Section 1. This act enacts into law major components of legislation
relating to Lower Manhattan and the city of New York. Each component is
wholly contained within a Part identified as Parts A through G. 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.
PART A
Section 1. The opening paragraph of paragraph (a) of subdivision 1 of
section 489 of the real property tax law, as amended by chapter 4 of the
laws of 2013, is amended to read as follows:
Any city to which the multiple dwelling law is applicable, acting
through its local legislative body or other governing agency, is hereby
authorized and empowered, to and including January first, two thousand
[fifteen] NINETEEN, to adopt and amend local laws or ordinances provid-
ing that any increase in assessed valuation of real property shall be
exempt from taxation for local purposes, as provided herein, to the
extent such increase results from:
S 2. The closing paragraph of subparagraph 6 of paragraph (a) of
subdivision 1 of section 489 of the real property tax law, as amended by
chapter 4 of the laws of 2013, is amended to read as follows:
Such conversion, alterations or improvements shall be completed within
thirty months after the date on which same shall be started except that
such thirty month limitation shall not apply to conversions of residen-
tial units which are registered with the loft board in accordance with
article seven-C of the multiple dwelling law pursuant to subparagraph
one of this paragraph. Notwithstanding the foregoing, a sixty month
period for completion shall be available for alterations or improvements
undertaken by a housing development fund company organized pursuant to
article eleven of the private housing finance law, which are carried out
with the substantial assistance of grants, loans or subsidies from any
federal, state or local governmental agency or instrumentality or which
are carried out in a property transferred from such city if alterations
and improvements are completed within seven years after the date of
transfer. In addition, the local housing agency is hereby empowered to
grant an extension of the period of completion for any project carried
out with the substantial assistance of grants, loans or subsidies from
any federal, state or local governmental agency or instrumentality, if
such alterations or improvements are completed within sixty months from
commencement of construction. Provided, further, that such conversion,
alterations or improvements shall in any event be completed prior to
June thirtieth, two thousand [fifteen] NINETEEN. Exemption for conver-
sions, alterations or improvements pursuant to subparagraph one, two,
three or four of this paragraph shall continue for a period not to
exceed fourteen years and begin no sooner than the first quarterly tax
bill immediately following the completion of such conversion, alter-
ations or improvements. Exemption for alterations or improvements pursu-
ant to this subparagraph or subparagraph five of this paragraph shall
continue for a period not to exceed thirty-four years and shall begin no
sooner than the first quarterly tax bill immediately following the
completion of such alterations or improvements. Such exemption shall be
equal to the increase in the valuation which is subject to exemption in
S. 6008 3
full or proportionally under this subdivision for ten or thirty years,
whichever is applicable. After such period of time, the amount of such
exempted assessed valuation of such improvements shall be reduced by
twenty percent in each succeeding year until the assessed value of the
improvements are fully taxable. Provided, however, exemption for any
conversion, alterations or improvements which are aided by a loan or
grant under article eight, eight-A, eleven, twelve, fifteen or twenty-
two of the private housing finance law, section six hundred ninety-six-a
or section ninety-nine-h of the general municipal law, or section three
hundred twelve of the housing act of nineteen hundred sixty-four (42
U.S.C.A. 1452b), or the Cranston-Gonzalez national affordable housing
act (42 U.S.C.A. 12701 et. seq.), or started after July first, nineteen
hundred eighty-three by a housing development fund company organized
pursuant to article eleven of the private housing finance law which are
carried out with the substantial assistance of grants, loans or subsi-
dies from any federal, state or local governmental agency or instrumen-
tality or which are carried out in a property transferred from any city
and where alterations and improvements are completed within seven years
after the date of transfer may commence at the beginning of any tax
quarter subsequent to the start of such conversion, alterations or
improvements and prior to the completion of such conversion, alterations
or improvements.
S 3. This act shall take effect immediately.
PART B
Section 1. Paragraphs (a) and (b) of subdivision 2 of section 467-a of
the real property tax law, as amended by chapter 4 of the laws of 2013,
are amended to read as follows:
(a) In a city having a population of one million or more, dwelling
units owned by unit owners who, as of the applicable taxable status
date, own no more than three dwelling units in any one property held in
the condominium form of ownership, shall be eligible to receive a
partial abatement of real property taxes, as set forth in paragraphs
(c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
sion; provided, however, that a property held in the condominium form of
ownership that is receiving complete or partial real property tax
exemption or tax abatement pursuant to any other provision of this chap-
ter or any other state or local law, except as provided in paragraph (f)
of this subdivision, shall not be eligible to receive a partial abate-
ment pursuant to this section; and provided, further, that sponsors
shall not be eligible to receive a partial abatement pursuant to this
section; and provided, further, that in the fiscal [year] YEARS commenc-
ing in calendar years two thousand twelve, two thousand thirteen, [or]
two thousand fourteen, TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO
THOUSAND SEVENTEEN OR TWO THOUSAND EIGHTEEN no more than a maximum of
three dwelling units owned by any unit owner in a single building, one
of which must be the primary residence of such unit owner, shall be
eligible to receive a partial abatement pursuant to paragraphs (d-1),
(d-2), (d-3) and (d-4) of this [section] SUBDIVISION.
