Section 467-A. Partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more

1. Definitions. As used in this
  section:
    (a) "Applicant" means the board of managers of a  condominium  or  the
  board of directors of a cooperative apartment corporation.
    (b)  "Average unit assessed value" means the residential proportion of
  a property multiplied by  the  total  assessed  value  of  the  property
  divided  by  the  number  of  dwelling  units  therein on the applicable
  taxable status date for the fiscal year for which an application is made
  for partial abatement of real property taxes pursuant to this section.
    (c)  "Billable  assessed  value"  means  the  lesser  of  the  taxable
  transitional  assessed  value, as computed pursuant to subdivision three
  of section eighteen hundred five of this chapter,  or  taxable  assessed
  value of a property.
    (d)  "Commissioner  of finance" means the commissioner of finance of a
  city having a population of one million or more, or his or her designee.
    (e) "Dwelling unit"  means  a  unit  used  primarily  for  residential
  purposes and not primarily for professional or commercial purposes.
    (f)  "Property"  means real property designated as class two, pursuant
  to section eighteen hundred two of this chapter, held in the cooperative
  or condominium form of ownership.
    (g) "Residential proportion" of a property  held  in  the  cooperative
  form  of  ownership  means  the  percentage of shares of the cooperative
  apartment  corporation  allocated  to   dwelling   units.   "Residential
  proportion"  of  a  property  held  in the condominium form of ownership
  means the percentage of common interest allocated to dwelling units.
    (h) "Sponsors" means persons or business entities  who  make  or  take
  part  in a public offering or sale of securities consisting primarily of
  shares or investments in real estate, including  condominium  units  and
  other  cooperative  interests  in  realty.  Sponsors  shall be deemed to
  include successors who succeed to the rights and assume the  obligations
  of sponsors.
    2.  (a) In a city having a population of one million or more, dwelling
  units owned by unit owners who, as  of  the  applicable  taxable  status
  date,  own no more than three dwelling units in any one property held in
  the condominium form of  ownership,  shall  be  eligible  to  receive  a
  partial abatement of real property taxes, as set forth in paragraphs (c)
  and  (d) of this subdivision; provided, however, that a property held in
  the condominium form of ownership that is receiving complete or  partial
  real  property  tax  exemption  or  tax  abatement pursuant to any other
  provision of this chapter or any other state or  local  law,  except  as
  provided  in paragraph (f) of this subdivision, shall not be eligible to
  receive a partial abatement pursuant  to  this  section;  and  provided,
  further,  that  sponsors  shall  not  be  eligible  to receive a partial
  abatement pursuant to this section.
    (b) In a city having a population of one  million  or  more,  dwelling
  units  owned  by  tenant-stockholders  who, as of the applicable taxable
  status date, own no more than three dwelling units in any  one  property
  held  in the cooperative form of ownership, shall be eligible to receive
  a partial abatement of real property taxes, as set forth  in  paragraphs
  (c) and (d) of this subdivision; provided, however, that a property held
  in  the  cooperative  form  of  ownership  that is receiving complete or
  partial real property tax exemption or tax  abatement  pursuant  to  any
  other  provision of this chapter or any other state or local law, except
  as provided in paragraph (f) of this subdivision, shall not be  eligible
  to  receive  a partial abatement pursuant to this section; and provided,
  further, that sponsors shall  not  be  eligible  to  receive  a  partial

  abatement  pursuant  to  this  section.  For purposes of this section, a
  tenant-stockholder of  a  cooperative  apartment  corporation  shall  be
  deemed  to  own  the  dwelling  unit  which is represented by his or her
  shares  of  stock in such corporation. Any abatement so granted shall be
  credited by the appropriate taxing authority against the tax due on  the
  property  as  a  whole.  The  reduction  in real property taxes received
  thereby shall be  credited  by  the  cooperative  apartment  corporation
  against the amount of such taxes attributable to eligible dwelling units
  at the time of receipt.
