISION FOR THE ENTIRE EXTENDED AFFORDABILITY
PERIOD AND ANY ADDITIONAL PERIOD EXPRESSLY PROVIDED IN THIS SUBDIVISION,
AS IF THE EXTENDED BENEFIT HAD NOT BEEN TERMINATED OR REVOKED.
  (K) POWERS CUMULATIVE. THE ENFORCEMENT PROVISIONS OF THIS  SUBDIVISION
SHALL  NOT  BE EXCLUSIVE, AND ARE IN ADDITION TO ANY OTHER RIGHTS, REME-
DIES, OR ENFORCEMENT POWERS SET FORTH IN ANY OTHER LAW OR  AVAILABLE  AT
LAW OR IN EQUITY.
  (L)  MULTIPLE TAX LOTS. IF AN EXTENDED AFFORDABILITY PROPERTY CONTAINS
MULTIPLE TAX LOTS, AN APPLICATION MAY BE SUBMITTED WITH RESPECT  TO  ONE
OR  MORE OF SUCH TAX LOTS. THE AGENCY SHALL DETERMINE ELIGIBILITY FOR AN
EXTENDED BENEFIT BASED UPON THE TAX LOTS INCLUDED IN SUCH APPLICATION.
  (M) APPLICATIONS.  (I) THE APPLICATION WITH RESPECT  TO  ANY  EXTENDED
AFFORDABILITY  PROPERTY  SHALL  INCLUDE  A  CERTIFICATION  THAT: (A) THE
RESTRICTIVE DECLARATION HAS BEEN RECORDED AGAINST THE EXTENDED  AFFORDA-

