Section 433. Service enhancement plans

1.  Every  railroad  seeking  to
  participate in the program shall  annually  by  the  first  of  February
  submit  a  list of potential service enhancement program elements to the
  department. The department  shall  review  these  program  elements  for
  consistency with the legislative intent and program objectives stated in
  sections four hundred thirty and four hundred thirty-one of this article
  and shall provide its comments to each railroad by the first of March of
  each year.
    2.  (a)  Every  railroad  seeking  to participate in the program shall
  annually by the first of April of each year submit to the  department  a
  plan which shall:
    (i) describe the nature of the railroad's intended service enhancement
  for  the  current  calendar  year  as  appropriate  to railroad size and
  railroad ceiling exemption or economic factor;
    (ii) describe the level of tax abatement  as  computed  by  the  state
  board  of  real  property services pursuant to either subdivision (c) of
  section four hundred eighty-nine-j or subdivision (c)  of  section  four
  hundred eighty-nine-hh of the real property tax law;
    (iii) present the railroad's statement of goals, where possible;
    (iv)  provide  detail  on  the railroad's proposed service enhancement
  plan;
    (v) present  a  general  outline  of  multiple  year  projects  to  be
  undertaken during the term of the program, as appropriate; and
    (vi) note any proposed changes to the previous year's plan.
    (b)  Other  railroads  with  exemption  factors  equal  to eighty-five
  percent may state to what general purposes  they  intend  to  apply  the
  additional  tax abatement in lieu of the provisions of subdivision three
  of this section.
    3. The filing of such plan, containing  such  information  as  may  be
  required,  shall  constitute  participation  in  the service enhancement
  program.
    4. Immediately upon receipt of such plan, the department shall certify
  to the state board  of  real  property  services  participation  in  the
  service enhancement program by the railroad submitting such plan.