    (c)  Eligible  dwelling  units in property whose average unit assessed
  value is less than or equal to fifteen thousand dollars shall receive  a
  partial  abatement  of the real property taxes attributable to or due on
  such dwelling units, as follows:
    (i) not to exceed four  percent  in  the  fiscal  year  commencing  in
  calendar year nineteen hundred ninety-six;
    (ii)  sixteen  percent  in the fiscal year commencing in calendar year
  nineteen hundred ninety-seven;
    (iii) twenty-five percent in the fiscal year  commencing  in  calendar
  year nineteen hundred ninety-eight;
    (iv)  twenty-five  percent  in  the fiscal year commencing in calendar
  year nineteen hundred ninety-nine;
    (v) twenty-five percent in the fiscal year commencing in calendar year
  two thousand;
    (vi) twenty-five percent in the fiscal  year  commencing  in  calendar
  year two thousand one;
    (vii)  twenty-five  percent  in the fiscal year commencing in calendar
  year two thousand two;
    (viii) twenty-five percent in the fiscal year commencing  in  calendar
  year two thousand three;
    (ix)  twenty-five  percent  in  the fiscal year commencing in calendar
  year two thousand four;
    (x) twenty-five percent in the fiscal year commencing in calendar year
  two thousand five;
    (xi) twenty-five percent in the fiscal  year  commencing  in  calendar
  year two thousand six;
    (xii)  twenty-five  percent  in the fiscal year commencing in calendar
  year two thousand seven;
    (xiii) twenty-five percent in the fiscal year commencing  in  calendar
  year two thousand eight;
    (xiv)  twenty-five  percent  in the fiscal year commencing in calendar
  year two thousand nine;
    (xv) twenty-five percent in the fiscal  year  commencing  in  calendar
  year two thousand ten;
    (xvi)  twenty-five  percent  in the fiscal year commencing in calendar
  year two thousand eleven.
    (d) Eligible dwelling units in property whose  average  unit  assessed
  value  is  greater than fifteen thousand dollars shall receive a partial
  abatement of the real property taxes attributable  to  or  due  on  such
  dwelling units, as follows:
    (i)  not  to  exceed two and three-quarters percent in the fiscal year
  commencing in calendar year nineteen hundred ninety-six;
    (ii) ten and three-quarters percent in the fiscal year  commencing  in
  calendar year nineteen hundred ninety-seven;
    (iii)  seventeen and one-half percent in the fiscal year commencing in
  calendar year nineteen hundred ninety-eight;
    (iv) seventeen and one-half percent in the fiscal year  commencing  in
  calendar year nineteen hundred ninety-nine;

    (v)  seventeen  and  one-half percent in the fiscal year commencing in
  calendar year two thousand;
    (vi)  seventeen  and one-half percent in the fiscal year commencing in
  calendar year two thousand one;
    (vii) seventeen and one-half percent in the fiscal year commencing  in
  calendar year two thousand two;
    (viii) seventeen and one-half percent in the fiscal year commencing in
  calendar year two thousand three;
    (ix)  seventeen  and one-half percent in the fiscal year commencing in
  calendar year two thousand four;
    (x) seventeen and one-half percent in the fiscal  year  commencing  in
  calendar year two thousand five;
    (xi)  seventeen  and one-half percent in the fiscal year commencing in
  calendar year two thousand six;
    (xii) seventeen and one-half percent in the fiscal year commencing  in
  calendar year two thousand seven;
    (xiii) seventeen and one-half percent in the fiscal year commencing in
  calendar year two thousand eight;
    (xiv)  seventeen and one-half percent in the fiscal year commencing in
  calendar year two thousand nine;
    (xv) seventeen and one-half percent in the fiscal year  commencing  in
  calendar year two thousand ten;
    (xvi)  seventeen and one-half percent in the fiscal year commencing in
  calendar year two thousand eleven.
    (e) Partial abatement pursuant to  paragraphs  (c)  and  (d)  of  this
  subdivision   shall   be   computed  on  the  net  real  property  taxes
  attributable to or due on eligible dwelling units  after  deduction  for
  any  exemption  on  such dwelling units received pursuant to any section
  listed in paragraph (f) of this subdivision and after deduction  of  the
  portion  of  any  abatement  received  pursuant  to section four hundred
  eighty-nine of this article that is attributable to a dwelling  unit  in
  property  held  in the cooperative form of ownership and after deduction
  of any abatement received pursuant to section four  hundred  eighty-nine
  of  this  article by a dwelling unit in property held in the condominium
  form of ownership.