(b) In a city having a population of one million or more, dwelling
units owned by tenant-stockholders who, as of the applicable taxable
status date, own no more than three dwelling units in any one property
held in the cooperative form of ownership, shall be eligible to receive
a partial abatement of real property taxes, as set forth in paragraphs
(c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
S. 6008 4
sion; provided, however, that a property held in the cooperative form of
ownership that is receiving complete or partial real property tax
exemption or tax abatement pursuant to any other provision of this chap-
ter or any other state or local law, except as provided in paragraph (f)
of this subdivision, shall not be eligible to receive a partial abate-
ment pursuant to this section; and provided, further, that sponsors
shall not be eligible to receive a partial abatement pursuant to this
section; and provided, further, that in the fiscal [year] YEARS commenc-
ing in calendar years two thousand twelve, two thousand thirteen [or],
two thousand fourteen, TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO
THOUSAND SEVENTEEN OR TWO THOUSAND EIGHTEEN no more than a maximum of
three dwelling units owned by any tenant-stockholder in a single build-
ing, one of which must be the primary residence of such tenant-stock-
holder, shall be eligible to receive a partial abatement pursuant to
paragraphs (d-1), (d-2), (d-3) and (d-4) of this [section] SUBDIVISION.
For purposes of this section, a tenant-stockholder of a cooperative
apartment corporation shall be deemed to own the dwelling unit which is
represented by his or her shares of stock in such corporation. Any
abatement so granted shall be credited by the appropriate taxing author-
ity against the tax due on the property as a whole. The reduction in
real property taxes received thereby shall be credited by the cooper-
ative apartment corporation against the amount of such taxes attribut-
able to eligible dwelling units at the time of receipt.
S 2. Paragraphs (d-1), (d-2), (d-3) and (d-4) of subdivision 2 of
section 467-a of the real property tax law, as added by chapter 4 of the
laws of 2013, are amended to read as follows:
(d-1) In the fiscal years commencing in calendar [year] YEARS two
thousand twelve, two thousand thirteen [and], two thousand fourteen, TWO
THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO THOUSAND SEVENTEEN AND TWO
THOUSAND EIGHTEEN, eligible dwelling units in property whose average
unit assessed value is less than or equal to fifty thousand dollars
shall receive a partial abatement of the real property taxes attribut-
able to or due on such dwelling units of twenty-five percent, twenty-six
and one-half percent and twenty-eight and one-tenth percent respective-
ly.
(d-2) In the fiscal years commencing in calendar [year] YEARS two
thousand twelve, two thousand thirteen [and], two thousand fourteen, TWO
THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO THOUSAND SEVENTEEN AND TWO
THOUSAND EIGHTEEN, eligible dwelling units in property whose average
unit assessed value is more than fifty thousand dollars, but less than
or equal to fifty-five thousand dollars, shall receive a partial abate-
ment of the real property taxes attributable to or due on such dwelling
units of twenty-two and one-half percent, twenty-three and eight-tenths
percent and twenty-five and two-tenths percent respectively.
(d-3) In the fiscal years commencing in calendar [year] YEARS two
thousand twelve, two thousand thirteen [and], two thousand fourteen, TWO
THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO THOUSAND SEVENTEEN AND TWO
THOUSAND EIGHTEEN, eligible dwelling units in property whose average
unit assessed value is more than fifty-five thousand dollars, but less
than or equal to sixty thousand dollars, shall receive a partial abate-
ment of the real property taxes attributable to or due on such dwelling
units of twenty percent, twenty-one and two-tenths percent, and twenty-
two and five-tenths percent respectively.
(d-4) In the fiscal years commencing in calendar [year] YEARS two
thousand twelve, two thousand thirteen [and], two thousand fourteen, TWO
THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO THOUSAND SEVENTEEN, TWO
S. 6008 5
THOUSAND EIGHTEEN AND TWO THOUSAND NINETEEN, eligible dwelling units in
property whose average unit assessed value is more than sixty thousand
dollars shall receive a partial abatement of the real property taxes
attributable to or due on such dwelling units of seventeen and one-half
percent.