A. 7945                            16

BILITY  PROPERTY;  AND  (B)  THE  EXTENDED  AFFORDABILITY PROPERTY IS IN
COMPLIANCE WITH SUCH RESTRICTIVE DECLARATION AND THIS SUBDIVISION.
  (II)  THE APPLICATION WITH RESPECT TO ANY EXTENDED AFFORDABILITY PROP-
ERTY SHALL BE FILED WITH THE AGENCY ON  OR  BEFORE  THE  LATER  OF:  (A)
DECEMBER  THIRTY-FIRST,  TWO  THOUSAND  SIXTEEN;  OR (B) EIGHTEEN MONTHS
AFTER THE EXPIRATION DATE.
  (III) NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR  LOCAL
LAW TO THE CONTRARY, THE AGENCY MAY REQUIRE BY RULE THAT APPLICATIONS BE
FILED ELECTRONICALLY.
  (IV)  THE AGENCY MAY RELY ON CERTIFICATION BY AN ARCHITECT OR ENGINEER
SUBMITTED BY AN APPLICANT IN CONNECTION WITH THE FILING OF  AN  APPLICA-
TION.  A  FALSE  CERTIFICATION  BY  SUCH  ARCHITECT OR ENGINEER SHALL BE
DEEMED TO BE PROFESSIONAL  MISCONDUCT  PURSUANT  TO  SECTION  SIXTY-FIVE
HUNDRED  NINE  OF  THE  EDUCATION LAW. ANY LICENSEE FOUND GUILTY OF SUCH
MISCONDUCT UNDER THE PROCEDURES PRESCRIBED IN SECTION SIXTY-FIVE HUNDRED
TEN OF THE EDUCATION LAW SHALL BE SUBJECT TO THE PENALTIES PRESCRIBED IN
SECTION SIXTY-FIVE HUNDRED ELEVEN OF THE EDUCATION LAW, AND SHALL THERE-
AFTER BE INELIGIBLE TO SUBMIT A CERTIFICATION PURSUANT TO THIS  SUBDIVI-
SION.
  (N)  FILING FEE. THE AGENCY MAY REQUIRE A FILING FEE OF THREE THOUSAND
DOLLARS PER DWELLING UNIT IN CONNECTION WITH ANY APPLICATION.
  (O) RULES. THE AGENCY MAY PROMULGATE RULES TO CARRY OUT THE PROVISIONS
OF THIS SUBDIVISION.
  (P) AUTHORITY OF CITY TO ENACT LOCAL LAW. EXCEPT AS  OTHERWISE  SPECI-
FIED IN THIS SUBDIVISION, A CITY TO WHICH THIS SUBDIVISION IS APPLICABLE
MAY  ENACT  A  LOCAL LAW TO RESTRICT, LIMIT OR CONDITION THE ELIGIBILITY
FOR OR THE SCOPE OR AMOUNT OF EXTENDED BENEFITS IN ANY MANNER,  PROVIDED
THAT  SUCH  LOCAL  LAW  MAY  NOT  GRANT  EXTENDED  BENEFITS BEYOND THOSE
PROVIDED IN THIS SUBDIVISION AND PROVIDED FURTHER THAT  SUCH  LOCAL  LAW
SHALL  NOT  TAKE  EFFECT  SOONER  THAN ONE YEAR AFTER IT IS ENACTED. THE
PROVISIONS OF SECTIONS 11-245 AND 11-245.1 OF THE ADMINISTRATIVE CODE OF
THE CITY OF NEW YORK OR OF ANY OTHER LOCAL LAW OF THE CITY OF  NEW  YORK
THAT  WERE ENACTED ON OR BEFORE THE EFFECTIVE DATE OF THE CHAPTER OF THE
LAWS OF TWO  THOUSAND  FIFTEEN  THAT  ADDED  THIS  PARAGRAPH  SHALL  NOT
RESTRICT,  LIMIT OR CONDITION THE ELIGIBILITY FOR OR THE SCOPE OR AMOUNT
OF EXTENDED BENEFITS PURSUANT TO THIS SUBDIVISION.
  S 2. The opening paragraph of clause (A) of subparagraph (iv) of para-
graph (a) of subdivision 2 of section 421-a of  the  real  property  tax
law,  as  amended  by  section 41 of part B of chapter 97 of the laws of
2011, is amended to read as follows:
  Unless excluded by local law, in the city of New York, the benefits of
this subparagraph shall be available in the borough of Manhattan for new
multiple dwellings on tax lots now existing or hereafter  created  south
of  or adjacent to either side of one hundred tenth street that commence
construction after July first, nineteen hundred  ninety-two  and  ON  OR
before  [June  fifteenth]  DECEMBER  THIRTY-FIRST, two thousand fifteen,
PROVIDED, HOWEVER, THAT (1) SUCH A MULTIPLE DWELLING RECEIVES ITS  FIRST
TEMPORARY OR PERMANENT CERTIFICATE OF OCCUPANCY COVERING ALL RESIDENTIAL
AREAS ON OR BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND NINETEEN, AND (2)
SOLELY  FOR  PURPOSES  OF  DETERMINING  WHETHER  THIS CLAUSE APPLIES AND
NOTWITHSTANDING ANY LOCAL LAW TO THE CONTRARY, "COMMENCE" SHALL MEAN THE
DATE UPON WHICH EXCAVATION AND  CONSTRUCTION  OF  INITIAL  FOOTINGS  AND
FOUNDATIONS  LAWFULLY  BEGINS  IN GOOD FAITH OR, FOR AN ELIGIBLE CONVER-
SION, THE DATE UPON WHICH THE ACTUAL  CONSTRUCTION  OF  THE  CONVERSION,
ALTERATION  OR  IMPROVEMENT  OF  THE  PRE-EXISTING BUILDING OR STRUCTURE
LAWFULLY BEGINS IN GOOD FAITH, only if:

A. 7945                            17

  S 3. Subparagraph (ii) of paragraph (c) of subdivision  2  of  section
421-a  of  the real property tax law, as amended by section 42 of part B
of chapter 97 of the laws of 2011, is amended to read as follows:
  (ii)  construction  is commenced after January first, nineteen hundred
seventy-five and ON OR before [June  fifteenth]  DECEMBER  THIRTY-FIRST,
two thousand fifteen, provided, however, that (A) SUCH A MULTIPLE DWELL-
ING  RECEIVES  ITS FIRST TEMPORARY OR PERMANENT CERTIFICATE OF OCCUPANCY
COVERING ALL RESIDENTIAL AREAS ON OR BEFORE DECEMBER  THIRTY-FIRST,  TWO
THOUSAND  NINETEEN,  (B) SOLELY FOR PURPOSES OF DETERMINING WHETHER THIS
SUBPARAGRAPH APPLIES AND NOTWITHSTANDING ANY LOCAL LAW TO THE  CONTRARY,
"COMMENCE" SHALL MEAN THE DATE UPON WHICH EXCAVATION AND CONSTRUCTION OF
INITIAL  FOOTINGS  AND FOUNDATIONS LAWFULLY BEGINS IN GOOD FAITH OR, FOR
AN ELIGIBLE CONVERSION, THE DATE UPON WHICH THE ACTUAL  CONSTRUCTION  OF
THE  CONVERSION,  ALTERATION OR IMPROVEMENT OF THE PRE-EXISTING BUILDING
OR STRUCTURE LAWFULLY BEGINS IN GOOD FAITH, AND  (C)  such  commencement
period shall not apply to multiple dwellings eligible for benefits under
subparagraph (iv) of paragraph (a) of this subdivision;
  S  4.  Subdivision  2 of section 421-a of the real property tax law is
amended by adding a new paragraph (j) to read as follows:
  (J)  VOLUNTARY  RENUNCIATION  OR  TERMINATION.   NOTWITHSTANDING   THE
PROVISIONS  OF  ANY  GENERAL,  SPECIAL  OR LOCAL LAW TO THE CONTRARY, AN
OWNER SHALL NOT BE ENTITLED TO VOLUNTARILY RENOUNCE OR TERMINATE ANY TAX
EXEMPTION GRANTED PURSUANT TO THIS SUBDIVISION UNLESS THE LOCAL  HOUSING
AGENCY  AUTHORIZES  SUCH  RENUNCIATION OR TERMINATION IN CONNECTION WITH
THE COMMENCEMENT OF A NEW TAX EXEMPTION PURSUANT TO EITHER  THE  PRIVATE
HOUSING FINANCE LAW OR SECTION FOUR HUNDRED TWENTY-C OF THIS TITLE.
  S  5.  The  opening paragraph of subdivision 3 of section 421-a of the
real property tax law, as amended by chapter 655 of the laws of 1978, is
amended to read as follows:
  A. Application forms for exemption under this section shall  be  filed
with the assessors between February first and March fifteenth and, based
on the certification of the local housing agency as herein provided, the
assessors shall certify to the collecting officer the amount of taxes to
be  abated.  If  there  be in a city of one million population or more a
department of housing preservation and development,  the  term  "housing
agency"  shall  mean  only  such  department of housing preservation and
development. No such application shall  be  accepted  by  the  assessors
unless accompanied by a certificate of the local housing agency certify-
ing the applicant's eligibility pursuant to subdivisions two and four of
this  section.  No  such certification of eligibility shall be issued by
the local housing  agency  until  such  agency  determines  the  initial
adjusted  monthly rent to be paid by tenants residing in rental dwelling
units  contained  within  the  multiple  dwelling  and  the  comparative
adjusted  monthly  rent that would have to be paid by such tenants if no
tax exemption were applicable as provided by this section.  The  initial
adjusted  monthly  rent will be certified by the local housing agency as
the first rent for the subject dwelling units. A copy  of  such  certif-
ication with respect to such units shall be attached by the applicant to
the  first  effective lease or occupancy agreement. The initial adjusted
monthly rent shall reflect the full tax exemption benefits  as  approved
by the agency.
  S  6.  Subdivision  3 of section 421-a of the real property tax law is
amended by adding a new paragraph b to read as follows:
  B. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL LAW
TO THE CONTRARY, THE LOCAL HOUSING  AGENCY  MAY  REQUIRE  BY  RULE  THAT
APPLICATIONS BE FILED ELECTRONICALLY.