    (f) For purposes of this subdivision, a property shall be  deemed  not
  to  be  receiving complete or partial real property tax exemption or tax
  abatement if the property is, or certain  dwelling  units  therein  are,
  receiving  benefits  pursuant to section four hundred, four hundred two,
  four hundred four, four hundred six, four hundred  eight,  four  hundred
  ten,  four  hundred  ten-a,  four hundred twelve, four hundred twelve-a,
  four hundred sixteen, four hundred eighteen, four hundred twenty-a, four
  hundred twenty-b, four hundred  thirty-six,  four  hundred  fifty-eight,
  four   hundred  fifty-eight-a,  four  hundred  sixty-two,  four  hundred
  sixty-seven,   four   hundred    sixty-seven-b,    or    four    hundred
  ninety-nine-bbb, or four hundred ninety-nine-bbbb of this article, or if
  the  property  is  receiving  a  tax  abatement  but not a tax exemption
  pursuant to section four hundred eighty-nine of this article.
    (g) If the billable assessed value of a property is reduced after  the
  assessment roll becomes final, any abatement already granted pursuant to
  this  section  shall be adjusted accordingly. The difference between the
  original abatement and the adjusted abatement shall be deducted from any
  credit otherwise due.
    (h)  Notwithstanding  any  other  provision  of  this   section,   the
  commissioner  of  finance  shall deny, terminate or revoke any abatement
  applied for or granted pursuant  to  this  section  with  respect  to  a
  dwelling  unit  upon  a determination that the transfer of such dwelling
  unit to the owner who owned such dwelling  unit  as  of  the  applicable

  taxable  status  date was made primarily for the purpose of receiving an
  abatement under  this  section.  Upon  making  such  determination,  the
  commissioner  of  finance  shall deny, terminate or revoke any abatement
  applied  for  or  granted  pursuant  to this section with respect to any
  dwelling unit owned by the transferor that would have been eligible  but
  for  such  determination. In making such determination, the commissioner
  of finance may consider, among other factors, the relationship, if  any,
  between  the  transferor and the transferee and whether the terms of the
  transfer are consistent with the terms generally found in  transfers  of
  comparable dwelling units.
    3.  Application  for  abatement.   (a) An application for an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  nineteen hundred ninety-six shall be made no later  than  the  fifteenth
  day  of  September,  nineteen  hundred ninety-six. An application for an
  abatement pursuant to this section for the  fiscal  year  commencing  in
  calendar  year nineteen hundred ninety-seven shall be made no later than
  the first day of April, nineteen hundred  ninety-seven.  An  application
  for an abatement pursuant to this section for the fiscal year commencing
  in  calendar  year  nineteen hundred ninety-eight shall be made no later
  than  the  first  day  of  April,  nineteen  hundred  ninety-eight.   An
  application  for  an  abatement  pursuant to this section for the fiscal
  year commencing in calendar year nineteen hundred ninety-nine  shall  be
  made in accordance with this subdivision and subdivision three-a of this
  section.  An  application  for an abatement pursuant to this section for
  the fiscal year commencing in calendar year two thousand shall  be  made
  no   later  than  the  fifteenth  day  of  February,  two  thousand.  An
  application for an abatement pursuant to this  section  for  the  fiscal
  year  commencing  in  calendar  year  two  thousand one shall be made in
  accordance  with  this  subdivision  and  subdivision  three-b  of  this
  section.  An  application  for an abatement pursuant to this section for
  the fiscal year commencing in calendar year two thousand  two  shall  be
  made  no later than the fifteenth day of February, two thousand two.  An
  application for an abatement pursuant to this  section  for  the  fiscal
  year  commencing  in  calendar  year two thousand three shall be made no
  later than the  fifteenth  day  of  February,  two  thousand  three.  An
  application  for  an  abatement  pursuant to this section for the fiscal
  year commencing in calendar year two thousand  four  shall  be  made  in
  accordance  with  this  subdivision  and  subdivision  three-c  of  this
  section. An application for an abatement pursuant to  this  section  for
  the  fiscal  year commencing in calendar year two thousand five shall be
  made no later than the fifteenth day of February, two thousand five.  An
  application  for  an  abatement  pursuant to this section for the fiscal
  year commencing in calendar year two thousand six shall be made no later
  than the fifteenth day of February, two thousand six. An application for
  an abatement pursuant to this section for the fiscal year commencing  in
  calendar  year  two  thousand  seven  shall  be  made  no later than the
  fifteenth day of  February,  two  thousand  seven.  An  application  for
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand eight shall be made in accordance  with  this
  subdivision  and subdivision three-d of this section. An application for
  an abatement pursuant to this section for the fiscal year commencing  in
  calendar  year  two  thousand  nine  shall  be  made  no  later than the
  fifteenth day of February, two thousand  nine.  An  application  for  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand ten shall be made no later than the fifteenth
  day of February, two thousand  ten.  An  application  for  an  abatement
  pursuant to this section for the fiscal year commencing in calendar year

  two  thousand  eleven  shall  be made no later than the fifteenth day of
  February, two thousand eleven.
