S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    806
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  M.  of  A.  R. CARROLL  -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation  to  providing  a
   green infrastructure tax abatement for certain properties in a city of
   one million or more

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Article 4 of the real property tax law is amended by adding
 a new title 7 to read as follows:
                                  TITLE 7
  GREEN INFRASTRUCTURE TAX ABATEMENT FOR CERTAIN PROPERTIES IN A CITY OF
                        ONE MILLION OR MORE PERSONS
 SECTION 499-AAAAAA. DEFINITIONS.
         499-BBBBBB. REAL PROPERTY TAX ABATEMENT.
         499-CCCCCC. APPLICATION FOR TAX ABATEMENT.
         499-DDDDDD. CONTINUING REQUIREMENTS.
         499-EEEEEE. REVOCATION OF TAX ABATEMENT.
         499-FFFFFF. ENFORCEMENT AND ADMINISTRATION.
         499-GGGGGG. TAX LIEN AND INTEREST.
   § 499-AAAAAA. DEFINITIONS. WHEN USED  IN  THIS  TITLE,  THE  FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1.  "APPLICANT"  SHALL  MEAN  (A) WITH RESPECT TO AN ELIGIBLE BUILDING
 HELD IN THE COOPERATIVE OR CONDOMINIUM FORM OF OWNERSHIP, THE  BOARD  OF
 MANAGERS  OF  A  CONDOMINIUM  OR THE BOARD OF DIRECTORS OF A COOPERATIVE
 APARTMENT CORPORATION, OR (B) WITH RESPECT TO ANY OTHER ELIGIBLE  BUILD-
 ING, THE OWNER OF SUCH BUILDING.
   2.  "APPLICATION  FOR  TAX  ABATEMENT" SHALL MEAN AN APPLICATION FOR A
 GREEN INFRASTRUCTURE TAX ABATEMENT  PURSUANT  TO  SECTION  FOUR  HUNDRED
 NINETY-NINE-CCCCCC OF THIS TITLE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00390-01-5
              

 A. 806                              2
 
   3. "ARCHITECT" SHALL MEAN A PERSON LICENSED AND REGISTERED TO PRACTICE
 THE PROFESSION OF ARCHITECTURE UNDER THE EDUCATION LAW.
   4.  "COMPLIANCE  PERIOD" SHALL MEAN THE TAX YEAR IN WHICH A TAX ABATE-
 MENT COMMENCES AND THE THREE TAX YEARS IMMEDIATELY THEREAFTER.
   5. "DEPARTMENT OF FINANCE" SHALL MEAN THE DEPARTMENT OF FINANCE  OF  A
 CITY HAVING A POPULATION OF ONE MILLION OR MORE PERSONS.
   6.  "DESIGNATED AGENCY" SHALL MEAN ONE OR MORE AGENCIES OR DEPARTMENTS
 OF A CITY HAVING A POPULATION OF ONE MILLION OR MORE  PERSONS  THAT  ARE
 DESIGNATED  BY  THE MAYOR OF SUCH CITY TO EXERCISE THE FUNCTIONS, POWERS
 AND DUTIES OF A DESIGNATED AGENCY PURSUANT TO THIS TITLE.
   7. "ELIGIBLE BUILDING" SHALL MEAN A CLASS ONE OR CLASS TWO PROPERTY AS
 DEFINED IN SUBDIVISION ONE OF SECTION EIGHTEEN HUNDRED TWO OF THIS CHAP-
 TER, LOCATED WITHIN A CITY HAVING A POPULATION OF ONE  MILLION  OR  MORE
 PERSONS.  NO  BUILDING SHALL BE ELIGIBLE FOR MORE THAN ONE TAX ABATEMENT
 PURSUANT TO THIS TITLE PRIOR TO JANUARY FIRST, TWO THOUSAND TWENTY-SIX.