A. 7945                            18

  S 7. Paragraph (a) of subdivision 6 of section 421-a of the real prop-
erty  tax  law  is amended by adding three new subparagraphs (iii), (iv)
and (v) to read as follows:
  (III)  "COMMENCEMENT DATE" SHALL MEAN, WITH RESPECT TO ANY BUILDING IN
A COVERED PROJECT AND NOTWITHSTANDING ANY LOCAL LAW TO THE CONTRARY, THE
DATE UPON WHICH EXCAVATION AND  CONSTRUCTION  OF  INITIAL  FOOTINGS  AND
FOUNDATIONS  LAWFULLY  BEGINS  IN GOOD FAITH OR, FOR AN ELIGIBLE CONVER-
SION, THE DATE UPON WHICH THE ACTUAL  CONSTRUCTION  OF  THE  CONVERSION,
ALTERATION  OR  IMPROVEMENT  OF  THE  PRE-EXISTING BUILDING OR STRUCTURE
LAWFULLY BEGINS IN GOOD FAITH.
  (IV) "COMPLETION DATE" SHALL  MEAN  THE  DATE  UPON  WHICH  THE  LOCAL
DEPARTMENT  OF BUILDINGS ISSUES THE FIRST TEMPORARY OR PERMANENT CERTIF-
ICATE OF OCCUPANCY COVERING ALL RESIDENTIAL AREAS OF  A  BUILDING  IN  A
COVERED PROJECT.
  (V)  "COVERED  PROJECT AGREEMENT" SHALL MEAN AN AGREEMENT EXECUTED AND
RECORDED ON OR BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND  FIFTEEN,  AND
NOT  THEREAFTER  AMENDED  TO  INCLUDE  ADDITIONAL  REAL PROPERTY, BY AND
BETWEEN THE OWNERS OF THE REAL PROPERTY CONTAINING ALL OF THE AFFORDABLE
UNITS AND THE MARKET  UNITS  WHICH  WILL  CONSTITUTE  A  SINGLE  COVERED
PROJECT AS DEFINED PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH.
  S 8. Paragraph (b) of subdivision 6 of section 421-a of the real prop-
erty tax law, as added by chapter 110 of the laws of 2005, is amended to
read as follows:
  (b)  No  benefits  under  the  provisions  of  this  section  shall be
conferred on any BUILDING IN A covered project located in the Greenpoint
- Williamsburg waterfront exclusion area unless [such] THE REAL PROPERTY
CONTAINING SUCH BUILDING IS IDENTIFIED IN A COVERED  PROJECT  AGREEMENT,
AND  THE  COVERED  project  THAT  INCLUDES  SUCH  BUILDING shall provide
affordable housing for persons and families of low and  moderate  income
that meets one of the following conditions:
  (i)  not  less than twenty percent of the units in the covered project
are affordable to and occupied or available for occupancy by individuals
or families whose incomes at the time of initial occupancy do not exceed
eighty percent of the area median incomes adjusted for family size,  AND
AT  LEAST  ONE  BUILDING  IN SUCH COVERED PROJECT THAT CONTAINS NOT LESS
THAN TWENTY PERCENT OF ITS DWELLING UNITS MEETING THIS AFFORDABLE  HOUS-
ING   REQUIREMENT   HAS  A  COMMENCEMENT  DATE  ON  OR  BEFORE  DECEMBER
THIRTY-FIRST, TWO THOUSAND FIFTEEN AND ALL  OF  THE  BUILDINGS  IN  SUCH
COVERED  PROJECT THAT RECEIVE BENEFITS PURSUANT TO PARAGRAPH (F) OF THIS
SUBDIVISION HAVE A COMPLETION DATE ON  OR  BEFORE  JUNE  FIFTEENTH,  TWO
THOUSAND TWENTY-FIVE; or
  (ii) not less than ten percent of the units in the covered project are
affordable  to and occupied or available for occupancy by individuals or
families whose incomes at the time of initial occupancy  do  not  exceed
eighty  percent  of the area median incomes adjusted for family size and
not less than an additional fifteen percent of the units in the  covered
project  are  affordable  to  and occupied or available for occupancy by
individuals or families whose incomes at the time of  initial  occupancy
do not exceed one hundred twenty-five percent of the area median incomes
adjusted  for  family  size,  AND  AT LEAST ONE BUILDING IN SUCH COVERED
PROJECT THAT CONTAINS NOT LESS THAN TWENTY-FIVE PERCENT OF ITS  DWELLING
UNITS  MEETING  THIS  AFFORDABLE  HOUSING REQUIREMENT HAS A COMMENCEMENT
DATE ON OR BEFORE DECEMBER THIRTY-FIRST, TWO THOUSAND FIFTEEN AND ALL OF
THE BUILDINGS IN SUCH COVERED PROJECT THAT RECEIVE BENEFITS PURSUANT  TO
PARAGRAPH  (F)  OF  THIS SUBDIVISION HAVE A COMPLETION DATE ON OR BEFORE
JUNE FIFTEENTH, TWO THOUSAND TWENTY-FIVE.

