New York Laws
Title 4 - Tax Abatement for Certain Commercial Properties in a City of One Million or More Persons
499-F - Reporting Requirements; Revocation of Abatements.

(a) the landlord or the tenant receiving abatement pursuant to this
title fails to comply with the requirements of this title or the rules
promulgated hereunder; or
(b) an application, certificate, report or other document submitted by
the applicant contains a false or misleading statement as to a material
fact or omits to state any material fact necessary in order to make the
statement therein not false or misleading, and may declare any applicant
who makes such false or misleading statement or omission to be
ineligible for future abatement pursuant to this title for the same or
other property. In addition, the department of finance shall require
the applicant to pay, with penalty and interest, any abatement received
pursuant to this title as a result of such false or misleading statement
or omission of a material fact.
6. Notwithstanding any other provision of this title, the department
of finance shall deny, terminate or revoke any abatement applied for or
granted pursuant to this title upon a determination that the lease
between the landlord and the tenant does not constitute a bona fide
arm's length lease. In making such determination, the department of
finance may consider, among other factors, the relationship, if any,
between the landlord and the tenant and whether the business terms of
such lease are consistent with the business terms generally found in
leases for comparable space.
7. (a) If any person described in the statement required by paragraph
(b) of subdivision seven of section four hundred ninety-nine-c of this
title or paragraph (b) of this subdivision is finally adjudicated by a
court of competent jurisdiction to be guilty of any charge listed in
such statement, the department of finance shall revoke the abatement
granted pursuant to this title and shall require the payment, with
interest, of any abatement received pursuant to this title.
(b) The applicant shall, on the certificate of continuing eligibility,
state whether any charges alleging violation by the applicant or any
person owning a substantial interest in the eligible building, or any
officer, director or general partner of the applicant or person owning a
substantial interest in the eligible building, or any person for whom
the applicant or person owning a substantial interest in the eligible
building is an officer, director or general partner, of section two
hundred thirty-five of the real property law or any section of article
one hundred fifty of the penal law or any similar arson law of another
jurisdiction, are pending. For purposes of this paragraph, "substantial
interest" shall have the same meaning as set forth in paragraph (c) of
subdivision seven of section four hundred ninety-nine-c of this title.
8. The department of finance shall revoke any abatement granted
pursuant to this title with respect to premises leased to a renewal
tenant if the applicant shall fail to submit evidence acceptable to the
department of finance, within the time specified in subdivision four of
section four hundred ninety-nine-d of this title, that the requirements
of section four hundred ninety-nine-c of this title concerning
expenditures on improvements have been met within the time specified in
such section four hundred ninety-nine-c. In such event, the department
of finance shall require the landlord to pay, with penalty and interest,
any abatement received pursuant to this title with respect to the
premises in question.