N.Y. Economic Development Law Section 403
Powers and duties of the commissioner


The commissioner shall promulgate regulations establishing an application process and eligibility criteria set forth in § 401 (Eligibility criteria)section four hundred one of this article which, notwithstanding any provisions to the contrary in the state administrative procedure act, may be adopted on an emergency basis.


When considering an application, the commissioner shall consider factors including, but not limited to, the overall cost and effectiveness of the project, and whether the project is consistent with the intent of the program.


The commissioner shall, in consultation with the department of taxation and finance, develop a certificate of eligibility that shall be issued by the commissioner to participants. Participants must include a copy of the certificate of eligibility with their tax return to receive any tax benefits under Tax Law § 35 (Use of electronic means of communication)section thirty-five of the tax law. Participants must also include a copy of the certificate of eligibility with their application for the real property tax exemption authorized by Real Property Tax Law § 485-P (Economic transformation area exemption)section four hundred eighty-five-p of the real property tax law, if such exemption is available where the property is located. * NB Repealed December 31, 2026

Source: Section 403 — Powers and duties of the commissioner, https://www.­nysenate.­gov/legislation/laws/COM/403 (updated Apr. 23, 2021; accessed Jun. 15, 2024).

Jun. 15, 2024

Last modified:
Apr. 23, 2021

§ 403’s source at nysenate​.gov

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