   8. "ELIGIBLE GREEN INFRASTRUCTURE EXPENDITURES" SHALL MEAN  REASONABLE
 EXPENDITURES  FOR  MATERIALS,  LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE
 PREPARATION, ASSEMBLY AND ORIGINAL INSTALLATION, ARCHITECTURAL AND ENGI-
 NEERING  SERVICES,  AND  DESIGNS  AND  PLANS  DIRECTLY  RELATED  TO  THE
 CONSTRUCTION OR INSTALLATION OF A GREEN INFRASTRUCTURE PROJECT INSTALLED
 IN  CONNECTION  WITH  AN  ELIGIBLE  BUILDING. SUCH ELIGIBLE EXPENDITURES
 SHALL NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES, OR ANY EXPENDITURES
 INCURRED USING A FEDERAL, STATE OR LOCAL GRANT.
   9. "ENGINEER" SHALL MEAN A PERSON LICENSED AND REGISTERED TO  PRACTICE
 THE PROFESSION OF ENGINEERING UNDER THE EDUCATION LAW.
   10.  "GREEN  INFRASTRUCTURE  PROJECT" SHALL MEAN ANY PROJECT THAT USES
 PLANT OR SOIL SYSTEMS, PERMEABLE PAVEMENT OR OTHER PERMEABLE SURFACES OR
 SUBSTRATES, STORMWATER HARVEST  AND  REUSE,  OR  LANDSCAPING  TO  STORE,
 INFILTRATE,  OR  EVAPOTRANSPIRATE  STORMWATER  AND REDUCE FLOWS TO SEWER
 SYSTEMS OR TO SURFACE WATERS. GREEN INFRASTRUCTURE  SHALL  INCLUDE,  BUT
 SHALL  NOT  BE  LIMITED  TO,  RAIN GARDENS, PLANTER BOXES, AND PERMEABLE
 PAVEMENTS. AS USED IN THIS SUBDIVISION:
   (A) "RAIN GARDEN" SHALL MEAN A SHALLOW VEGETATED BASIN  THAT  COLLECTS
 AND ABSORBS STORMWATER RUNOFF.
   (B) "PLANTER BOX" SHALL MEAN SMALL RAIN GARDENS WITH VERTICAL WALLS.
   (C) "PERMEABLE PAVEMENT" SHALL MEAN HARD SURFACES THAT PERMIT WATER TO
 SEEP INTO THE GROUND WHERE IT FALLS.
   §  499-BBBBBB. 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. IF THE GREEN INFRASTRUCTURE
 PROJECT IS COMPLETED AND OPERATIONAL ON OR AFTER THE EFFECTIVE  DATE  OF
 THIS  TITLE,  FOR  EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX ABATEMENT
 SHALL BE THE LESSER OF (I) SEVEN AND ONE-HALF PERCENT OF ELIGIBLE  GREEN
 INFRASTRUCTURE  EXPENDITURES;  (II)  THE AMOUNT OF TAXES PAYABLE IN SUCH
 TAX YEAR; OR (III) TWENTY THOUSAND DOLLARS.
   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 BE CARRIED OVER TO ANY SUBSEQUENT TAX YEAR.
   3.  WITH RESPECT TO ANY ELIGIBLE BUILDING HELD IN THE CONDOMINIUM FORM
 OF OWNERSHIP THAT RECEIVES 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 ANY FISCAL YEAR IN WHICH THE TAX ABATEMENT IS TAKEN IS REDUCED
 AFTER THE ASSESSMENT ROLL BECOMES FINAL, THE DEPARTMENT OF FINANCE SHALL
 A. 806                              3
 
 RECALCULATE THE ABATEMENT SO THAT THE ABATEMENT GRANTED SHALL NOT EXCEED
 THE  ANNUAL TAX LIABILITY AS SO REDUCED. THE AMOUNT EQUAL TO THE DIFFER-
 ENCE 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.