    (b)  An application for an abatement pursuant to this section shall be
  submitted to the commissioner of finance by the board of managers  of  a
  condominium  or  the  board  of  directors  of  a  cooperative apartment
  corporation.
    (c) No abatement pursuant to this section shall be granted unless  the
  applicant  files an application for an abatement within the time periods
  prescribed in paragraph (a) of this subdivision or subdivision  three-a,
  three-b, three-c or three-d of this section, provided, however, that the
  commissioner  of  finance may, for good cause shown, extend the time for
  filing an application.
    (d) The commissioner of  finance  shall  determine  the  form  of  the
  application  and the information which it shall contain. The information
  contained in the application shall  be  provided  with  respect  to  the
  property  as of the taxable status date for the fiscal year to which the
  application relates. Such information shall include,  but  need  not  be
  limited to:
    (i)  physical data, such as a description of the property, stating the
  number of stories, the number of dwelling and non-dwelling  units,  unit
  designations with their locations, approximate area of each unit, number
  of  rooms in each unit, common interest of or number of shares allocated
  to each unit, and the total number of shares in a cooperative  apartment
  corporation;
    (ii)  the  names  and social security or tax identification numbers of
  owners of all units;
    (iii) the names and social security or tax identification  numbers  of
  sponsors owning units; and
    (iv)  the  name  and  address of the person designated by the board of
  directors or board of managers for receipt of notices issued pursuant to
  this section.
    (e) The burden of proof shall be on the applicant  to  show  that  the
  requirements  for  granting an abatement have been met. The commissioner
  of finance shall have  the  authority  to  require  that  statements  in
  connection with such application be made under oath by a duly authorized
  member  of  the  board  of directors or managers. Such application shall
  contain the following  declaration:  "I  certify  that  all  information
  contained  in  this  application  is  true and correct to the best of my
  knowledge and belief. I understand that the willful making of any  false
  statement  of  material fact herein will subject me to the provisions of
  law relevant to the making and filing  of  false  instruments  and  will
  render  this  application  null  and  void." Such application shall also
  state that the applicant agrees to comply with and  be  subject  to  the
  rules  issued  from time to time by the commissioner of finance pursuant
  to this section.
    (f) Notwithstanding any  other  provision  of  law  to  the  contrary,
  application  by  the  board  of  directors  of  a  cooperative apartment
  corporation for an abatement pursuant to this  section  for  the  fiscal
  year  commencing  in  calendar  year  two  thousand shall be made by the
  filing of an information return pursuant to subdivision (g)  of  section
  11-2105  of the administrative code of the city of New York, as added by
  local law number fifty-eight of the  city  of  New  York  for  the  year
  nineteen  hundred  eighty-nine,  including  an election by such board of
  directors that such information return be deemed an application  for  an
  abatement  pursuant  to  this  section  for  such fiscal year, provided,
  however, that where the board of  directors  files  the  application  on
  behalf  of  a cooperative apartment corporation that is not receiving an
  abatement pursuant to this section for the  fiscal  year  commencing  in

  calendar  year nineteen hundred ninety-nine, then the board of directors
  shall be required  to  file,  in  addition  to  the  information  return
  pursuant  to  subdivision  (g)  of section 11-2105 of the administrative
  code  of  the city of New York, as added by local law number fifty-eight
  of the city of New York for the year nineteen hundred  eighty-nine,  any
  information  return  covering  a  reporting period beginning on or after
  January first, nineteen hundred ninety-six,  that  has  not  been  filed
  previously.  Information  returns that are deemed to be applications for
  an abatement  pursuant  to  this  paragraph  shall  be  subject  to  the
  provisions  of this section relating to such applications including, but
  not limited to, the provisions of this subdivision and subdivision  four
  of this section.
