S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7996
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 16, 2025
                                ___________
 
 Introduced  by M. of A. LUCAS -- read once and referred to the Committee
   on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  creating  the
   Neighborhood Small Business Rent Increase Exemption
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Short title. This act shall be known and may  be  cited  as
 the "Neighborhood Small Business Rent Increase Exemption".
   § 2. Article 4 of the real property tax law is amended by adding a new
 title 7 to read as follows:
                                  TITLE 7
         TAX ABATEMENT FOR LIMITING RENT INCREASES ON NEIGHBORHOOD
                             SMALL BUSINESSES
                 IN A CITY OF ONE MILLION OR MORE PERSONS
 SECTION 499-AAAAAA. DEFINITIONS.
         499-BBBBBB. AUTHORITY  TO  ENACT  LOCAL  LAW;  REAL PROPERTY TAX
                        ABATEMENT.
         499-CCCCCC. ELIGIBILITY REQUIREMENTS.
         499-DDDDDD. APPLICATION FOR CERTIFICATE OF ABATEMENT.
         499-EEEEEE. ENFORCEMENT AND ADMINISTRATION.
         499-FFFFFF. REPORTING REQUIREMENTS; REVOCATION OF ABATEMENTS.
         499-GGGGGG. TAX LIEN; INTEREST AND PENALTY.
         499-HHHHHH. CONFIDENTIALITY.
   § 499-AAAAAA. DEFINITIONS. WHEN USED  IN  THIS  TITLE,  THE  FOLLOWING
 TERMS SHALL MEAN OR INCLUDE:
   1.  "ABATEMENT BASE." THE LESSER OF (I) TWO DOLLARS AND FIFTY CENTS OF
 THE TAX LIABILITY PER SQUARE FOOT OR (II) FIFTY PER CENTUM  OF  THE  TAX
 LIABILITY PER SQUARE FOOT.
   2.  "ABATEMENT  ZONE."  ANY  AREA OF A CITY HAVING A POPULATION OF ONE
 MILLION OR MORE DESIGNATED BY LOCAL LAW PURSUANT TO  THIS  TITLE  AS  AN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04149-01-5
 A. 7996                             2
              

 
 ABATEMENT  ZONE.  ANY TAX LOT THAT IS PARTLY LOCATED INSIDE AN ABATEMENT
 ZONE SHALL BE DEEMED TO BE ENTIRELY LOCATED INSIDE SUCH ZONE.
   3.  "AGGREGATE  FLOOR AREA." THE SUM OF THE GROSS AREAS OF THE SEVERAL
 FLOORS OF A BUILDING, MEASURED FROM THE EXTERIOR FACES OF EXTERIOR WALLS
 OR FROM THE CENTER LINES OF WALLS SEPARATING TWO BUILDINGS.
   4. "APPLICANT." THE LANDLORD AND THE TENANT.
   5. "BENEFIT PERIOD." THE PERIOD COMMENCING WITH THE FIRST DAY  OF  THE
 MONTH  IMMEDIATELY  FOLLOWING THE RENT COMMENCEMENT DATE AND TERMINATING
 NO LATER THAN ONE HUNDRED TWENTY MONTHS THEREAFTER.
   6. "BILLABLE ASSESSED VALUE." THE LESSER OF THE  TAXABLE  TRANSITIONAL
 OR  THE  TAXABLE  ACTUAL ASSESSED VALUE OF THE ELIGIBLE BUILDING AND THE
 LAND ON WHICH THE ELIGIBLE BUILDING IS LOCATED FOR THE  FISCAL  YEAR  IN
 WHICH THE BENEFIT PERIOD COMMENCES.
   7. "COMMERCIAL ACTIVITIES." THE BUYING, SELLING OR OTHERWISE PROVIDING
 OF GOODS OR SERVICES BY A SMALL BUSINESS.
   8.  "DEPARTMENT  OF  FINANCE."  THE  DEPARTMENT OF FINANCE OF ANY CITY
 HAVING A POPULATION OF ONE MILLION OR MORE.
   9. "ELIGIBLE BUILDING." WITH RESPECT TO THE ABATEMENT ZONE DEFINED  IN
 SUBDIVISION TWO OF THIS SECTION, A NON-RESIDENTIAL OR MIXED-USE BUILDING
 WHICH  SHALL  NOT  INCLUDE  ANY BUILDING OWNED BY A GOVERNMENTAL AGENCY.
 EACH CONDOMINIUM UNIT IN A BUILDING THAT MEETS THE REQUIREMENTS OF  THIS
 SUBDIVISION SHALL BE CONSIDERED A SEPARATE ELIGIBLE BUILDING.
   10. "ELIGIBILITY PERIOD." THE PERIOD COMMENCING APRIL FIRST, TWO THOU-
 SAND  TWENTY-FIVE  AND  TERMINATING  MARCH  THIRTY-FIRST,  TWO  THOUSAND
 FORTY-ONE.
   11. "ELIGIBLE PREMISES." WITH RESPECT TO THE ABATEMENT ZONE DEFINED IN
 SUBDIVISION TWO OF THIS SECTION, PREMISES LOCATED IN AN ELIGIBLE  BUILD-
 ING  THAT (A) ARE OCCUPIED OR USED FOR RETAIL PURPOSES AND (B) ARE OCCU-
 PIED OR USED BY A TENANT  UNDER  A  LEASE  THAT  MEETS  THE  ELIGIBILITY
 REQUIREMENTS OF SECTION FOUR HUNDRED NINETY-NINE-CCCCCC OF THIS TITLE.
   12.  "FISCAL YEAR." THE FISCAL YEAR OF ANY CITY HAVING A POPULATION OF
 ONE MILLION OR MORE.
   13. "GOVERNMENTAL AGENCY." THE UNITED STATES OF AMERICA OR ANY  AGENCY
 OR INSTRUMENTALITY THEREOF, THE STATE OF NEW YORK, THE CITY OF NEW YORK,
 ANY  PUBLIC  CORPORATION (INCLUDING A BODY CORPORATE AND POLITIC CREATED
 PURSUANT TO AGREEMENT OR COMPACT BETWEEN THE STATE OF NEW YORK  AND  ANY
 OTHER  STATE),  PUBLIC  BENEFIT  CORPORATION,  PUBLIC AUTHORITY OR OTHER
 POLITICAL SUBDIVISION OF THE STATE.
   14. "LANDLORD."  ANY  PERSON  WHO  (A)  CONTROLS  ALL  NON-RESIDENTIAL
 PORTIONS  OF  AN  ELIGIBLE  BUILDING, INCLUDING, WITHOUT LIMITATION, THE
 RECORD OWNER,  THE  LESSEE  UNDER  A  GROUND  LEASE,  ANY  MORTGAGEE  IN
 POSSESSION OR ANY RECEIVER, AND (B) WHO GRANTS THE RIGHT TO USE OR OCCU-
 PY  ELIGIBLE  PREMISES  TO  ANY TENANT, PROVIDED THAT LANDLORD SHALL NOT
 INCLUDE ANY LESSEE WHO AT ANY TIME DURING THE  LEASE  TERM  OCCUPIED  OR
 USED  OR  OCCUPIES  OR  USES ANY PART OF THE NON-RESIDENTIAL PORTIONS OF
 SUCH ELIGIBLE BUILDING, OTHER THAN PREMISES OCCUPIED  OR  USED  BY  SUCH
 LESSEE TO PROVIDE RENTAL OR MANAGEMENT SERVICES TO SUCH BUILDING.
