New York Laws
Article 19-A - Business Improvement Districts
980-G - Review by the State Comptroller.

(b) Within twenty days after the adoption of a local law by a
legislative body pursuant to section nine hundred eighty-f or
subdivision (c) of section nine hundred eighty-i of this article, the
chief executive officer, or, except in a municipality having a
population of one million or more, other such officer of the
municipality as the legislative body shall determine, shall forward the
following information to the state comptroller at Albany, New York:
(1) an itemized statement of the then outstanding indebtedness of the
municipality for all purposes, as evidenced by bonds, bond anticipation
notes, capital notes, deferred payment notes and budget notes; the
amount of budgetary appropriations for the payment of any outstanding
indebtedness, whether or not appropriations have been realized as cash;
the amount of indebtedness proposed to be contracted for the
improvement, and the amounts, purposes and probable date of issuance of
any bonds, bond anticipation notes, capital notes, deferred payments
notes and budget notes which the municipality has authorized to be
issued but which in fact have not been issued to date;
(2) a statement of the total assessed valuation of the taxable real
property situated in the proposed district or extension of a district,
as shown on the latest completed and four preceding assessment rolls of
the municipality and of the amount of municipal real property taxes
levied against such property in the preceding fiscal year;
(3) a statement of the average full valuation of the taxable real
property of the municipality determined in accordance with the
provisions of paragraph seven-a of section 2.00 of the local finance
law; and
(4) a statement, the form of which shall be determined by the
comptroller, attesting that the provisions of this article have been
met, signed and verified by the chief executive officer.
(c) The state comptroller shall then review the information submitted
pursuant to paragraphs one, two and three of subdivision (b) above to
determine that the tax and debt limitations provided in section nine
hundred eighty-k of this article will not be exceeded by the
establishment or extension of the district.
(d) The state comptroller shall notify the municipality of his or her
determination within sixty days of the receipt of the items specified in
subdivision (b) of this section. Unless the state comptroller determines
that the tax and debt limitations provided in section nine hundred
eighty-k of this article will be exceeded by the establishment or
extension of the district or that the statement required by paragraph
four of subdivision (b) of this section does not comply with the
provisions of such paragraph, the municipality may proceed with the
establishment or extension of the district upon receipt of the notice
from the state comptroller of his or her determination.
(e) Upon the municipality's compliance with any other requirements
established by law, the local law enacted pursuant to section nine
hundred eighty-f of this article shall become effective.