N.Y. Real Property Tax Law § 489-eeeee: Reporting requirement; termination of benefits

§ 489-eeeee. Reporting requirement; termination of benefits. 1. Upon

approval of the department of buildings of the plans submitted in

connection with the building permit and any amendments to such plans,

the recipient shall file with the department of finance a narrative

description of such approved plans describing the residential

construction work or combination of residential construction work and

commercial construction work for which the recipient seeks benefits

pursuant to this title.

2. For the duration of the benefit period, the recipient shall file

annually with the department of finance, on or before the taxable status

date, a certificate of continuing use. Such certificate of continuing

use shall be on a form prescribed by the department of finance. The

department of finance shall have the authority to require such

information as it deems necessary to enable it to determine whether the

recipient has established continuing eligibility for benefits. The

department of finance shall have the authority to terminate benefits

pursuant to this title upon failure of the recipient to file such

certificate by the taxable status date. The burden of proof shall be on

the recipient to establish continuing eligibility for benefits and the

department of finance shall have the authority to require that

statements made in such certificate shall be made under oath.

3. A recipient shall file an amendment to the latest certificate of

continuing use prior to (a) converting square footage within property

which is the subject of a certificate of eligibility from the

residential and commercial uses described in such certificate of

continuing use where such conversion results in twenty-five per centum

or less of the aggregate floor area being used or held out for use as

commercial, community facility or accessory use space; or (b) converting

any portion of property which is the subject of a certificate of

eligibility to use for any restricted activity.

4. Not later than eighteen months after the effective date of a

certificate of eligibility, with an effective date of July first,

nineteen hundred ninety-five or after, the recipient shall present

evidence to the department of finance demonstrating that the recipient

has made one-half the minimum required expenditure. Not later than

thirty-six months after the effective date of such certificate, such

recipient shall present evidence to such department demonstrating that

the recipient has made the minimum required expenditure. Such evidence

shall be presented in the form and manner prescribed by such department.

The burden of proof shall be on the recipient to show by clear and

convincing evidence that the required expenditures have been made.