   15.  "LEASE  COMMENCEMENT  DATE."  THE  DATE SET FORTH IN THE LEASE ON
 WHICH THE TERM OF THE LEASE COMMENCES.
   16. "MIXED-USE BUILDING." A BUILDING USED  FOR  BOTH  RESIDENTIAL  AND
 COMMERCIAL ACTIVITIES, PROVIDED THAT MORE THAN TWENTY-FIVE PER CENTUM OF
 THE AGGREGATE FLOOR AREA OF SUCH BUILDING IS USED OR HELD OUT FOR USE AS
 COMMERCIAL, COMMUNITY FACILITY OR ACCESSORY USE SPACE.
   17.  "PERSON."  AN INDIVIDUAL, CORPORATION, LIMITED LIABILITY COMPANY,
 PARTNERSHIP, ASSOCIATION, AGENCY, TRUST,  ESTATE,  FOREIGN  OR  DOMESTIC
 GOVERNMENT OR SUBDIVISION THEREOF, OR OTHER ENTITY.
 A. 7996                             3
 
   18.  "RENEWAL TENANT." A PERSON WHO (A) OCCUPIES PREMISES IN AN ELIGI-
 BLE BUILDING UNDER A LEASE WHICH EXPIRES DURING THE  ELIGIBILITY  PERIOD
 AND  (B)  EXECUTES A LEASE FOR THE CONTINUED OCCUPANCY OF ALL OR PART OF
 SUCH PREMISES OR ALL OR PART OF SUCH PREMISES AND ADDITIONAL PREMISES IN
 SUCH ELIGIBLE BUILDING, PROVIDED SUCH PREMISES ARE ELIGIBLE PREMISES AND
 SUCH  LEASE  MEETS  THE ELIGIBILITY REQUIREMENTS OF SECTION FOUR HUNDRED
 NINETY-NINE-CCCCCC OF THIS TITLE.
   19. "RENT COMMENCEMENT DATE." THE DATE SET FORTH IN THE LEASE ON WHICH
 THE OBLIGATION TO PAY BASIC FIXED RENT SHALL COMMENCE.
   20. "RETAIL PURPOSES" MEANS ANY ACTIVITY THAT  CONSISTS  PREDOMINANTLY
 OF  (A)  THE  FINAL  SALE OF TANGIBLE PERSONAL PROPERTY OR SERVICES BY A
 VENDOR AS DEFINED IN SECTION ELEVEN HUNDRED ONE OF THE TAX LAW, (B)  THE
 SALE  OF  SERVICES  THAT  GENERALLY INVOLVE THE PHYSICAL, MENTAL, AND/OR
 SPIRITUAL CARE OF INDIVIDUALS OR THE PHYSICAL CARE OF THE PERSONAL PROP-
 ERTY OF INDIVIDUALS, (C) THE FINAL SALE OF FOOD  AND/OR  BEVERAGE  BY  A
 VENDOR  AS DEFINED IN SECTION ELEVEN HUNDRED ONE OF THE TAX LAW, INCLUD-
 ING THE ASSEMBLY, PROCESSING OR PACKAGING OF GOODS, PROVIDED THAT  SALES
 OF  SUCH  TANGIBLE  PERSONAL  PROPERTY  OR SERVICES ARE PREDOMINANTLY TO
 PURCHASERS WHO PERSONALLY VISIT THE FACILITIES AT WHICH SUCH  SALES  ARE
 MADE OR SUCH PROPERTY AND SERVICES ARE PROVIDED. "RETAIL PURPOSES" SHALL
 NOT  INCLUDE HOTEL USES AS DESCRIBED IN SUBDIVISION FOUR OF SECTION FOUR
 HUNDRED NINETY-NINE-CCCCCC OF THIS ARTICLE.
   21. "SMALL BUSINESS." A BUSINESS ENGAGED IN COMMERCIAL ACTIVITIES THAT
 EMPLOYS FIFTY OR FEWER PERSONS.
   22. "SUBTENANT." A PERSON WHOSE RIGHT TO OCCUPY AND USE  THE  ELIGIBLE
 PREMISES IS NOT DERIVED FROM A LEASE WITH THE LANDLORD.
   23.  "TAX  COMMISSION."  THE TAX COMMISSION IN ANY CITY HAVING A POPU-
 LATION OF ONE MILLION OR MORE.
   24. "TAX LIABILITY." THE PRODUCT OBTAINED BY MULTIPLYING THE  BILLABLE
 ASSESSED VALUE FOR THE FISCAL YEAR IN WHICH THE BENEFIT PERIOD COMMENCES
 BY THE TAX RATE APPLICABLE TO THE ELIGIBLE BUILDING FOR SUCH FISCAL YEAR
 AS  SET BY THE LOCAL LEGISLATIVE BODY OF ANY CITY HAVING A POPULATION OF
 ONE MILLION OR MORE.
   25. "TAX LIABILITY PER SQUARE FOOT." THE TAX LIABILITY DIVIDED BY  THE
 TOTAL  NUMBER  OF SQUARE FEET IN THE ELIGIBLE BUILDING, AS LISTED ON THE
 RECORDS OF THE DEPARTMENT OF FINANCE.
   26. "TENANT." A PERSON, INCLUDING  ANY  SUCCESSORS  IN  INTEREST,  WHO
 EXECUTES  A  LEASE  WITH THE LANDLORD FOR THE RIGHT TO OCCUPY OR USE THE
 ELIGIBLE PREMISES AND WHO OCCUPIES OR USES THE ELIGIBLE PREMISES  PURSU-
 ANT  TO SUCH LEASE. TENANT SHALL NOT INCLUDE ANY SUBTENANT. WHEN USED IN
 THIS TITLE, "TENANT" INCLUDES "RENEWAL TENANT."
   27. "TENANT'S  PERCENTAGE  SHARE."  THE  PERCENTAGE  OF  THE  ELIGIBLE
 BUILDING'S  AGGREGATE  FLOOR  AREA  ALLOCATED  TO THE ELIGIBLE PREMISES,
 WHICH SHALL BE PRESUMED TO BE SUCH PERCENTAGE AS SET FORTH IN THE  LEASE
 FOR THE ELIGIBLE PREMISES.
   §  499-BBBBBB.  AUTHORITY TO ENACT LOCAL LAW; REAL PROPERTY TAX ABATE-
 MENT.  1.  ANY CITY HAVING A POPULATION OF ONE MILLION OR  MORE,  ACTING
 THROUGH  ITS  LOCAL  LEGISLATIVE    BODY, IS AUTHORIZED AND EMPOWERED TO
 DETERMINE THAT INCENTIVES IN THE FORM  OF  ABATEMENT  OF  REAL  PROPERTY
 TAXES  ARE  NECESSARY  TO  ENCOURAGE VIBRANT NEIGHBORHOOD SMALL BUSINESS
 ACTIVITY IN DESIGNATED AREAS OF SUCH CITY, TO ENACT A LOCAL LAW  PROVID-
 ING THAT SUCH BENEFITS SHALL BE PROVIDED IN THE MANNER SET FORTH IN THIS
 TITLE,  AND  TO  DESIGNATE  BY  LOCAL  LAW THE BOUNDARIES OF ONE OR MORE
 ABATEMENT ZONES IN WHICH SUCH BENEFITS SHALL BE PROVIDED.