S 3. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
erty tax law, as amended by chapter 4 of the laws of 2013, is amended to
read as follows:
(a) An application for an abatement pursuant to this section for the
fiscal year commencing in calendar year nineteen hundred ninety-six
shall be made no later than the fifteenth day of September, nineteen
hundred ninety-six. An application for an abatement pursuant to this
section for the fiscal year commencing in calendar year nineteen hundred
ninety-seven shall be made no later than the first day of April, nine-
teen hundred ninety-seven. An application for an abatement pursuant to
this section for the fiscal year commencing in calendar year nineteen
hundred ninety-eight shall be made no later than the first day of April,
nineteen hundred ninety-eight. An application for an abatement pursuant
to this section for the fiscal year commencing in calendar year nineteen
hundred ninety-nine shall be made in accordance with this subdivision
and subdivision three-a of this section. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand shall be made no later than the fifteenth day of February,
two thousand. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand one shall
be made in accordance with this subdivision and subdivision three-b of
this section. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand two shall
be made no later than the fifteenth day of February, two thousand two.
An application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand three shall be made no
later than the fifteenth day of February, two thousand three. An appli-
cation for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand four shall be made in accord-
ance with this subdivision and subdivision three-c of this section. An
application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand five shall be made no
later than the fifteenth day of February, two thousand five. An applica-
tion for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand six shall be made no later than
the fifteenth day of February, two thousand six. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand seven shall be made no later than the
fifteenth day of February, two thousand seven. An application for abate-
ment pursuant to this section for the fiscal year commencing in calendar
year two thousand eight shall be made in accordance with this subdivi-
sion and subdivision three-d of this section. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand nine shall be made no later than the
fifteenth day of February, two thousand nine. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand ten shall be made no later than the fifteenth
day of February, two thousand ten. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand eleven shall be made no later than the fifteenth day of
February, two thousand eleven. An application for an abatement pursuant
S. 6008 6
to this section for the fiscal years commencing in calendar years two
thousand twelve and two thousand thirteen shall be made in accordance
with subdivision three-e of this section. The date or dates by which
applications for an abatement pursuant to this section shall be made for
the fiscal [year] YEARS beginning in calendar [year] YEARS two thousand
fourteen, TWO THOUSAND FIFTEEN, TWO THOUSAND SIXTEEN, TWO THOUSAND
SEVENTEEN AND TWO THOUSAND EIGHTEEN shall be established by the commis-
sioner of finance by rule, provided that such date or dates shall not be
later than the fifteenth day of February for such calendar [year] YEARS.
S 4. This act shall take effect immediately.
PART C
Section 1. Section 10 of chapter 555 of the laws of 1982 amending the
general business law and the administrative code of the city of New York
relating to conversion of residential property to cooperative or condo-
minium ownership in the city of New York, as amended by chapter 19 of
the laws of 2015, is amended to read as follows:
S 10. This act shall take effect immediately; provided, that the
provisions of sections one, two and nine of this act shall remain in
full force and effect only until and including June [23] 15, [2015]
2019; provided further that the provisions of section three of this act
shall remain in full force and effect only so long as the public emer-
gency requiring the regulation and control of residential rents and
evictions continues as provided in subdivision 3 of section 1 of the
local emergency housing rent control act; provided further that the
provisions of sections four, five, six and seven of this act shall
expire in accordance with the provisions of section 26-520 of the admin-
istrative code of the city of New York as such section of the adminis-
trative code is, from time to time, amended; provided further that the
provisions of section 26-511 of the administrative code of the city of
New York, as amended by this act, which the New York City Department of
Housing Preservation and Development must find are contained in the code
of the real estate industry stabilization association of such city in
order to approve it, shall be deemed contained therein as of the effec-
tive date of this act; and provided further that any plan accepted for
filing by the department of law on or before the effective date of this
act shall continue to be governed by the provisions of section 352-eeee
of the general business law as they had existed immediately prior to the
effective date of this act.
S 2. Section 4 of chapter 402 of the laws of 1983 amending the general
business law relating to conversion of rental residential property to
cooperative or condominium ownership in certain municipalities in the
counties of Nassau, Westchester and Rockland, as amended by chapter 19
of the laws of 2015, is amended to read as follows:
S 4. This act shall take effect immediately; provided, that the
provisions of sections one and three of this act shall remain in full
force and effect only until and including June [23] 15, [2015] 2019; and
provided further that any plan accepted for filing by the department of
law on or before the effective date of this act shall continue to be
governed by the provisions of section 352-eee of the general business
law as they had existed immediately prior to the effective date of this
act.
S 3. This act shall take effect immediately, provided, however, that
if this act shall become a law after June 23, 2015, then it shall be
deemed to have been in full force and effect on and after June 23, 2015.