A. 7945                            19

  S 9. Paragraph (f) of subdivision 6 of section 421-a of the real prop-
erty tax law, as added by chapter 110 of the laws of 2005, is amended to
read as follows:
  (f)  With  respect  to any covered project located entirely within the
Greenpoint - Williamsburg waterfront exclusion area, the period  of  tax
benefits  awarded  to  any building in such covered project shall be the
same as the period of tax benefits awarded under  clause  [(A)]  (D)  of
subparagraph  (iii) of paragraph (a) of subdivision two of this section.
With respect to any covered project which includes one or more buildings
located outside the Greenpoint - Williamsburg waterfront exclusion area,
the period of tax benefits awarded  to  any  building  in  such  covered
project  that is located within the Greenpoint - Williamsburg waterfront
exclusion area shall be the same as the period of tax  benefits  awarded
under  clause  (A)  of subparagraph (ii) of paragraph (a) of subdivision
two of this section.
  S 10. Subdivision 8 of section 421-a of the real property tax law,  as
added  by chapter 618 of the laws of 2007, subparagraph (i) of paragraph
(a) and paragraph (c) as amended by chapter 15  of  the  laws  of  2008,
paragraphs (d) and (e) as amended by chapter 619 of the laws of 2007, is
amended to read as follows:
  8. (a) As used in this subdivision, the following terms shall have the
following meanings:
  (i)  "APPLICANT"  MEANS  AN  APPLICANT  FOR  BENEFITS PURSUANT TO THIS
SECTION, ANY SUCCESSOR TO SUCH APPLICANT, OR ANY  EMPLOYER  OF  BUILDING
SERVICE  EMPLOYEES  FOR SUCH APPLICANT, INCLUDING, BUT NOT LIMITED TO, A
PROPERTY MANAGEMENT COMPANY OR CONTRACTOR.
  (II) "Building service employee" means any  person  who  is  regularly
employed  at a building who performs work in connection with the care or
maintenance of such building. "Building service employee" includes,  but
is  not  limited to [superintendent], watchman, guard, doorman, building
cleaner, porter, handyman, janitor,  gardener,  groundskeeper,  elevator
operator  and starter, and window cleaner, but shall not include persons
regularly scheduled to work fewer than  eight  hours  per  week  in  the
building.
  [(ii)  "Prevailing wage" means the wage determined by the fiscal offi-
cer to be prevailing for the various classes of building service employ-
ees in the locality pursuant to section two hundred thirty of the  labor
law.]
  (III)  "FISCAL OFFICER" MEANS THE COMPTROLLER OR OTHER ANALOGOUS OFFI-
CER IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE.
  (b) [No benefits  under  this  section  shall  be  conferred  for  any
construction  commenced on or after December twenty-eighth, two thousand
seven for any tax lots now existing or hereafter  created  except  where
the applicant agrees that all building service employees employed at the
building,  whether employed directly by the applicant or its successors,
or through a property management company or a contractor, shall  receive
the  applicable  prevailing  wage for the duration of the building's tax
exemption.] ALL BUILDING SERVICE EMPLOYEES EMPLOYED BY THE APPLICANT  IN
A   BUILDING   WHOSE   CONSTRUCTION   COMMENCED  ON  OR  AFTER  DECEMBER
TWENTY-EIGHTH, TWO THOUSAND SEVEN SHALL RECEIVE THE APPLICABLE  PREVAIL-
ING WAGE FOR THE DURATION OF BENEFITS PURSUANT TO THIS SECTION.
  (c)  [The limitations contained in paragraph] THE FISCAL OFFICER SHALL
HAVE THE POWER TO ENFORCE THE PROVISIONS OF THIS SUBDIVISION. IN ENFORC-
ING SUCH PROVISIONS, THE FISCAL OFFICER SHALL HAVE THE POWER:
  (I) TO INVESTIGATE OR CAUSE AN INVESTIGATION TO BE MADE  TO  DETERMINE
THE  PREVAILING  WAGES  FOR  BUILDING  SERVICE EMPLOYEES; IN MAKING SUCH

