N.Y. Real Property Tax Law § 489-ggg: Continuation of tax exemption; termination of tax exemption

§ 489-ggg. Continuation of tax exemption; termination of tax

exemption. The tax exemption approved by the board shall continue in

accordance with this title, provided that the applicant files an annual

certificate of continuing use stating that the structure and property

continue to be used for the industrial or commercial purposes justifying

the issuance of the certificate of eligibility. The certificate of

continuing use shall be filed with the tax commission on such form or

forms and containing such information as shall be prescribed by the tax

commission. The tax commission shall have authority to terminate a tax

exemption on failure of an applicant to file an annual certificate of

continuing use or on the recommendation of the finance commissioner who,

in reviewing the certificate filed by an applicant, has determined that

the structure or property has ceased to be used for the industrial or

commercial purposes justifying the issuance of the certificate of

eligibility.