S. 6008 7
PART D
Section 1. Subparagraph (A) of paragraph 7 of subdivision (ee) of
section 1115 of the tax law, as amended by section 1 of subpart A of
part GG of chapter 59 of the laws of 2014, is amended to read as
follows:
(A) "Tenant" means a person who, as lessee, enters into a space lease
with a landlord for a term of ten years or more commencing on or after
September first, two thousand five, but not later than, in the case of a
space lease with respect to leased premises located in eligible areas as
defined in clause (i) of subparagraph (D) of this paragraph, September
first, two thousand [fifteen] NINETEEN and, in the case of a space lease
with respect to leased premises located in eligible areas as defined in
clause (ii) of subparagraph (D) of this paragraph not later than Septem-
ber first, two thousand [seventeen] TWENTY-ONE, of premises for use as
commercial office space in buildings located or to be located in the
eligible areas. A person who currently occupies premises for use as
commercial office space under an existing lease in a building in the
eligible areas shall not be eligible for exemption under this subdivi-
sion unless such existing lease, in the case of a space lease with
respect to leased premises located in eligible areas as defined in
clause (i) of subparagraph (D) of this paragraph expires according to
its terms before September first, two thousand [fifteen] NINETEEN or
such existing lease, in the case of a space lease with respect to leased
premises located in eligible areas as defined in clause (ii) of subpara-
graph (D) of this paragraph and such person enters into a space lease,
for a term of ten years or more commencing on or after September first,
two thousand five, of premises for use as commercial office space in a
building located or to be located in the eligible areas, provided that
such space lease with respect to leased premises located in eligible
areas as defined in clause (i) of subparagraph (D) of this paragraph
commences no later than September first, two thousand [fifteen]
NINETEEN, and provided that such space lease with respect to leased
premises located in eligible areas as defined in clause (ii) of subpara-
graph (D) of this paragraph commences no later than September first, two
thousand [seventeen] TWENTY-ONE and provided, further, that such space
lease shall expire no earlier than ten years after the expiration of the
original lease.
S 2. Section 2 of part C of chapter 2 of the laws of 2005 amending
the tax law relating to exemptions from sales and use taxes, as amended
by section 2 of subpart A of part GG of chapter 59 of the laws of 2014,
is amended to read as follows:
S 2. This act shall take effect September 1, 2005 and shall expire and
be deemed repealed on December 1, [2018] 2022, and shall apply to sales
made, uses occurring and services rendered on or after such effective
date, in accordance with the applicable transitional provisions of
sections 1106 and 1217 of the tax law; except that clause (i) of subpar-
agraph (D) of paragraph seven of subdivision (ee) of section 1115 of the
tax law, as added by section one of this act, shall expire and be deemed
repealed December 1, [2016] 2020.
S 3. This act shall take effect immediately and shall be deemed to
have been in full force and effect after June 30, 2015; provided, howev-
er, that the amendment to subparagraph (A) of paragraph 7 of subdivision
(ee) of section 1115 of the tax law made by section one of this act
shall not affect the repeal of such subdivision and shall be deemed
repealed therewith.
S. 6008 8
PART E
Section 1. Subdivision (b) of section 25-z of the general city law, as
amended by section 1 of subpart D of part GG of chapter 59 of the laws
of 2014, is amended to read as follows:
(b) No eligible business shall be authorized to receive a credit under
any local law enacted pursuant to this article until the premises with
respect to which it is claiming the credit meet the requirements in the
definition of eligible premises and until it has obtained a certif-
ication of eligibility from the mayor of such city or an agency desig-
nated by such mayor, and an annual certification from such mayor or an
agency designated by such mayor as to the number of eligible aggregate
employment shares maintained by such eligible business that may qualify
for obtaining a tax credit for the eligible business' taxable year. Any
written documentation submitted to such mayor or such agency or agencies
in order to obtain any such certification shall be deemed a written
instrument for purposes of section 175.00 of the penal law. Such local
law may provide for application fees to be determined by such mayor or
such agency or agencies. No such certification of eligibility shall be
issued under any local law enacted pursuant to this article to an eligi-
ble business on or after July first, two thousand [fifteen] NINETEEN
unless:
(1) prior to such date such business has purchased, leased or entered
into a contract to purchase or lease particular premises or a parcel on
which will be constructed such premises or already owned such premises
or parcel;
(2) prior to such date improvements have been commenced on such prem-
ises or parcel, which improvements will meet the requirements of subdi-
vision (e) of section twenty-five-y of this article relating to expendi-
tures for improvements;
(3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies with respect to a proposed relocation to such particular premises;
and
(4) such business relocates to such particular premises not later than
thirty-six months or, in a case in which the expenditures made for the
improvements specified in paragraph two of this subdivision are in
excess of fifty million dollars within seventy-two months from the date
of submission of such preliminary application.