A. 7945                            20

INVESTIGATION, THE FISCAL OFFICER MAY UTILIZE WAGE  AND  FRINGE  BENEFIT
DATA  FROM  VARIOUS  SOURCES,  INCLUDING,  BUT  NOT LIMITED TO, DATA AND
DETERMINATIONS OF FEDERAL, STATE OR OTHER GOVERNMENTAL AGENCIES;
  (II)  TO  INSTITUTE AND CONDUCT INSPECTIONS AT THE SITE OF THE WORK OR
ELSEWHERE;
  (III) TO EXAMINE THE BOOKS, DOCUMENTS AND RECORDS  PERTAINING  TO  THE
WAGES  PAID  TO,  AND  THE  HOURS OF WORK PERFORMED BY, BUILDING SERVICE
EMPLOYEES;
  (IV) TO HOLD HEARINGS AND, IN CONNECTION THEREWITH, TO  ISSUE  SUBPOE-
NAS,  ADMINISTER  OATHS  AND  EXAMINE  WITNESSES;  THE  ENFORCEMENT OF A
SUBPOENA ISSUED UNDER THIS SUBDIVISION SHALL BE REGULATED BY  THE  CIVIL
PRACTICE LAW AND RULES;
  (V) TO MAKE A CLASSIFICATION BY CRAFT, TRADE OR OTHER GENERALLY RECOG-
NIZED  OCCUPATIONAL  CATEGORY  OF  THE BUILDING SERVICE EMPLOYEES AND TO
DETERMINE WHETHER SUCH WORK HAS BEEN PERFORMED BY THE  BUILDING  SERVICE
EMPLOYEES IN SUCH CLASSIFICATION;
  (VI) TO REQUIRE THE APPLICANT TO FILE WITH THE FISCAL OFFICER A RECORD
OF  THE  WAGES  ACTUALLY  PAID BY SUCH APPLICANT TO THE BUILDING SERVICE
EMPLOYEES AND OF THEIR HOURS OF WORK;
  (VII) TO DELEGATE ANY OF THE FOREGOING POWERS TO HIS OR HER DEPUTY  OR
OTHER AUTHORIZED REPRESENTATIVE; AND
  (VIII)  TO  PROMULGATE RULES AS HE OR SHE SHALL CONSIDER NECESSARY FOR
THE  PROPER  EXECUTION  OF  THE  DUTIES,  RESPONSIBILITIES  AND   POWERS
CONFERRED UPON HIM OR HER BY THE PROVISIONS OF THIS PARAGRAPH.
  (D)  IF  THE  FISCAL  OFFICER  FINDS  THAT THE APPLICANT HAS FAILED TO
COMPLY WITH THE PROVISIONS OF THIS SUBDIVISION, HE OR SHE SHALL  PRESENT
EVIDENCE OF SUCH NONCOMPLIANCE TO THE LOCAL HOUSING AGENCY.
  (E) PARAGRAPH (b) of this subdivision shall not be applicable to:
  (i) projects containing less than fifty dwelling units; or
  (ii)  buildings  where  the  local  housing  agency  certifies that at
initial occupancy at least fifty  percent  of  the  dwelling  units  are
affordable  to  individuals or families with a gross household income at
or below one hundred twenty-five percent of the area median  income  and
that  any  such  units  which  are  located  in rental buildings will be
subject to restrictions to insure that they will remain  affordable  for
the entire period during which they receive benefits under this section.
  [(d)]  (F)  The local housing agency shall prescribe appropriate sanc-
tions for failure to comply with the provisions of this subdivision.
  [(e)] (G) Solely for purposes of paragraph (b)  of  this  subdivision,
construction shall be deemed to have commenced when excavation or alter-
ation  has  begun  in  good  faith on the basis of approved construction
plans.
  [(f)] (H) The  [limitations  on]  eligibility  CRITERIA  for  benefits
contained in this subdivision shall be in addition to those contained in
any other law or regulation.
  S  11.  This  act  shall take effect immediately, except that sections
seven, eight and nine of this act shall be deemed to have been  in  full
force and effect on and after June 21, 2005, and section ten of this act
shall  be  deemed  to  have  been  in full force and effect on and after
August 17, 2007.
  S 2. Severability clause. If any clause, sentence, paragraph, subdivi-
sion, section or part of this act shall be  adjudged  by  any  court  of
competent  jurisdiction  to be invalid, such judgement shall not affect,
impair, or invalidate the remainder thereof, but shall  be  confined  in
its  operation  to the clause, sentence, paragraph, subdivision, section
or part thereof directly involved  in  the  controversy  in  which  such

A. 7945                            21

judgement  shall  have  been  rendered.  It is hereby declared to be the
intent of the legislature that this act would have been enacted even  if
such invalid provisions had not been included herein.
  S  3.  This act shall take effect immediately, provided, however, that
the applicable effective date of Parts A and B of this act shall  be  as
specifically set forth in the last section of such Parts.