 A. 7996                             4
 
   2. WITHIN AN ABATEMENT ZONE SO DESIGNATED, ELIGIBLE BUILDINGS CONTAIN-
 ING ELIGIBLE  PREMISES  SHALL   RECEIVE AN ABATEMENT  OF  REAL  PROPERTY
 TAXES DURING THE BENEFIT PERIOD AS FOLLOWS:
   (A) FOR EACH OF THE FIRST FIVE YEARS OF THE BENEFIT PERIOD, THE ABATE-
 MENT  SHALL  BE  EQUAL  TO  THE  PRODUCT OBTAINED BY (I) MULTIPLYING THE
 TENANT'S PERCENTAGE SHARE BY THE NUMBER OF SQUARE FEET IN  THE  ELIGIBLE
 BUILDING, AS LISTED ON THE RECORDS OF THE DEPARTMENT OF FINANCE AND (II)
 MULTIPLYING  THE  PRODUCT OBTAINED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH
 BY THE ABATEMENT BASE;
   (B) FOR THE SIXTH, SEVENTH, AND EIGHTH YEAR OF THE BENEFIT PERIOD, THE
 ABATEMENT SHALL BE EQUAL TO TWO-THIRDS OF THE  ABATEMENT  IN  THE  FIRST
 YEAR OF THE BENEFIT PERIOD; AND
   (C)  FOR THE NINTH AND TENTH YEAR OF THE BENEFIT PERIOD, THE ABATEMENT
 SHALL BE EQUAL TO ONE-THIRD OF THE ABATEMENT IN THE FIRST  YEAR  OF  THE
 BENEFIT PERIOD.
   3.  IF,  AS  A  RESULT OF APPLICATION TO THE TAX COMMISSION OR A COURT
 ORDER OR ACTION BY THE DEPARTMENT  OF  FINANCE,  THE  BILLABLE  ASSESSED
 VALUE IS REDUCED, THE DEPARTMENT OF FINANCE SHALL RECALCULATE THE ABATE-
 MENT UTILIZING SUCH REDUCED BILLABLE ASSESSED VALUE. THE AMOUNT EQUAL TO
 THE  DIFFERENCE  BETWEEN THE ABATEMENT ORIGINALLY GRANTED AND THE ABATE-
 MENT AS SO RECALCULATED SHALL BE  DEDUCTED  FROM  ANY  REFUND  OTHERWISE
 PAYABLE  OR  REMISSION  OTHERWISE  DUE  AS A RESULT OF SUCH REDUCTION IN
 BILLABLE ASSESSED VALUE, AND ANY BALANCE OF SUCH AMOUNT REMAINING UNPAID
 AFTER MAKING ANY SUCH DEDUCTION SHALL  BE  PAID  TO  THE  DEPARTMENT  OF
 FINANCE WITHIN THIRTY DAYS FROM THE DATE OF MAILING BY THE DEPARTMENT OF
 FINANCE  OF  A  NOTICE  OF THE AMOUNT PAYABLE. SUCH AMOUNT PAYABLE SHALL
 CONSTITUTE A TAX LIEN ON THE ELIGIBLE BUILDING AS OF THE  DATE  OF  SUCH
 NOTICE  AND,  IF  NOT  PAID  WITHIN  SUCH THIRTY-DAY PERIOD, PENALTY AND
 INTEREST AT THE RATE APPLICABLE TO DELINQUENT  TAXES  ON  SUCH  ELIGIBLE
 BUILDING  SHALL BE CHARGED AND COLLECTED ON SUCH AMOUNT FROM THE DATE OF
 SUCH NOTICE TO THE DATE OF PAYMENT.
   4. IN NO EVENT SHALL THE ABATEMENT FOR THE ELIGIBLE  PREMISES  GRANTED
 PURSUANT  TO THIS TITLE EXCEED THE TAX LIABILITY ALLOCABLE TO THE ELIGI-
 BLE PREMISES.
   5. NOTWITHSTANDING THE PROVISIONS OF ANY LEASE FOR OCCUPANCY  OF  NON-
 ELIGIBLE  PREMISES  IN AN ELIGIBLE BUILDING OR FOR OCCUPANCY OF ELIGIBLE
 PREMISES FOR WHICH NO CERTIFICATE OF ABATEMENT HAS BEEN ISSUED  PURSUANT
 TO THIS TITLE, A LESSEE OF NON-ELIGIBLE PREMISES OR OF ELIGIBLE PREMISES
 FOR  WHICH  NO CERTIFICATE OF ABATEMENT HAS BEEN ISSUED PURSUANT TO THIS
 TITLE SHALL  NOT  BE  ENTITLED  TO  RECEIVE  DIRECTLY  OR  INDIRECTLY  A
 REDUCTION IN EITHER THE REAL PROPERTY TAXES OR ANY RENT (INCLUDING ADDI-
 TIONAL  RENT)  PAYABLE PURSUANT TO SUCH LEASE WHERE SUCH REDUCTION WOULD
 RESULT FROM AN ABATEMENT OF REAL PROPERTY TAXES GRANTED PURSUANT TO THIS
 TITLE. A LANDLORD OF AN ELIGIBLE BUILDING SHALL  NOT  ALLOCATE,  CREDIT,
 ASSIGN  OR DISBURSE ANY PORTION OF AN ABATEMENT GRANTED PURSUANT TO THIS
 TITLE TO A LESSEE OF NON-ELIGIBLE PREMISES OR OF ELIGIBLE  PREMISES  FOR
 WHICH  NO  CERTIFICATE  OF  ABATEMENT  HAS  BEEN ISSUED PURSUANT TO THIS
 TITLE. A LANDLORD SHALL NOT BE REQUIRED  TO  REDUCE  THE  REAL  PROPERTY
 TAXES OR ANY RENT (INCLUDING ADDITIONAL RENT) PAYABLE BY RENEWAL TENANTS
 BY  AN  AMOUNT  THAT  EXCEEDS  THE  FULL AMOUNT OF THE ABATEMENT GRANTED
 PURSUANT TO THIS TITLE, BUT A LANDLORD SHALL BE REQUIRED TO  REDUCE  THE
 REAL  PROPERTY  TAXES OR ANY RENT (INCLUDING ADDITIONAL RENT) PAYABLE BY
 RENEWAL TENANTS BY AN AMOUNT THAT, IN THE  AGGREGATE,  EQUALS  THE  FULL
 AMOUNT  OF  THE ABATEMENT GRANTED PURSUANT TO THIS TITLE. SUCH REDUCTION
 SHALL BE ALLOCATED IN ACCORDANCE WITH  THE  ABATEMENT  GRANTED  FOR  THE
 ELIGIBLE PREMISES OCCUPIED BY EACH SUCH TENANT.