S 2. Subdivision (b) of section 25-ee of the general city law, as
amended by section 2 of subpart D of part GG of chapter 59 of the laws
of 2014, is amended to read as follows:
(b) No eligible business or special eligible business shall be author-
ized to receive a credit against tax under any local law enacted pursu-
ant to this article until the premises with respect to which it is
claiming the credit meet the requirements in the definition of eligible
premises and until it has obtained a certification of eligibility from
the mayor of such city or any agency designated by such mayor, and an
annual certification from such mayor or an agency designated by such
mayor as to the number of eligible aggregate employment shares main-
tained by such eligible business or such special eligible business that
may qualify for obtaining a tax credit for the eligible business' taxa-
ble year. No special eligible business shall be authorized to receive a
credit against tax under the provisions of this article unless the
number of relocated employee base shares calculated pursuant to subdivi-
sion (o) of section twenty-five-dd of this article is equal to or great-
S. 6008 9
er than the lesser of twenty-five percent of the number of New York city
base shares calculated pursuant to subdivision (p) of such section and
two hundred fifty employment shares. Any written documentation submitted
to such mayor or such agency or agencies in order to obtain any such
certification shall be deemed a written instrument for purposes of
section 175.00 of the penal law. Such local law may provide for applica-
tion fees to be determined by such mayor or such agency or agencies. No
certification of eligibility shall be issued under any local law enacted
pursuant to this article to an eligible business on or after July first,
two thousand [fifteen] NINETEEN unless:
(1) prior to such date such business has purchased, leased or entered
into a contract to purchase or lease premises in the eligible Lower
Manhattan area or a parcel on which will be constructed such premises;
(2) prior to such date improvements have been commenced on such prem-
ises or parcel, which improvements will meet the requirements of subdi-
vision (e) of section twenty-five-dd of this article relating to expend-
itures for improvements;
(3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies with respect to a proposed relocation to such premises; and
(4) such business relocates to such premises as provided in subdivi-
sion (j) of section twenty-five-dd of this article not later than thir-
ty-six months or, in a case in which the expenditures made for the
improvements specified in paragraph two of this subdivision are in
excess of fifty million dollars within seventy-two months from the date
of submission of such preliminary application.
S 3. Subdivision (b) of section 22-622 of the administrative code of
the city of New York, as amended by section 3 of subpart D of part GG of
chapter 59 of the laws of 2014, is amended to read as follows:
(b) No eligible business shall be authorized to receive a credit
against tax or a reduction in base rent subject to tax under the
provisions of this chapter, and of title eleven of the code as described
in subdivision (a) of this section, until the premises with respect to
which it is claiming the credit meet the requirements in the definition
of eligible premises and until it has obtained a certification of eligi-
bility from the mayor or an agency designated by the mayor, and an annu-
al certification from the mayor or an agency designated by the mayor as
to the number of eligible aggregate employment shares maintained by such
eligible business that may qualify for obtaining a tax credit for the
eligible business' taxable year. Any written documentation submitted to
the mayor or such agency or agencies in order to obtain any such certif-
ication shall be deemed a written instrument for purposes of section
175.00 of the penal law. Application fees for such certifications shall
be determined by the mayor or such agency or agencies. No certification
of eligibility shall be issued to an eligible business on or after July
first, two thousand [fifteen] NINETEEN unless:
(1) prior to such date such business has purchased, leased or entered
into a contract to purchase or lease particular premises or a parcel on
which will be constructed such premises or already owned such premises
or parcel;
(2) prior to such date improvements have been commenced on such prem-
ises or parcel which improvements will meet the requirements of subdivi-
sion (e) of section 22-621 of this chapter relating to expenditures for
improvements;
(3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
S. 6008 10
cies with respect to a proposed relocation to such particular premises;
and
(4) such business relocates to such particular premises not later than
thirty-six months or, in a case in which the expenditures made for
improvements specified in paragraph two of this subdivision are in
excess of fifty million dollars within seventy-two months from the date
of submission of such preliminary application.
S 4. Subdivision (b) of section 22-624 of the administrative code of
the city of New York, as amended by section 4 of subpart D of part GG of
chapter 59 of the laws of 2014, is amended to read as follows:
(b) No eligible business or special eligible business shall be author-
ized to receive a credit against tax under the provisions of this chap-
ter, and of title eleven of the code as described in subdivision (a) of
this section, until the premises with respect to which it is claiming
the credit meet the requirements in the definition of eligible premises
and until it has obtained a certification of eligibility from the mayor
or an agency designated by the mayor, and an annual certification from
the mayor or an agency designated by the mayor as to the number of
eligible aggregate employment shares maintained by such eligible busi-
ness or special eligible business that may qualify for obtaining a tax
credit for the eligible business' taxable year. No special eligible
business shall be authorized to receive a credit against tax under the
provisions of this chapter and of title eleven of the code unless the
number of relocated employee base shares calculated pursuant to subdivi-
sion (o) of section 22-623 of this chapter is equal to or greater than
the lesser of twenty-five percent of the number of New York city base
shares calculated pursuant to subdivision (p) of such section 22-623,
and two hundred fifty employment shares. Any written documentation
submitted to the mayor or such agency or agencies in order to obtain any
such certification shall be deemed a written instrument for purposes of
section 175.00 of the penal law. Application fees for such certif-
ications shall be determined by the mayor or such agency or agencies. No
certification of eligibility shall be issued to an eligible business on
or after July first, two thousand [fifteen] NINETEEN unless:
(1) prior to such date such business has purchased, leased or entered
into a contract to purchase or lease premises in the eligible Lower
Manhattan area or a parcel on which will be constructed such premises;
(2) prior to such date improvements have been commenced on such prem-
ises or parcel, which improvements will meet the requirements of subdi-
vision (e) of section 22-623 of this chapter relating to expenditures
for improvements;
(3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies with respect to a proposed relocation to such premises; and
(4) such business relocates to such premises not later than thirty-six
months or, in a case in which the expenditures made for the improvements
specified in paragraph two of this subdivision are in excess of fifty
million dollars within seventy-two months from the date of submission of
such preliminary application.