    (g)  Notwithstanding  any  other  provision  of  law  to the contrary,
  application by  the  board  of  directors  of  a  cooperative  apartment
  corporation  for  an  abatement  pursuant to this section for either the
  fiscal year commencing in calendar year two thousand two or  the  fiscal
  year commencing in calendar year two thousand three shall be made by the
  filing  of  an information return pursuant to subdivision (g) of section
  11-2105 of the administrative code of the city of New York, as added  by
  local  law  number  fifty-eight  of  the  city  of New York for the year
  nineteen hundred eighty-nine, including an election  by  such  board  of
  directors  that  such information return be deemed an application for an
  abatement pursuant to this  section  for  such  fiscal  year,  provided,
  however,  that  where  the  board  of  directors files an application on
  behalf of a cooperative apartment corporation that is not  receiving  an
  abatement  pursuant  to  this  section  for  the fiscal year immediately
  preceding the fiscal year for which the application is filed,  then  the
  board  of  directors  shall  be  required  to  file,  in addition to the
  information return pursuant to subdivision (g) of section 11-2105 of the
  administrative code of the city of New  York,  as  added  by  local  law
  number fifty-eight of the city of New York for the year nineteen hundred
  eighty-nine,   any   information  return  covering  a  reporting  period
  beginning on or after January first, nineteen hundred  ninety-six,  that
  has not been filed previously. Information returns that are deemed to be
  applications  for  an  abatement  pursuant  to  this  paragraph shall be
  subject to the provisions of this section relating to such  applications
  including,  but  not  limited to, the provisions of this subdivision and
  subdivision four of this section.
    (h) Notwithstanding any  other  provision  of  law  to  the  contrary,
  application  by  the  board  of  directors  of  a  cooperative apartment
  corporation for an abatement pursuant to this  section  for  either  the
  fiscal  year commencing in calendar year two thousand five or the fiscal
  year commencing in the calendar year two thousand six or the fiscal year
  commencing in the calendar year two thousand seven or  the  fiscal  year
  commencing  in  the  calendar year two thousand eight or the fiscal year
  commencing in the calendar year two thousand nine  or  the  fiscal  year
  commencing  in  the  calendar  year  two thousand ten or the fiscal year
  commencing in the calendar year two thousand eleven shall be made by the
  filing of an information return pursuant to subdivision (g)  of  section
  11-2105  of the administrative code of the city of New York, as added by
  local law number fifty-eight of the  city  of  New  York  for  the  year
  nineteen  hundred  eighty-nine,  including  an election by such board of
  directors that such information return be deemed an application  for  an
  abatement  pursuant  to  this  section  for  such fiscal year, provided,
  however, that where the board  of  directors  files  an  application  on
  behalf  of  a cooperative apartment corporation that is not receiving an
  abatement pursuant to this  section  for  the  fiscal  year  immediately
  preceding  the  fiscal year for which the application is filed, then the

  board of directors shall  be  required  to  file,  in  addition  to  the
  information return pursuant to subdivision (g) of section 11-2105 of the
  administrative  code  of  the  city  of  New York, as added by local law
  number fifty-eight of the city of New York for the year nineteen hundred
  eighty-nine,   any   information  return  covering  a  reporting  period
  beginning on or after January first, nineteen hundred  ninety-six,  that
  has not been filed previously. Information returns that are deemed to be
  applications  for  an  abatement  pursuant  to  this  paragraph shall be
  subject to the provisions of this section relating to such  applications
  including,  but  not  limited to, the provisions of this subdivision and
  subdivision four of this section.
    3-a. (a) An applicant whose property  did  not  receive  an  abatement
  pursuant to this section for the fiscal year commencing in calendar year
  nineteen  hundred  ninety-eight  shall  submit  an  application  for  an
  abatement pursuant to this section for the  fiscal  year  commencing  in
  calendar  year  nineteen  hundred  ninety-nine  no later than sixty days
  following the effective date of the chapter  of  the  laws  of  nineteen
  hundred ninety-nine that added this subdivision.