 A. 7996                             5
 
   6. A TENANT WHO OCCUPIES OR USES ELIGIBLE PREMISES FOR WHICH A CERTIF-
 ICATE  OF ABATEMENT IS ISSUED PURSUANT TO THIS TITLE SHALL NOT BE ELIGI-
 BLE TO RECEIVE A SECOND CERTIFICATE OF ABATEMENT FOR THE  SAME  ELIGIBLE
 PREMISES.  A  TENANT  WHO OCCUPIES OR USES ELIGIBLE PREMISES FOR WHICH A
 CERTIFICATE  OF ABATEMENT IS ISSUED PURSUANT TO THIS TITLE AND WHO, UPON
 THE EXPIRATION OF THE LEASE FOR SUCH  ELIGIBLE  PREMISES,  RELOCATES  TO
 OTHERWISE  ELIGIBLE PREMISES, SHALL NOT BE ELIGIBLE TO RECEIVE A CERTIF-
 ICATE OF ABATEMENT FOR SUCH OTHERWISE ELIGIBLE PREMISES, EXCEPT  TO  THE
 EXTENT  THAT  THE  SQUARE  FOOTAGE  OF  SUCH OTHERWISE ELIGIBLE PREMISES
 EXCEEDS THE SQUARE FOOTAGE OF ALL ELIGIBLE PREMISES PREVIOUSLY  OCCUPIED
 OR  USED  BY  SUCH  TENANT  FOR  WHICH SUCH TENANT HELD A CERTIFICATE OF
 ABATEMENT. IF THE SQUARE FOOTAGE OF  SUCH  OTHERWISE  ELIGIBLE  PREMISES
 EXCEEDS  THE  SQUARE  FOOTAGE  OF  ALL SUCH ELIGIBLE PREMISES PREVIOUSLY
 OCCUPIED OR USED BY SUCH TENANT AND IF THERE IS ANY VARIATION IN THE TAX
 LIABILITY PER SQUARE FOOT OF SUCH OTHERWISE ELIGIBLE PREMISES, THEN, FOR
 PURPOSES OF DETERMINING WHICH SQUARE FOOTAGE IN SUCH OTHERWISE  ELIGIBLE
 PREMISES  IS  ENTITLED  TO  AN  ABATEMENT PURSUANT TO THIS TITLE, SQUARE
 FOOTAGE WITH THE GREATEST TAX LIABILITY PER SQUARE FOOT,  IN  AN  AMOUNT
 EQUAL  TO  THE  SQUARE  FOOTAGE OF ALL SUCH ELIGIBLE PREMISES PREVIOUSLY
 OCCUPIED OR USED BY SUCH TENANT, SHALL FIRST BE EXCLUDED.
   § 499-CCCCCC. ELIGIBILITY  REQUIREMENTS.  1.  NO  ABATEMENT  SHALL  BE
 GRANTED PURSUANT TO THIS TITLE UNLESS:
   (A)  THE  LANDLORD  ENTERS INTO A TEN YEAR LEASE FOR ELIGIBLE PREMISES
 WITH A TENANT AND (B) SUCH LANDLORD INCLUDES WITHIN SUCH  LEASE  WITH  A
 TENANT  A  RENEWAL  CLAUSE  THAT  LIMITS A RENT INCREASE TO NO MORE THAN
 THREE PERCENT ANNUALLY.
   2. NO ABATEMENT SHALL BE GRANTED PURSUANT TO THIS TITLE IF  AN  APPLI-
 CANT  SHALL  FAIL  TO  MEET ANY OF THE REQUIREMENTS OF THIS TITLE WITHIN
 SIXTY DAYS OF THE RENT COMMENCEMENT DATE.
   3. FOR PURPOSES OF THIS TITLE, THE EXPIRATION DATE OF A LEASE SHALL BE
 DETERMINED BY THE EXPIRATION DATE  SET  FORTH  IN  SUCH  LEASE,  WITHOUT
 GIVING  EFFECT  TO ANY RIGHTS OF THE LANDLORD OR THE TENANT TO TERMINATE
 SUCH LEASE PRIOR TO THE EXPIRATION DATE SET FORTH THEREIN.
   4. THE LEASE FOR THE ELIGIBLE PREMISES  SHALL  CONTAIN  THE  FOLLOWING
 PROVISIONS:
   (A) A STATEMENT OF THE TENANT'S PERCENTAGE SHARE;
   (B)  A  STATEMENT CERTIFYING THE PERCENTAGE OF ELIGIBLE PREMISES OCCU-
 PIED OR USED FOR RETAIL PURPOSES, AS DEFINED IN  SUBDIVISION  TWENTY  OF
 SECTION FOUR HUNDRED NINETY-NINE-AAAAAA OF THIS TITLE; AND
   (C)  A  STATEMENT  INFORMING  THE TENANT IN AT LEAST TWELVE-POINT TYPE
 THAT:
   (1) AN APPLICATION FOR ABATEMENT OF REAL PROPERTY  TAXES  PURSUANT  TO
 THIS TITLE WILL BE MADE FOR THE PREMISES;
   (2) THE RENT, INCLUDING AMOUNTS PAYABLE BY THE TENANT FOR REAL PROPER-
 TY  TAXES,  WILL ACCURATELY REFLECT ANY ABATEMENT OF REAL PROPERTY TAXES
 GRANTED PURSUANT TO THIS TITLE FOR THE PREMISES;
   (3) A RENEWAL OF THE LEASE WILL NOT INCREASE RENT BY MORE  THAN  THREE
 PERCENT ANNUALLY PURSUANT TO THE LEASE AGREEMENT;
   (4) ALL ABATEMENTS GRANTED WITH RESPECT TO A BUILDING PURSUANT TO THIS
 TITLE  WILL  BE REVOKED IF, DURING THE BENEFIT PERIOD, REAL ESTATE TAXES
 OR WATER OR SEWER CHARGES OR OTHER LIENABLE CHARGES ARE UNPAID FOR  MORE
 THAN  ONE  YEAR,  UNLESS SUCH DELINQUENT AMOUNTS ARE PAID AS PROVIDED IN
 SUBDIVISION FOUR OF SECTION  FOUR  HUNDRED  NINETY-NINE-FFFFFF  OF  THIS
 TITLE; AND
   (5)  ALL  BENEFITS  GRANTED  WITH RESPECT TO ELIGIBLE PREMISES WILL BE
 REDUCED IF, DURING THE BENEFIT PERIOD, THE AGGREGATE FLOOR AREA OF  SUCH
 A. 7996                             6
 
 ELIGIBLE PREMISES OCCUPIED OR USED FOR COMMERCIAL ACTIVITIES, AS DEFINED
 IN  SUBDIVISION SEVEN OF SECTION FOUR HUNDRED NINETY-NINE-AAAAAA OF THIS
 TITLE, IS REDUCED.
   5. NO ABATEMENT SHALL BE GRANTED PURSUANT TO THIS TITLE IF:
   (A)  THE  LEASE  FOR  THE  ELIGIBLE  PREMISES PROVIDES THAT DURING THE
 INITIAL LEASE TERM REQUIRED BY SUBDIVISION ONE OF  THIS  SECTION  EITHER
 THE LANDLORD OR THE TENANT MAY TERMINATE SUCH LEASE PRIOR TO THE EXPIRA-
 TION  DATE OF SUCH REQUIRED INITIAL LEASE TERM; PROVIDED THAT SUCH LEASE
 MAY PROVIDE THAT EITHER THE LANDLORD OR THE TENANT  MAY  TERMINATE  SUCH
 LEASE  IF (1) THE OTHER PARTY IS IN DEFAULT OF ANY OF SUCH PARTY'S OBLI-
 GATIONS UNDER THE LEASE,  (2)  THE  ELIGIBLE  PREMISES  ARE  DAMAGED  OR
 DESTROYED  BY  FIRE  OR  OTHER  CASUALTY,  (3) THE ELIGIBLE PREMISES ARE
 RENDERED UNUSABLE FOR ANY REASON NOT ATTRIBUTABLE TO ANY ACT OR  FAILURE
 TO  ACT  OF  EITHER TENANT OR LANDLORD, OR (4) THE ELIGIBLE PREMISES ARE
 ACQUIRED BY EMINENT DOMAIN; AND
   (B) THERE ARE REAL PROPERTY TAXES, WATER OR  SEWER  CHARGES  OR  OTHER
 LIENABLE  CHARGES CURRENTLY DUE AND OWING ON THE ELIGIBLE BUILDING WHICH
 IS THE SUBJECT OF AN APPLICATION FOR ABATEMENT PURSUANT TO  THIS  TITLE,
 UNLESS  SUCH  REAL PROPERTY TAXES OR CHARGES ARE CURRENTLY BEING PAID IN
 TIMELY INSTALLMENTS PURSUANT TO A WRITTEN AGREEMENT WITH THE  DEPARTMENT
 OF FINANCE OR OTHER APPROPRIATE AGENCY.