S 5. This act shall take effect immediately and shall be deemed to
have been in full force and effect after June 30, 2015.
PART F
S. 6008 11
Section 1. Paragraph 1 of subdivision (b) of section 25-s of the
general city law, as amended by section 1 of subpart E of part GG of
chapter 59 of the laws of 2014, is amended to read as follows:
(1) non-residential premises that are wholly contained in property
that is eligible to obtain benefits under title two-D or two-F of arti-
cle four of the real property tax law, or would be eligible to receive
benefits under such article except that such property is exempt from
real property taxation and the requirements of paragraph (b) of subdivi-
sion seven of section four hundred eighty-nine-dddd of such title two-D,
or the requirements of subparagraph (ii) of paragraph (b) of subdivision
five of section four hundred eighty-nine-cccccc of such title two-F,
whichever is applicable, have not been satisfied, provided that applica-
tion for such benefits was made after May third, nineteen hundred eight-
y-five and prior to July first, two thousand [fifteen] NINETEEN, that
construction or renovation of such premises was described in such appli-
cation, that such premises have been substantially improved by such
construction or renovation so described, that the minimum required
expenditure as defined in such title two-D or two-F, whichever is appli-
cable, has been made, and that such real property is located in an
eligible area; or
S 2. Paragraph 3 of subdivision (b) of section 25-s of the general
city law, as amended by section 2 of subpart E of part GG of chapter 59
of the laws of 2014, is amended to read as follows:
(3) non-residential premises that are wholly contained in real proper-
ty that has obtained approval after October thirty-first, two thousand
and prior to July first, two thousand [fifteen] NINETEEN for financing
by an industrial development agency established pursuant to article
eighteen-A of the general municipal law, provided that such financing
has been used in whole or in part to substantially improve such premises
(by construction or renovation), and that expenditures have been made
for improvements to such real property in excess of ten per centum of
the value at which such real property was assessed for tax purposes for
the tax year in which such improvements commenced, that such expendi-
tures have been made within thirty-six months after the earlier of (i)
the issuance by such agency of bonds for such financing, or (ii) the
conveyance of title to such property to such agency, and that such real
property is located in an eligible area; or
S 3. Paragraph 5 of subdivision (b) of section 25-s of the general
city law, as amended by section 3 of subpart E of part GG of chapter 59
of the laws of 2014, is amended to read as follows:
(5) non-residential premises that are wholly contained in real proper-
ty owned by such city or the New York state urban development corpo-
ration, or a subsidiary thereof, a lease for which was approved in
accordance with the applicable provisions of the charter of such city or
by the board of directors of such corporation, and such approval was
obtained after October thirty-first, two thousand and prior to July
first, two thousand [fifteen] NINETEEN, provided, however, that such
premises were constructed or renovated subsequent to such approval, that
expenditures have been made subsequent to such approval for improvements
to such real property (by construction or renovation) in excess of ten
per centum of the value at which such real property was assessed for tax
purposes for the tax year in which such improvements commenced, that
such expenditures have been made within thirty-six months after the
effective date of such lease, and that such real property is located in
an eligible area; or
S. 6008 12
S 4. Paragraph 2 of subdivision (c) of section 25-t of the general
city law, as amended by section 4 of subpart E of part GG of chapter 59
of the laws of 2014, is amended to read as follows:
(2) No eligible energy user, qualified eligible energy user, on-site
cogenerator, or clean on-site cogenerator shall receive a rebate pursu-
ant to this article until it has obtained a certification from the
appropriate city agency in accordance with a local law enacted pursuant
to this section. No such certification for a qualified eligible energy
user shall be issued on or after November first, two thousand. No such
certification of any other eligible energy user, on-site cogenerator, or
clean on-site cogenerator shall be issued on or after July first, two
thousand [fifteen] NINETEEN.