    (b)  The  abatement  for  the  fiscal year commencing in calendar year
  nineteen hundred ninety-nine of a cooperative apartment corporation that
  received an abatement pursuant to  this  section  for  the  fiscal  year
  commencing  in  calendar  year  nineteen  hundred  ninety-eight and that
  submitted an information update  form  on  or  before  April  fifteenth,
  nineteen  hundred  ninety-nine pursuant to a request by the commissioner
  of finance,  shall  be  based  on  the  information  contained  in  such
  information update form.
    (c)  The  abatement  for  the  fiscal year commencing in calendar year
  nineteen hundred ninety-nine of a cooperative apartment corporation that
  received an abatement pursuant to  this  section  for  the  fiscal  year
  commencing  in  calendar year nineteen hundred ninety-eight and that did
  not submit an information update form  on  or  before  April  fifteenth,
  nineteen  hundred  ninety-nine pursuant to a request by the commissioner
  of  finance,  shall  be  based  on  the  information  contained  in  the
  application  submitted  in  nineteen hundred ninety-eight, provided that
  nothing in this paragraph shall authorize or require the commissioner of
  finance to grant an abatement with respect to a property or  a  dwelling
  unit  that  is not eligible as of the applicable taxable status date for
  the  fiscal  year  commencing  in   calendar   year   nineteen   hundred
  ninety-nine.
    (d)  The board of managers of a condominium that received an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  nineteen  hundred  ninety-eight  shall  submit  an  application  for  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year nineteen hundred ninety-nine  no  later  than  sixty  days
  following  the  effective  date  of  the chapter of the laws of nineteen
  hundred ninety-nine that  added  this  subdivision.  If  such  board  of
  managers  does  not  submit such application within sixty days following
  the effective date of the  chapter  of  the  laws  of  nineteen  hundred
  ninety-nine  that  added  this  subdivision,  then the abatement for the
  fiscal year commencing in calendar year nineteen hundred ninety-nine for
  such condominium shall be based on  the  information  contained  in  the
  application  submitted  in  nineteen hundred ninety-eight, provided that
  nothing in this paragraph shall authorize or require the commissioner of
  finance to grant an abatement with respect to a property or  a  dwelling
  unit  that  is not eligible as of the applicable taxable status date for
  the  fiscal  year  commencing  in   calendar   year   nineteen   hundred
  ninety-nine.

    3-b.  (a)  An  applicant  whose  property did not receive an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand shall submit an application for an  abatement  pursuant  to
  this  section  for  the  fiscal  year  commencing  in  calendar year two
  thousand  one  no  later than sixty days following the effective date of
  the chapter of the laws of two thousand one that added this subdivision.
    (b) The abatement for the fiscal year commencing in calendar year  two
  thousand  one  of  a  cooperative apartment corporation that received an
  abatement pursuant to this section for the  fiscal  year  commencing  in
  calendar  year  two thousand and that submitted an information return on
  or before  February  fifteenth,  two  thousand  one,  that  included  an
  election  by  the  board  of  directors  of  such  cooperative apartment
  corporation that such information return be deemed an application for an
  abatement pursuant to this section for such fiscal year, shall be  based
  on the information contained in such information return.
    (c)  The abatement for the fiscal year commencing in calendar year two
  thousand one of a cooperative apartment  corporation  that  received  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand and that submitted an information  return  on
  or  before February fifteenth, two thousand one, that did not include an
  election by  the  board  of  directors  of  such  cooperative  apartment
  corporation that such information return be deemed an application for an
  abatement  pursuant to this section for such fiscal year, shall be based
  on the  information  contained  in  the  application  submitted  in  two
  thousand  or on the information contained in such information return, or
  both, provided that nothing in this paragraph shall authorize or require
  the commissioner of finance to grant an  abatement  with  respect  to  a
  property  or  a  dwelling unit that is not eligible as of the applicable
  taxable status date for the fiscal year commencing in calendar year  two
  thousand one.
    (d)  The board of managers of a condominium that received an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand shall submit an application for an  abatement  pursuant  to
  this  section  for  the  fiscal  year  commencing  in  calendar year two
  thousand one no later than sixty days following the  effective  date  of
  the chapter of the laws of two thousand one that added this subdivision.