   6.  NO  ABATEMENT  SHALL  BE GRANTED PURSUANT TO THIS TITLE UNLESS THE
 APPLICANT SHALL  FILE,  TOGETHER  WITH  THE  APPLICATION,  AN  AFFIDAVIT
 SETTING FORTH THE FOLLOWING INFORMATION:
   (A)  A STATEMENT THAT WITHIN THE SEVEN YEARS IMMEDIATELY PRECEDING THE
 DATE OF APPLICATION FOR A CERTIFICATE OF ABATEMENT, NEITHER  THE  APPLI-
 CANT NOR ANY PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE BUILD-
 ING  AS  DEFINED  IN PARAGRAPH (C) OF THIS SUBDIVISION, NOR ANY OFFICER,
 DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR SUCH PERSON WAS  FINALLY
 ADJUDICATED  BY  A  COURT  OF  COMPETENT  JURISDICTION  TO HAVE VIOLATED
 SECTION TWO HUNDRED THIRTY-FIVE OF THE REAL PROPERTY LAW OR ANY  SECTION
 OF  ARTICLE  ONE HUNDRED FIFTY OF THE PENAL LAW OR ANY SIMILAR ARSON LAW
 OF ANOTHER JURISDICTION WITH RESPECT TO ANY BUILDING, OR WAS AN OFFICER,
 DIRECTOR OR GENERAL PARTNER OF A PERSON AT  THE  TIME  SUCH  PERSON  WAS
 FINALLY ADJUDICATED TO HAVE VIOLATED SUCH LAW; AND
   (B)  A  STATEMENT SETTING FORTH ANY PENDING CHARGES ALLEGING VIOLATION
 OF SECTION TWO HUNDRED THIRTY-FIVE OF  THE  REAL  PROPERTY  LAW  OR  ANY
 SECTION  OF  ARTICLE  ONE  HUNDRED FIFTY OF THE PENAL LAW OR ANY SIMILAR
 ARSON LAW OF ANOTHER JURISDICTION WITH RESPECT TO ANY  BUILDING  BY  THE
 APPLICANT  OR  ANY  PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE
 BUILDING AS DEFINED IN PARAGRAPH (C) OF THIS SUBDIVISION, OR  ANY  OFFI-
 CER, DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR SUCH PERSON, OR ANY
 PERSON FOR WHOM THE APPLICANT OR PERSON OWNING A SUBSTANTIAL INTEREST IN
 THE ELIGIBLE BUILDING IS AN OFFICER, DIRECTOR OR GENERAL PARTNER.
   (C)  FOR PURPOSES OF THIS SUBDIVISION AND SUBDIVISION SEVEN OF SECTION
 FOUR HUNDRED NINETY-NINE-FFFFFF OF THIS  TITLE,  "SUBSTANTIAL  INTEREST"
 SHALL  MEAN  OWNERSHIP  AND  CONTROL OF AN INTEREST OF TEN PER CENTUM OR
 MORE IN THE ELIGIBLE BUILDING OR  IN  ANY  PERSON  OWNING  THE  ELIGIBLE
 BUILDING.
   §  499-DDDDDD.  APPLICATION FOR CERTIFICATE OF ABATEMENT. 1.  APPLICA-
 TION FOR A CERTIFICATE OF ABATEMENT MAY BE MADE ON OR AFTER APRIL FIRST,
 TWO THOUSAND TWENTY-FIVE AND UNTIL SIXTY  DAYS  AFTER  THE  END  OF  THE
 ELIGIBILITY  PERIOD.  APPLICATIONS SHALL BE FILED WITH THE DEPARTMENT OF
 FINANCE. NO APPLICATION MAY BE FILED PRIOR TO  THE  DATE  ON  WHICH  THE
 LEASE FOR THE ELIGIBLE PREMISES IS EXECUTED BY THE LANDLORD AND TENANT.
 A. 7996                             7
 
   2.  NO  ABATEMENT  PURSUANT  TO THIS TITLE SHALL BE GRANTED UNLESS THE
 APPLICANT FILES AN APPLICATION FOR A  CERTIFICATE  OF  ABATEMENT  WITHIN
 SIXTY DAYS FOLLOWING THE LEASE COMMENCEMENT DATE.
   3.  IN ADDITION TO ANY OTHER INFORMATION REQUIRED BY THE DEPARTMENT OF
 FINANCE, THE APPLICATION FOR A CERTIFICATE OF ABATEMENT SHALL INCLUDE AN
 ABSTRACT OF THE LEASE FOR THE ELIGIBLE PREMISES FOR WHICH  AN  ABATEMENT
 IS  BEING  SOUGHT,  WHICH  ABSTRACT  IS  SIGNED  BY THE LANDLORD AND THE
 TENANT. SUCH ABSTRACT SHALL INCLUDE THE TENANT'S PERCENTAGE  SHARE,  THE
 LEASE COMMENCEMENT DATE, THE RENT COMMENCEMENT DATE, THE EXPIRATION DATE
 FOR  SUCH LEASE AND A DESCRIPTION OF THE LEASE RENEWAL CLAUSE, INCLUDING
 THE ANNUAL RENT INCREASE PERCENTAGE. SUCH APPLICATION SHALL ALSO INCLUDE
 (I) A STATEMENT OF THE NUMBER OF PERSONS WHO WILL, ON THE RENT COMMENCE-
 MENT DATE, BE EMPLOYED IN THE ELIGIBLE PREMISES, (II) A STATEMENT OF THE
 LOCATION OF ALL COMMERCIAL SPACE IN THE CITY OF NEW YORK OCCUPIED BY THE
 TENANT PRIOR TO THE EXECUTION OF THE LEASE FOR  THE  ELIGIBLE  PREMISES,
 (III)  THE  COMMENCEMENT AND EXPIRATION DATES OF ALL LEASES FOR ELIGIBLE
 PREMISES, AND (IV) THE AGGREGATE FLOOR AREA OF  THE  ELIGIBLE  BUILDING.
 SUCH  APPLICATION  SHALL  ALSO STATE THAT THE APPLICANT AGREES TO COMPLY
 WITH AND BE SUBJECT TO THE RULES ISSUED FROM TIME TO TIME BY THE DEPART-
 MENT OF FINANCE.
