Section 499-BBB. Real property tax abatement

An eligible building shall
  receive an abatement of real property taxes as provided  in  this  title
  and the rules promulgated hereunder.
    1.  The  amount  of such tax abatement shall be four dollars and fifty
  cents  per  square  foot  of  a  green  roof  pursuant  to  an  approved
  application  for  tax  abatement;  provided, however, that the amount of
  such tax abatement shall not  exceed  the  lesser  of  (a)  one  hundred
  thousand  dollars  or (b) the tax liability for the eligible building in
  the tax year in which the tax abatement is taken.
    2. Such tax abatement shall  commence  on  July  first  following  the
  approval of an application for tax abatement by a designated agency, and
  shall not exceed one year.
    3.  With respect to any eligible building held in the condominium form
  of ownership that receive a tax abatement pursuant to this  title,  such
  tax abatement benefits shall be apportioned among all of the condominium
  tax lots within such eligible building.
    4.  If,  as  a  result of application to the tax commission or a court
  order or action by the department  of  finance,  the  billable  assessed
  value for the fiscal year in which the tax abatement is taken is reduced
  after the assessment roll becomes final, the department of finance shall
  recalculate the abatement so that the abatement granted shall not exceed
  the  annual  tax  liability  as  so  reduced.  The  amount  equal to the
  difference between the abatement originally granted and the abatement as
  so recalculated shall be deducted from any refund otherwise  payable  or
  remission  otherwise  due  as  a  result  of  such reduction in billable
  assessed value.