S 5. Paragraph 1 of subdivision (a) of section 25-aa of the general
city law, as amended by section 5 of subpart E of part GG of chapter 59
of the laws of 2014, is amended to read as follows:
(1) is eligible to obtain benefits under title two-D or two-F of arti-
cle four of the real property tax law, or would be eligible to receive
benefits under such title except that such property is exempt from real
property taxation and the requirements of paragraph (b) of subdivision
seven of section four hundred eighty-nine-dddd of such title two-D, or
the requirements of subparagraph (ii) of paragraph (b) of subdivision
five of section four hundred eighty-nine-cccccc of such title two-F,
whichever is applicable, of the real property tax law have not been
satisfied, provided that application for such benefits was made after
the thirtieth day of June, nineteen hundred ninety-five and before the
first day of July, two thousand [fifteen] NINETEEN, that construction or
renovation of such building or structure was described in such applica-
tion, that such building or structure has been substantially improved by
such construction or renovation, and (i) that the minimum required
expenditure as defined in such title has been made, or (ii) where there
is no applicable minimum required expenditure, the building was
constructed within such period or periods of time established by title
two-D or two-F, whichever is applicable, of article four of the real
property tax law for construction of a new building or structure; or
S 6. Paragraphs 2 and 3 of subdivision (a) of section 25-aa of the
general city law, as amended by section 6 of subpart E of part GG of
chapter 59 of the laws of 2014, are amended to read as follows:
(2) has obtained approval after the thirtieth day of June, nineteen
hundred ninety-five and before the first day of July, two thousand
[fifteen] NINETEEN, for financing by an industrial development agency
established pursuant to article eighteen-A of the general municipal law,
provided that such financing has been used in whole or in part to
substantially improve such building or structure by construction or
renovation, that expenditures have been made for improvements to such
real property in excess of twenty per centum of the value at which such
real property was assessed for tax purposes for the tax year in which
such improvements commenced, and that such expenditures have been made
within thirty-six months after the earlier of (i) the issuance by such
agency of bonds for such financing, or (ii) the conveyance of title to
such building or structure to such agency; or
(3) is owned by the city of New York or the New York state urban
development corporation, or a subsidiary corporation thereof, a lease
for which was approved in accordance with the applicable provisions of
the charter of such city or by the board of directors of such corpo-
ration, as the case may be, and such approval was obtained after the
thirtieth day of June, nineteen hundred ninety-five and before the first
S. 6008 13
day of July, two thousand [fifteen] NINETEEN, provided that expenditures
have been made for improvements to such real property in excess of twen-
ty per centum of the value at which such real property was assessed for
tax purposes for the tax year in which such improvements commenced, and
that such expenditures have been made within thirty-six months after the
effective date of such lease; or
S 7. Subdivision (f) of section 25-bb of the general city law, as
amended by section 7 of subpart E of part GG of chapter 59 of the laws
of 2014, is amended to read as follows:
(f) Application and certification. An owner or lessee of a building or
structure located in an eligible revitalization area, or an agent of
such owner or lessee, may apply to such department of small business
services for certification that such building or structure is an eligi-
ble building or targeted eligible building meeting the criteria of
subdivision (a) or (q) of section twenty-five-aa of this article.
Application for such certification must be filed after the thirtieth day
of June, nineteen hundred ninety-five and before a building permit is
issued for the construction or renovation required by such subdivisions
and before the first day of July, two thousand [fifteen] NINETEEN,
provided that no certification for a targeted eligible building shall be
issued after October thirty-first, two thousand. Such application shall
identify expenditures to be made that will affect eligibility under such
subdivision (a) or (q). Upon completion of such expenditures, an appli-
cant shall supplement such application to provide information (i) estab-
lishing that the criteria of such subdivision (a) or (q) have been met;
(ii) establishing a basis for determining the amount of special rebates,
including a basis for an allocation of the special rebate among eligible
revitalization area energy users purchasing or otherwise receiving ener-
gy services from an eligible redistributor of energy or a qualified
eligible redistributor of energy; and (iii) supporting an allocation of
charges for energy services between eligible charges and other charges.
Such department shall certify a building or structure as an eligible
building or targeted eligible building after receipt and review of such
information and upon a determination that such information establishes
that the building or structure qualifies as an eligible building or
targeted eligible building. Such department shall mail such certif-
ication or notice thereof to the applicant upon issuance. Such certif-
ication shall remain in effect provided the eligible redistributor of
energy or qualified eligible redistributor of energy reports any changes
that materially affect the amount of the special rebates to which it is
entitled or the amount of reduction required by subdivision (c) of this
section in an energy services bill of an eligible revitalization area
energy user and otherwise complies with the requirements of this arti-
cle. Such department shall notify the private utility or public utility
service required to make a special rebate to such redistributor of the
amount of such special rebate established at the time of certification
and any changes in such amount and any suspension or termination by such
department of certification under this subdivision. Such department may
require some or all of the information required as part of an applica-
tion or other report be provided by a licensed engineer.