  If  such board of managers does not submit such application within sixty
  days following the effective date of the chapter  of  the  laws  of  two
  thousand  one  that  added  this subdivision, then the abatement for the
  fiscal year commencing in  calendar  year  two  thousand  one  for  such
  condominium   shall  be  based  on  the  information  contained  in  the
  application submitted in two thousand, provided  that  nothing  in  this
  paragraph  shall  authorize  or  require  the commissioner of finance to
  grant an abatement with respect to a property or a dwelling unit that is
  not eligible as of the applicable taxable status  date  for  the  fiscal
  year commencing in calendar year two thousand one.
    3-c.  (a)  An  applicant  whose  property did not receive an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand three shall submit an application for an abatement pursuant
  to this section for the fiscal year  commencing  in  calendar  year  two
  thousand  four  no later than sixty days following the effective date of
  the  chapter  of  the  laws  of  two  thousand  four  that  added   this
  subdivision.
    (b)  The abatement for the fiscal year commencing in calendar year two
  thousand four of a cooperative apartment corporation  that  received  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand  three  and  that  submitted  an  information
  return on or before February fifteenth, two thousand four, that included

  an  election  by  the  board  of directors of such cooperative apartment
  corporation that such information return be deemed an application for an
  abatement pursuant to this section for such fiscal year, shall be  based
  on the information contained in such information return.
    (c)  The abatement for the fiscal year commencing in calendar year two
  thousand four of a cooperative apartment corporation  that  received  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand  three  and  that  submitted  an  information
  return  on or before February fifteenth, two thousand four, that did not
  include an election by  the  board  of  directors  of  such  cooperative
  apartment   corporation  that  such  information  return  be  deemed  an
  application for an abatement pursuant to this section  for  such  fiscal
  year,  shall  be  based  on the information contained in the application
  submitted in two thousand three or on the information contained in  such
  information  return,  or  both,  provided that nothing in this paragraph
  shall authorize or require the  commissioner  of  finance  to  grant  an
  abatement  with  respect  to  a  property or a dwelling unit that is not
  eligible as of the applicable taxable status date for  the  fiscal  year
  commencing in calendar year two thousand four.
    (d)  The board of managers of a condominium that received an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand three shall submit an application for an abatement pursuant
  to this section for the fiscal year  commencing  in  calendar  year  two
  thousand  four  no later than sixty days following the effective date of
  the  chapter  of  the  laws  of  two  thousand  four  that  added   this
  subdivision.  If such board of managers does not submit such application
  within sixty days following the effective date of  the  chapter  of  the
  laws  of  two  thousand  four  that  added  this  subdivision,  then the
  abatement for the fiscal year commencing in calendar year  two  thousand
  four for such condominium shall be based on the information contained in
  the  application  submitted in two thousand three, provided that nothing
  in this paragraph shall authorize or require the commissioner of finance
  to grant an abatement with respect to a property or a dwelling unit that
  is not eligible as of the applicable taxable status date for the  fiscal
  year commencing in calendar year two thousand four.
    3-d.  (a)  an  applicant  whose  property did not receive an abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand seven shall submit an application for an abatement pursuant
  to this section for the fiscal year  commencing  in  calendar  year  two
  thousand  eight no later than sixty days following the effective date of
  the  chapter  of  the  laws  of  two  thousand  eight  that  added  this
  subdivision.
    (b)  the abatement for the fiscal year commencing in calendar year two
  thousand eight of a cooperative apartment corporation that  received  an
  abatement  pursuant  to  this  section for the fiscal year commencing in
  calendar year two thousand  seven  and  that  submitted  an  information
  return  on  or  before  February  fifteenth,  two  thousand  eight, that
  included an election by the  board  of  directors  of  such  cooperative
  apartment   corporation  that  such  information  return  be  deemed  an
  application for an abatement pursuant to this section  for  such  fiscal
  year,  shall  be  based on the information contained in such information
  return.