   4. WITHIN ONE HUNDRED EIGHTY DAYS  FOLLOWING  THE  LEASE  COMMENCEMENT
 DATE,  THE APPLICANT SHALL PROVIDE, IN ADDITION TO ANY OTHER INFORMATION
 REQUIRED BY THE  DEPARTMENT  OF  FINANCE,  EVIDENCE  ACCEPTABLE  TO  THE
 DEPARTMENT  OF  FINANCE OF THE NUMBER OF EMPLOYEES IN THE ELIGIBLE PREM-
 ISES. THE DEPARTMENT OF FINANCE SHALL ISSUE A CERTIFICATE  OF  ABATEMENT
 UPON  DETERMINING  THAT  THE APPLICANT HAS SUBMITTED PROOF ACCEPTABLE TO
 THE DEPARTMENT OF FINANCE THAT THE APPLICANT HAS  MET  THE  REQUIREMENTS
 SET FORTH IN THIS TITLE.
   5.  THE BURDEN OF PROOF SHALL BE ON THE APPLICANT TO SHOW BY CLEAR AND
 CONVINCING EVIDENCE THAT THE REQUIREMENTS FOR GRANTING A CERTIFICATE  OF
 ABATEMENT  HAVE BEEN SATISFIED. THE DEPARTMENT OF FINANCE SHALL HAVE THE
 AUTHORITY TO REQUIRE THAT STATEMENTS IN CONNECTION WITH SUCH APPLICATION
 BE MADE UNDER OATH.
   6. THE DEPARTMENT OF FINANCE MAY PROVIDE BY RULE FOR REASONABLE ADMIN-
 ISTRATIVE CHARGES OR FEES NECESSARY TO DEFRAY EXPENSES IN  ADMINISTERING
 THE ABATEMENT PROGRAM PROVIDED BY THIS TITLE.
   §  499-EEEEEE.  ENFORCEMENT  AND  ADMINISTRATION.  THE  DEPARTMENT  OF
 FINANCE SHALL HAVE, IN ADDITION  TO  ANY  OTHER  FUNCTIONS,  POWERS  AND
 DUTIES  WHICH  HAVE BEEN OR MAY BE CONFERRED ON IT BY LAW, THE FOLLOWING
 FUNCTIONS, POWERS AND DUTIES:
   1. TO RECEIVE AND REVIEW APPLICATIONS FOR  CERTIFICATES  OF  ABATEMENT
 UNDER  THIS  TITLE AND ISSUE SUCH CERTIFICATES WHERE AUTHORIZED PURSUANT
 TO THIS TITLE.
   2. TO RECEIVE ALL CERTIFICATES OF CONTINUING ELIGIBILITY  REQUIRED  BY
 SECTION FOUR HUNDRED NINETY-NINE-FFFFFF OF THIS TITLE.
   3.  TO COLLECT ALL REAL PROPERTY TAXES, WITH INTEREST AND PENALTY, DUE
 AND OWING AS A RESULT OF REDUCTION, TERMINATION  OR  REVOCATION  OF  ANY
 ABATEMENT GRANTED PURSUANT TO THIS TITLE.
   4.  TO  MAKE  AND  PROMULGATE  RULES TO CARRY OUT THE PURPOSES OF THIS
 TITLE.
   § 499-FFFFFF. REPORTING REQUIREMENTS; REVOCATION OF  ABATEMENTS.    1.
 FOR  THE DURATION OF THE APPLICANT'S BENEFIT PERIOD, THE APPLICANT SHALL
 FILE ANNUALLY WITH THE DEPARTMENT OF FINANCE, ON OR BEFORE JULY FIRST OF
 EACH YEAR, A CERTIFICATE OF CONTINUING ELIGIBILITY CONFIRMING  THAT  THE
 ELIGIBLE PREMISES ARE OCCUPIED BY THE TENANT WHO ORIGINALLY EXECUTED THE
 LEASE  AND  THAT  THE  ELIGIBLE PREMISES ARE BEING USED FOR THE PURPOSES
 A. 7996                             8
 
 DESCRIBED IN THE APPLICATION.  SUCH CERTIFICATE OF CONTINUING  ELIGIBIL-
 ITY SHALL BE ON A FORM PRESCRIBED BY THE DEPARTMENT OF FINANCE AND SHALL
 CONTAIN  SUCH  ADDITIONAL INFORMATION AS THE DEPARTMENT OF FINANCE SHALL
 REQUIRE. THE DEPARTMENT OF FINANCE SHALL HAVE THE AUTHORITY TO TERMINATE
 ABATEMENTS  GRANTED  PURSUANT TO THIS TITLE UPON FAILURE OF AN APPLICANT
 TO FILE SUCH CERTIFICATE BY SUCH JULY FIRST DATE. THE  BURDEN  OF  PROOF
 SHALL  BE ON THE APPLICANT TO ESTABLISH CONTINUING ELIGIBILITY FOR BENE-
 FITS AND THE DEPARTMENT OF FINANCE SHALL HAVE THE AUTHORITY  TO  REQUIRE
 THAT STATEMENTS MADE IN SUCH CERTIFICATE SHALL BE MADE UNDER OATH.
   2. THE DEPARTMENT OF FINANCE SHALL REVOKE ANY ABATEMENT GRANTED PURSU-
 ANT  TO  THIS TITLE WHEN THE TENANT WHO ORIGINALLY EXECUTED THE LEASE IS
 NO LONGER OCCUPYING THE ELIGIBLE PREMISES.   SUCH  REVOCATION  SHALL  BE
 RETROACTIVE  TO  THE DATE THAT SUCH TENANT VACATED THE ELIGIBLE PREMISES
 AND THE DEPARTMENT OF FINANCE SHALL REQUIRE THE LANDLORD  TO  PAY,  WITH
 INTEREST, ANY TAXES WHICH BECOME PAYABLE AS A RESULT OF SUCH REVOCATION.
 THE  LANDLORD  SHALL NOTIFY THE DEPARTMENT OF FINANCE WITHIN THIRTY DAYS
 FOLLOWING THE DATE ON WHICH SUCH TENANT VACATED  THE  ELIGIBLE  PREMISES
 AND,  FOR FAILURE TO COMPLY WITH THIS NOTIFICATION REQUIREMENT, SHALL BE
 LIABLE FOR A PENALTY CALCULATED FOR  THE  SAME  PERIOD  AS  INTEREST  IS
 CALCULATED PURSUANT TO THE PRECEDING SENTENCE.
   3.  IF  ANY  PORTION  OF  THE PREMISES FOR WHICH AN ABATEMENT HAS BEEN
 GRANTED PURSUANT TO THIS TITLE CEASES TO BE OCCUPIED OR USED AS ELIGIBLE
 PREMISES OR IS OCCUPIED BY A SUBTENANT, THE DEPARTMENT OF FINANCE  SHALL
 REDUCE  THE  ABATEMENT GRANTED PURSUANT TO THIS TITLE BY AN AMOUNT EQUAL
 TO THE PERCENTAGE OF SUCH ELIGIBLE PREMISES WHICH HAS CEASED TO BE OCCU-
 PIED OR USED AS ELIGIBLE PREMISES OR IS OCCUPIED BY  A  SUBTENANT.  SUCH
 REDUCTION  SHALL BE RETROACTIVE TO THE DATE THAT SUCH PREMISES CEASED TO
 BE OCCUPIED OR USED AS ELIGIBLE PREMISES OR WAS OCCUPIED BY A SUBTENANT,
 AND THE DEPARTMENT OF FINANCE SHALL REQUIRE THE LANDLORD  TO  PAY,  WITH
 INTEREST,  ANY TAXES WHICH BECOME PAYABLE AS A RESULT OF SUCH REDUCTION.