   § 499-CCCCCC. APPLICATION FOR TAX ABATEMENT. 1. TO OBTAIN A TAX ABATE-
 MENT  PURSUANT TO THIS TITLE, AN APPLICANT SHALL FILE AN APPLICATION FOR
 TAX ABATEMENT, WHICH MAY BE FILED ON OR AFTER JANUARY FIRST,  TWO  THOU-
 SAND TWENTY-SIX.
   2.  SUCH  APPLICATION SHALL BE FILED WITH A DESIGNATED AGENCY NO LATER
 THAN THE MARCH FIFTEENTH BEFORE  THE  FIRST  TAX  YEAR,  BEGINNING  JULY
 FIRST, FOR WHICH THE TAX ABATEMENT IS SOUGHT.
   3. (A) SUCH APPLICATION SHALL CONTAIN THE FOLLOWING:
   (I)  THE  NAME  AND  ADDRESS  OF THE APPLICANT AND THE LOCATION OF THE
 GREEN INFRASTRUCTURE PROJECT;
   (II) PROOF THAT THE APPLICANT RECEIVED  ALL  REQUIRED  CERTIFICATIONS,
 PERMITS  AND  OTHER  APPROVALS  TO  CONSTRUCT  THE  GREEN INFRASTRUCTURE
 PROJECT;
   (III) CERTIFICATIONS IN A FORM PRESCRIBED BY A DESIGNATED AGENCY, FROM
 AN ARCHITECT, ENGINEER OR OTHER CERTIFIED OR LICENSED PROFESSIONAL  WHOM
 A  DESIGNATED AGENCY DESIGNATES BY RULE, THAT (1) A GREEN INFRASTRUCTURE
 PROJECT HAS BEEN PLACED IN SERVICE IN CONNECTION WITH AN ELIGIBLE BUILD-
 ING IN ACCORDANCE WITH THIS TITLE, THE RULES PROMULGATED HEREUNDER,  AND
 LOCAL  CONSTRUCTION  AND FIRE CODES, AND (2) IF THE GREEN INFRASTRUCTURE
 PROJECT HAS BEEN PLACED ON THE ROOF OF A BUILDING  OR  OTHER  STRUCTURE,
 THAT  A  STRUCTURAL  ANALYSIS  HAS BEEN PERFORMED ESTABLISHING THAT SUCH
 BUILDING OR STRUCTURE CAN SUSTAIN THE LOAD OF SUCH PROJECT;
   (IV) AN AGREEMENT TO PERMIT A DESIGNATED AGENCY  OR  ITS  DESIGNEE  TO
 INSPECT THE GREEN INFRASTRUCTURE PROJECT UPON REASONABLE NOTICE; AND
   (V)  ANY  OTHER INFORMATION OR CERTIFICATIONS REQUIRED BY A DESIGNATED
 AGENCY PURSUANT TO THIS TITLE AND THE RULES PROMULGATED HEREUNDER.
   (B) ALL CERTIFICATIONS REQUIRED BY THIS TITLE OR THE RULES PROMULGATED
 HEREUNDER SHALL SET FORTH THE SPECIFIC FINDINGS UPON WHICH  THE  CERTIF-
 ICATION  IS  BASED, AND SHALL INCLUDE INFORMATION SUFFICIENT TO IDENTIFY
 THE ELIGIBLE BUILDING,  THE  CERTIFYING  ENGINEER,  ARCHITECT  OR  OTHER
 PROFESSIONAL,  AND  SUCH  OTHER  INFORMATION  AS  MAY BE PRESCRIBED BY A
 DESIGNATED AGENCY.
   4. AN APPLICATION FOR TAX ABATEMENT SHALL BE IN ANY FORMAT  PRESCRIBED
 BY A DESIGNATED AGENCY, INCLUDING ELECTRONIC FORM.
