N.Y.C. Admin. Code § 11-276: § 11-276 Penalties for non-compliance, false statements and omissions.

Denial, reduction, suspension, termination or revocation. The department may deny, reduce, suspend, terminate or revoke any abatement benefits where:

a. A recipient fails to comply with the requirements of this part or the related rules promulgated by the department; or

b. An application, certificate, report or other document delivered by an applicant or recipient hereunder contains a false or misleading statement as to a material fact or omits to state any material fact necessary to make the statements not false or misleading, and may declare any applicant or recipient who makes such false or misleading statement or omission ineligible for future tax abatements for this property or another property.