 THE LANDLORD SHALL NOTIFY THE DEPARTMENT OF FINANCE WITHIN  THIRTY  DAYS
 FOLLOWING  THE  DATE ON WHICH THE PREMISES CEASED TO BE OCCUPIED OR USED
 AS ELIGIBLE PREMISES OR WAS OCCUPIED BY A SUBTENANT AND, FOR FAILURE  TO
 COMPLY  WITH  THIS NOTIFICATION REQUIREMENT, SHALL BE LIABLE FOR PENALTY
 CALCULATED FOR THE SAME PERIOD AS INTEREST IS CALCULATED PURSUANT TO THE
 PRECEDING SENTENCE.
   4. IF, DURING THE BENEFIT PERIOD, ANY REAL PROPERTY TAX  OR  WATER  OR
 SEWER CHARGE OR OTHER LIENABLE CHARGE DUE AND PAYABLE WITH RESPECT TO AN
 ELIGIBLE  BUILDING  SHALL  REMAIN UNPAID FOR AT LEAST ONE YEAR FOLLOWING
 THE DATE UPON WHICH SUCH TAX OR  CHARGE  BECAME  DUE  AND  PAYABLE,  ALL
 ABATEMENTS  GRANTED PURSUANT TO THIS TITLE WITH RESPECT TO SUCH BUILDING
 SHALL BE REVOKED, UNLESS WITHIN THIRTY DAYS FROM THE MAILING OF A NOTICE
 OF REVOCATION  BY  THE  DEPARTMENT  OF  FINANCE  SATISFACTORY  PROOF  IS
 PRESENTED TO THE DEPARTMENT OF FINANCE THAT ANY AND ALL DELINQUENT TAXES
 AND  CHARGES  OWING WITH RESPECT TO SUCH BUILDING AS OF THE DATE OF SUCH
 NOTICE HAVE BEEN PAID IN FULL OR ARE  CURRENTLY  BEING  PAID  IN  TIMELY
 INSTALLMENTS  PURSUANT  TO  A  WRITTEN  AGREEMENT WITH THE DEPARTMENT OF
 FINANCE OR OTHER APPROPRIATE AGENCY. ANY  REVOCATION  PURSUANT  TO  THIS
 SUBDIVISION SHALL BE EFFECTIVE WITH RESPECT TO REAL PROPERTY TAXES WHICH
 BECOME DUE AND PAYABLE FOLLOWING THE DATE OF SUCH REVOCATION.
   5.  THE  DEPARTMENT OF FINANCE MAY DENY, REDUCE, SUSPEND, TERMINATE OR
 REVOKE ANY ABATEMENT GRANTED PURSUANT TO THIS TITLE WHENEVER:
   (A) THE LANDLORD OR THE TENANT RECEIVING ABATEMENT  PURSUANT  TO  THIS
 TITLE  FAILS  TO COMPLY WITH THE REQUIREMENTS OF THIS TITLE OR THE RULES
 PROMULGATED HEREUNDER; OR
 A. 7996                             9
 
   (B) AN APPLICATION, CERTIFICATE, REPORT OR OTHER DOCUMENT SUBMITTED BY
 THE APPLICANT CONTAINS A FALSE OR MISLEADING STATEMENT AS TO A  MATERIAL
 FACT  OR OMITS TO STATE ANY MATERIAL FACT NECESSARY IN ORDER TO MAKE THE
 STATEMENT THEREIN NOT FALSE OR MISLEADING, AND MAY DECLARE ANY APPLICANT
 WHO  MAKES SUCH FALSE OR MISLEADING STATEMENT OR OMISSION TO BE INELIGI-
 BLE FOR FUTURE ABATEMENT PURSUANT TO THIS TITLE FOR THE  SAME  OR  OTHER
 PROPERTY.  IN  ADDITION,  THE  DEPARTMENT  OF  FINANCE SHALL REQUIRE THE
 APPLICANT TO PAY, WITH PENALTY  AND  INTEREST,  ANY  ABATEMENT  RECEIVED
 PURSUANT TO THIS TITLE AS A RESULT OF SUCH FALSE OR MISLEADING STATEMENT
 OR OMISSION OF A MATERIAL FACT.
   6.  NOTWITHSTANDING  ANY OTHER PROVISION OF THIS TITLE, THE DEPARTMENT
 OF FINANCE SHALL DENY, TERMINATE OR REVOKE ANY ABATEMENT APPLIED FOR  OR
 GRANTED  PURSUANT  TO  THIS  TITLE  UPON  A DETERMINATION THAT THE LEASE
 BETWEEN THE LANDLORD AND THE TENANT DOES  NOT  CONSTITUTE  A  BONA  FIDE
 ARM'S  LENGTH  LEASE.  IN  MAKING  SUCH DETERMINATION, THE DEPARTMENT OF
 FINANCE MAY CONSIDER, AMONG OTHER FACTORS,  THE  RELATIONSHIP,  IF  ANY,
 BETWEEN  THE  LANDLORD  AND THE TENANT AND WHETHER THE BUSINESS TERMS OF
 SUCH LEASE ARE CONSISTENT WITH THE BUSINESS  TERMS  GENERALLY  FOUND  IN
 LEASES FOR COMPARABLE SPACE.
   7.  (A) IF ANY PERSON DESCRIBED IN THE STATEMENT REQUIRED BY PARAGRAPH
 (B) OF SUBDIVISION SIX OF SECTION  FOUR  HUNDRED  NINETY-NINE-CCCCCC  OF
 THIS  TITLE  OR PARAGRAPH (B) OF THIS SUBDIVISION IS FINALLY ADJUDICATED
 BY A COURT OF COMPETENT JURISDICTION TO BE GUILTY OF ANY  CHARGE  LISTED
 IN  SUCH STATEMENT, THE DEPARTMENT OF FINANCE SHALL REVOKE THE ABATEMENT
 GRANTED PURSUANT TO THIS TITLE  AND  SHALL  REQUIRE  THE  PAYMENT,  WITH
 INTEREST, OF ANY ABATEMENT RECEIVED PURSUANT TO THIS TITLE.
   (B) THE APPLICANT SHALL, ON THE CERTIFICATE OF CONTINUING ELIGIBILITY,
 STATE  WHETHER  ANY  CHARGES  ALLEGING VIOLATION BY THE APPLICANT OR ANY
 PERSON OWNING A SUBSTANTIAL INTEREST IN THE ELIGIBLE  BUILDING,  OR  ANY
 OFFICER, DIRECTOR OR GENERAL PARTNER OF THE APPLICANT OR PERSON OWNING A
 SUBSTANTIAL  INTEREST  IN  THE ELIGIBLE BUILDING, OR ANY PERSON FOR WHOM
 THE APPLICANT OR PERSON OWNING A SUBSTANTIAL INTEREST  IN  THE  ELIGIBLE
 BUILDING  IS  AN  OFFICER,  DIRECTOR  OR GENERAL PARTNER, OF SECTION TWO
 HUNDRED THIRTY-FIVE OF THE REAL PROPERTY LAW OR ANY SECTION  OF  ARTICLE
 ONE  HUNDRED  FIFTY OF THE PENAL LAW OR ANY SIMILAR ARSON LAW OF ANOTHER
 JURISDICTION, ARE PENDING. FOR PURPOSES OF THIS PARAGRAPH,  "SUBSTANTIAL
 INTEREST"  SHALL  HAVE THE SAME MEANING AS SET FORTH IN PARAGRAPH (C) OF
 SUBDIVISION SIX OF  SECTION  FOUR  HUNDRED  NINETY-NINE-CCCCCC  OF  THIS
 TITLE.