    (c) the abatement for the fiscal year commencing in calendar year  two
  thousand  eight  of a cooperative apartment corporation that received an
  abatement pursuant to this section for the  fiscal  year  commencing  in
  calendar  year  two  thousand  seven  and  that submitted an information
  return on or before February fifteenth, two thousand eight, that did not
  include an election by  the  board  of  directors  of  such  cooperative

  apartment   corporation  that  such  information  return  be  deemed  an
  application for an abatement pursuant to this section  for  such  fiscal
  year,  shall  be  based  on the information contained in the application
  submitted  in two thousand seven or on the information contained in such
  information return, or both, provided that  nothing  in  this  paragraph
  shall  authorize  or  require  the  commissioner  of finance to grant an
  abatement with respect to a property or a  dwelling  unit  that  is  not
  eligible  as  of  the applicable taxable status date for the fiscal year
  commencing in calendar year two thousand eight.
    (d) the board of managers of a condominium that received an  abatement
  pursuant to this section for the fiscal year commencing in calendar year
  two thousand seven shall submit an application for an abatement pursuant
  to  this  section  for  the  fiscal year commencing in calendar year two
  thousand eight no later than sixty days following the effective date  of
  the  chapter  of  the  laws  of  two  thousand  eight  that  added  this
  subdivision. If such board of managers does not submit such  application
  within  sixty  days  following  the effective date of the chapter of the
  laws of two  thousand  eight  that  added  this  subdivision,  then  the
  abatement  for  the fiscal year commencing in calendar year two thousand
  eight for such condominium shall be based on the  information  contained
  in  the  application  submitted  in  two  thousand  seven, provided that
  nothing in this paragraph shall authorize or require the commissioner of
  finance to grant an abatement with respect to a property or  a  dwelling
  unit  that  is not eligible as of the applicable taxable status date for
  the fiscal year commencing in calendar year two thousand eight.
    4. Except in accordance with proper judicial  order  or  as  otherwise
  provided by law, neither the commissioner of finance, nor any officer or
  employee of a department of finance of a city having a population of one
  million  or  more,  nor any person who, pursuant to this subdivision, is
  authorized to  inspect  the  application  or  statements  in  connection
  therewith  required  by  this  section, shall disclose or make known the
  contents of any such application or statements. Except  as  provided  in
  this  subdivision,  the  officers  charged  with the custody of any such
  application or statements shall not be required to produce them  in  any
  action or proceeding in any court or before any administrative tribunal,
  but  any such application or statements may be produced on behalf of the
  department of finance. Nothing in this subdivision shall be construed to
  prohibit the delivery of a certified copy of  any  such  application  or
  statements  to  the  United States of America or any department thereof,
  the state of New York or any department thereof,  or  a  city  having  a
  population  of  one  million or more or any department thereof, provided
  any such application or statements are required for  official  business;
  nor  to  prohibit  the  inspection  for  official  business  of any such
  application or statements by the tax  commission  of  a  city  having  a
  population  of  one  million  or  more, or by the corporation counsel or
  other legal representative of a city having a population of one  million
  or  more,  or  by  any  person  engaged or retained by the department of
  finance  on  an  independent  contract  basis;  nor  to   prohibit   the
  publication   of   statistics   so   classified   as   to   prevent  the
  indentification  of  any  particular  application  or  statements.   The
  foregoing  provisions  of this subdivision prohibiting disclosure of the
  contents of applications or statements shall not apply to physical  data
  relating to the property described therein.
    5.  The  commissioner  of  finance  shall  be  authorized to defer the
  credit, pursuant to this section, for the fiscal year commencing in  the
  calendar  year nineteen hundred ninety-six to the fiscal year commencing
  in  the  calendar  year  nineteen  hundred  ninety-seven.  The  credits,
  pursuant  to  this  section,  for  the  fiscal  years  commencing in the

  calendar  years  nineteen  hundred  ninety-seven  and  nineteen  hundred
  ninety-eight shall not be deferred.
    6.  The  commissioner  of  finance  may  impose,  after  notice and an
  opportunity to be heard, civil penalties on each member of a cooperative
  board of directors of no more than ten thousand dollars for the  willful
  failure  to  credit  fully  any  tax  abatement granted pursuant to this
  section to eligible dwelling units.
    7. The commissioner of finance shall be authorized to promulgate rules
  necessary to effectuate the purposes of this section.
    8.  The  information  contained  in  applications  or  statements   in
  connection  therewith filed with the commissioner of finance pursuant to
  subdivision three, three-a, three-b or three-c of this section shall not
  be subject to disclosure under article six of the public officers law.