S 8. Paragraph 1 of subdivision (i) of section 22-601 of the adminis-
trative code of the city of New York, as amended by section 8 of subpart
E of part GG of chapter 59 of the laws of 2014, is amended to read as
follows:
(1) Non-residential premises that are wholly contained in property
that is eligible to obtain benefits under part four or part five of
S. 6008 14
subchapter two of chapter two of title eleven of this code, or would be
eligible to receive benefits under such chapter except that such proper-
ty is exempt from real property taxation and the requirements of para-
graph two of subdivision g of section 11-259 of this code, or the
requirements of subparagraph (b) of paragraph two of subdivision e of
section 11-270 of this code, whichever is applicable, have not been
satisfied, provided that application for such benefits was made after
May third, nineteen hundred eighty-five and prior to July first, two
thousand [fifteen] NINETEEN, that construction or renovation of such
premises was described in such application, that such premises have been
substantially improved by such construction or renovation so described,
that the minimum required expenditure as defined in such part four or
part five, whichever is applicable, has been made, and that such real
property is located in an eligible area; or
S 9. Paragraph 3 of subdivision (i) of section 22-601 of the adminis-
trative code of the city of New York, as amended by section 9 of subpart
E of part GG of chapter 59 of the laws of 2014, is amended to read as
follows:
(3) non-residential premises that are wholly contained in real proper-
ty that has obtained approval after October thirty-first, two thousand
and prior to July first, two thousand [fifteen] NINETEEN for financing
by an industrial development agency established pursuant to article
eighteen-A of the general municipal law, provided that such financing
has been used in whole or in part to substantially improve such premises
(by construction or renovation), and that expenditures have been made
for improvements to such real property in excess of ten per centum of
the value at which such real property was assessed for tax purposes for
the tax year in which such improvements commenced, that such expendi-
tures have been made within thirty-six months after the earlier of (i)
the issuance by such agency of bonds for such financing, or (ii) the
conveyance of title to such property to such agency, and that such real
property is located in an eligible area; or
S 10. Paragraph 5 of subdivision (i) of section 22-601 of the adminis-
trative code of the city of New York, as amended by section 10 of
subpart E of part GG of chapter 59 of the laws of 2014, is amended to
read as follows:
(5) non-residential premises that are wholly contained in real proper-
ty owned by such city or the New York state urban development corpo-
ration, or a subsidiary thereof, a lease for which was approved in
accordance with the applicable provisions of the charter of such city or
by the board of directors of such corporation, and such approval was
obtained after October thirty-first, two thousand and prior to July
first, two thousand [fifteen] NINETEEN, provided, however, that such
premises were constructed or renovated subsequent to such approval, that
expenditures have been made subsequent to such approval for improvements
to such real property (by construction or renovation) in excess of ten
per centum of the value at which such real property was assessed for tax
purposes for the tax year in which such improvements commenced, that
such expenditures have been made within thirty-six months after the
effective date of such lease, and that such real property is located in
an eligible area; or
S 11. Paragraph 1 of subdivision (c) of section 22-602 of the adminis-
trative code of the city of New York, as amended by section 11 of
subpart E of part GG of chapter 59 of the laws of 2014, is amended to
read as follows:
S. 6008 15
(1) No eligible energy user, qualified eligible energy user, on-site
cogenerator, clean on-site cogenerator or special eligible energy user
shall receive a rebate pursuant to this chapter until it has obtained a
certification as an eligible energy user, qualified eligible energy
user, on-site cogenerator, clean on-site cogenerator or special eligible
energy user, respectively, from the commissioner of small business
services. No such certification for a qualified eligible energy user
shall be issued on or after July first, two thousand three. No such
certification of any other eligible energy user, on-site cogenerator or
clean on-site cogenerator shall be issued on or after July first, two
thousand [fifteen] NINETEEN. The commissioner of small business
services, after notice and hearing, may revoke a certification issued
pursuant to this subdivision where it is found that eligibility criteria
have not been met or that compliance with conditions for continued
eligibility has not been maintained. The corporation counsel may main-
tain a civil action to recover an amount equal to any benefits improper-
ly obtained.
S 12. This act shall take effect immediately and shall be deemed to
have been in full force and effect after June 30, 2015.
PART G
Section 1. Subparagraph (b-2) of paragraph 2 of subdivision i of
section 11-704 of the administrative code of the city of New York, as
amended by section 1 of subpart F of part GG of chapter 59 of the laws
of 2014, is amended to read as follows:
(b-2) The amount of the special reduction allowed by this subdivision
with respect to a lease other than a sublease commencing between July
first, two thousand five and June thirtieth, two thousand [fifteen]
NINETEEN with an initial or renewal lease term of at least five years
shall be determined as follows:
(i) For the base year the amount of such special reduction shall be
equal to the base rent for the base year.
(ii) For the first, second, third and fourth twelve-month periods
following the base year the amount of such special reduction shall be
equal to the lesser of (A) the base rent for each such twelve-month
period or (B) the base rent for the base year.
S 2. This act shall take effect immediately and shall be deemed to
have been in full force and effect after June 30, 2015.
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 judgment 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 judg-
ment 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 through G of this act shall be
as specifically set forth in the last section of such Parts.