N.Y. Real Property Tax Law § 412-a: Industrial development agencies

§ 412-a. Industrial development agencies. 1. Real property owned by or

under the jurisdiction, supervision or control of industrial development

agencies enumerated in the general municipal law shall be entitled to

such exemption as may be provided therein.

2. Application for such exemption must be made by the agency on a form

prescribed by the commissioner and shall be filed in the office of the

assessor on or before the appropriate taxable status date for the year

in which the exemption is first claimed. At such time, copies of such

application shall be mailed or delivered to the chief elected official

of each school district, city, county, town and village within which the

project is located. Such application shall include an extract of the

terms of any agreement relating to the project. No application shall be

required in subsequent years unless the terms of the agreement are

modified or changed.