   §  499-GGGGGG.  TAX LIEN; INTEREST AND PENALTY. ALL TAXES, WITH INTER-
 EST, REQUIRED TO BE PAID RETROACTIVELY  PURSUANT  TO  THIS  TITLE  SHALL
 CONSTITUTE  A  TAX  LIEN  AS OF THE DATE IT IS DETERMINED SUCH TAXES AND
 INTEREST ARE OWED. ALL INTEREST SHALL BE CALCULATED FROM  THE  DATE  THE
 TAXES WOULD HAVE BEEN DUE BUT FOR THE ABATEMENT GRANTED PURSUANT TO THIS
 TITLE  AT  THE APPLICABLE RATE OR RATES OF INTEREST IMPOSED BY SUCH CITY
 GENERALLY FOR NON-PAYMENT OF REAL  PROPERTY  TAX  WITH  RESPECT  TO  THE
 ELIGIBLE  BUILDING  FOR THE PERIOD IN QUESTION. WHEN A PROVISION OF THIS
 TITLE REQUIRES THE PAYMENT OF A PENALTY IN  ADDITION  TO  INTEREST,  THE
 AMOUNT  OF  SUCH  PENALTY  SHALL BE EQUAL TO THE AMOUNT OF INTEREST THAT
 WOULD HAVE BEEN PAYABLE PURSUANT TO SUCH  PROVISION  HAD  SUCH  INTEREST
 BEEN CALCULATED AT THE RATE OF THREE PERCENT PER ANNUM.
   §  499-HHHHHH.  CONFIDENTIALITY. 1. EXCEPT IN ACCORDANCE WITH A PROPER
 JUDICIAL ORDER OR AS OTHERWISE PROVIDED BY LAW, IT SHALL BE UNLAWFUL FOR
 THE COMMISSIONER OF FINANCE, ANY OFFICER OR EMPLOYEE OF  THE  DEPARTMENT
 OF  FINANCE,  THE  PRESIDENT  OR  A  COMMISSIONER OR EMPLOYEE OF THE TAX
 COMMISSION, ANY PERSON ENGAGED OR RETAINED BY SUCH  DEPARTMENT  OR  SUCH
 A. 7996                            10
 
 COMMISSION ON AN INDEPENDENT CONTRACT BASIS, OR ANY PERSON WHO, PURSUANT
 TO  THIS  TITLE, IS PERMITTED TO INSPECT ANY INFORMATION SUBMITTED BY AN
 APPLICANT TO THE DEPARTMENT OF FINANCE PURSUANT TO THIS TITLE OR TO WHOM
 A  COPY,  AN ABSTRACT OR A PORTION OF ANY SUCH INFORMATION IS FURNISHED,
 TO DIVULGE OR MAKE KNOWN IN ANY  MANNER  ANY  SUCH  INFORMATION  TO  ANY
 PERSON  NOT  AUTHORIZED  PURSUANT TO THIS TITLE TO INSPECT SUCH INFORMA-
 TION. THE OFFICERS CHARGED WITH CUSTODY OF SUCH INFORMATION SHALL NOT BE
 REQUIRED TO PRODUCE ANY OF IT OR EVIDENCE OF ANYTHING CONTAINED IN IT IN
 ANY ACTION OR PROCEEDING IN ANY COURT EXCEPT ON BEHALF  OF  THE  COMMIS-
 SIONER  OF  FINANCE  IN  AN ACTION OR PROCEEDING UNDER THE PROVISIONS OF
 THIS TITLE, OR ON BEHALF OF ANY PARTY TO ANY ACTION OR PROCEEDING  UNDER
 THE PROVISIONS OF THIS TITLE WHEN SUCH INFORMATION OR FACTS SHOWN THERE-
 BY  ARE  DIRECTLY  INVOLVED  IN  SUCH ACTION OR PROCEEDING, IN EITHER OF
 WHICH EVENTS THE COURT MAY REQUIRE THE PRODUCTION OF, AND MAY  ADMIT  IN
 EVIDENCE  SO  MUCH OF SUCH INFORMATION OR OF THE FACTS SHOWN THEREBY, AS
 ARE PERTINENT TO THE ACTION OR PROCEEDING AND NO  MORE.  NOTHING  HEREIN
 SHALL  BE  CONSTRUED  TO  PROHIBIT THE INSPECTION BY THE LEGAL REPRESEN-
 TATIVES OF THE DEPARTMENT OF FINANCE  OR  THE  TAX  COMMISSION  OF  SUCH
 INFORMATION  SUBMITTED  BY  ANY  APPLICANT  WHO SHALL BRING AN ACTION TO
 CORRECT AN ASSESSMENT.  NOTHING HEREIN SHALL BE  CONSTRUED  TO  PROHIBIT
 THE  DELIVERY  TO AN APPLICANT OR THE APPLICANT'S DULY AUTHORIZED REPRE-
 SENTATIVE OF A CERTIFIED COPY OF ANY INFORMATION SUBMITTED BY AN  APPLI-
 CANT  TO  THE  DEPARTMENT  OF  FINANCE PURSUANT TO THIS TITLE; OR TO ANY
 AGENCY OR ANY DEPARTMENT OF ANY CITY HAVING A POPULATION OF ONE  MILLION
 OR  MORE  PROVIDED  THE  SAME IS REQUESTED FOR OFFICIAL BUSINESS; NOR TO
 PROHIBIT THE INSPECTION FOR OFFICIAL BUSINESS OF SUCH INFORMATION BY THE
 CORPORATION COUNSEL OR OTHER LEGAL REPRESENTATIVES OF A  CITY  HAVING  A
 POPULATION  OF  ONE  MILLION  OR MORE OR BY THE DISTRICT ATTORNEY OF ANY
 COUNTY WITHIN SUCH CITY; NOR TO PROHIBIT THE PUBLICATION  OF  STATISTICS
 SO  CLASSIFIED  AS  TO PREVENT THE IDENTIFICATION OF SUCH INFORMATION OR
 PARTICULAR ITEMS THEREOF.  INFORMATION SUBMITTED BY AN APPLICANT TO  THE
 DEPARTMENT  OF  FINANCE  PURSUANT  TO THIS TITLE SHALL NOT BE SUBJECT TO
 DISCLOSURE PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
   2. ANY VIOLATION OF THE PROVISIONS OF SUBDIVISION ONE OF THIS  SECTION
 SHALL  BE  PUNISHABLE BY A FINE NOT EXCEEDING ONE THOUSAND DOLLARS OR BY
 IMPRISONMENT NOT EXCEEDING ONE YEAR, OR BOTH, AT THE DISCRETION  OF  THE
 COURT,  AND  IF THE OFFENDER BE AN OFFICER OR EMPLOYEE OF THE DEPARTMENT
 OF FINANCE OR OF THE TAX COMMISSION, THE  OFFENDER  SHALL  BE  DISMISSED
 FROM OFFICE.
   § 3. This act shall take effect immediately.