N.Y. Real Property Tax Law § 489-eeeeee: Reporting requirement

§ 489-eeeeee. Reporting requirement. 1. Continuing use. For the

duration of the benefit period, the recipient of benefits shall file

biennially with the department, on or before the appropriate taxable

status date, a statement of the continuing use of such property and any

changes in use that have occurred, provided, however, that any recipient

of benefits receiving benefits for property defined as a peaking unit

shall file such statement biannually. Such filings shall include a

statement that the recipient has not been found by a competent

authority, agency or court to have violated state, city, or municipal

business regulations or ordinances related to payment of taxes, payment

of wages, or fraudulent representation to governmental entities. This

statement shall be in a form determined by the department and may be in

any format the department determines, in its discretion, is appropriate,

including electronic format. The department shall have authority to

terminate such benefits upon failure of a recipient to file such

statement by the appropriate taxable status date. The burden of proof

shall be on the recipient to establish continuing eligibility for

benefits and the department shall have the authority to require that

statements filed under this subdivision be certified.

2. Conversion of construction. A recipient shall file an amendment to

the latest statement of continuing use prior to:

(a) converting square footage within property that is the subject of

benefits for industrial construction work from use for the manufacturing

activities described in such statement of continuing use where such

conversion would result in less than sixty-five percent of total net

square footage being used or held out for use for manufacturing

activities; or

(b) converting any portion of property that is the subject of benefits

for industrial construction work for use for any restricted activity or

as residential property.

(c) For all other use conversions, applicants shall immediately notify

the department of a change in use, in a manner that the department may

determine.

3. Minimum required expenditure. No later than sixty days after the

minimum required expenditure must be made under subdivision one of

section four hundred eighty-nine-cccccc of this title, the applicant

shall submit to the department a certified statement that the applicant

has made the minimum required expenditure as required by this title.

4. Business operation data. A recipient shall biennially file a report

with the department, on or before the appropriate taxable status date,

regarding certain business operation data relating to the recipient's

economic impact and outcomes for the duration of the benefit period,

provided, however, that any recipient of benefits for property defined

as a peaking unit shall file such statement biannually. Such report

shall contain information including, but not limited to, tenancy data,

information regarding employment creation and job retention and any

other information deemed relevant by the department.