   5.  AN APPLICATION FOR TAX ABATEMENT SHALL BE APPROVED BY A DESIGNATED
 AGENCY UPON DETERMINING THAT THE APPLICANT HAS SUBMITTED PROOF  ACCEPTA-
 BLE  TO  SUCH AGENCY THAT THE REQUIREMENTS FOR OBTAINING A TAX ABATEMENT
 PURSUANT TO THIS TITLE AND THE RULES  PROMULGATED  HEREUNDER  HAVE  BEEN
 MET.  THE BURDEN OF PROOF SHALL BE ON THE APPLICANT TO SHOW BY CLEAR AND
 CONVINCING  EVIDENCE  THAT THE REQUIREMENTS FOR GRANTING A TAX ABATEMENT
 HAVE BEEN SATISFIED.
   6. UPON NOTIFICATION FROM A DESIGNATED AGENCY THAT AN APPLICATION  FOR
 TAX  ABATEMENT  HAS BEEN APPROVED, THE DEPARTMENT OF FINANCE SHALL APPLY
 THE TAX ABATEMENT, PROVIDED THERE ARE NO OUTSTANDING REAL ESTATE  TAXES,
 WATER  AND  SEWER  CHARGES, PAYMENTS IN LIEU OF TAXES OR OTHER MUNICIPAL
 CHARGES WITH RESPECT TO THE ELIGIBLE BUILDING.
   § 499-DDDDDD. CONTINUING REQUIREMENTS.  THE  TAX  ABATEMENT  SHALL  BE
 CONDITIONED UPON:
   1.  CONTINUING COMPLIANCE DURING THE COMPLIANCE PERIOD WITH ALL APPLI-
 CABLE  PROVISIONS  OF  LAW,  INCLUDING  WITHOUT  LIMITATION  THE   LOCAL
 A. 806                              4
 
 CONSTRUCTION  AND  FIRE  CODES,  MAINTAINING  THE  GREEN  INFRASTRUCTURE
 PROJECT IN SUCH A MANNER THAT IT CONTINUOUSLY CONSTITUTES  SUCH  PROJECT
 WITHIN  THE  MEANING  OF THIS TITLE AND THE RULES PROMULGATED HEREUNDER,
 AND  PERMITTING  A  DESIGNATED  AGENCY  OR  ITS  DESIGNEE TO INSPECT THE
 PROJECT AND ANY RELATED STRUCTURES AND PROJECT UPON  REASONABLE  NOTICE;
 AND
   2.  REAL  ESTATE  TAXES,  WATER AND SEWER CHARGES, PAYMENTS IN LIEU OF
 TAXES OR OTHER MUNICIPAL CHARGES WITH RESPECT TO  AN  ELIGIBLE  BUILDING
 NOT  HAVING BEEN DUE AND OWING DURING THE COMPLIANCE PERIOD FOR A PERIOD
 OF SIX MONTHS OR MORE.
   § 499-EEEEEE. REVOCATION  OF  TAX  ABATEMENT.  1.  THE  DEPARTMENT  OF
 FINANCE  SHALL  REVOKE,  IN  WHOLE OR IN PART, ANY TAX ABATEMENT GRANTED
 PURSUANT TO THIS TITLE WHENEVER A DESIGNATED AGENCY HAS  DETERMINED  AND
 NOTIFIED THE DEPARTMENT OF FINANCE THAT:
   (A) AN APPLICANT HAS FAILED TO COMPLY WITH A REQUIREMENT OF THIS TITLE
 OR  ANY  RULE  PROMULGATED  HEREUNDER  AT ANY TIME DURING THE COMPLIANCE
 PERIOD, INCLUDING WITHOUT LIMITATION ANY OF THE CONTINUING  REQUIREMENTS
 SET  FORTH IN SUBDIVISION ONE OF SECTION FOUR HUNDRED NINETY-NINE-DDDDDD
 OF THIS TITLE;
   (B) AN ELIGIBLE BUILDING HAS NOT BEEN IN COMPLIANCE AT ANY TIME DURING
 THE COMPLIANCE PERIOD WITH A REQUIREMENT  OF  THIS  TITLE  OR  ANY  RULE
 PROMULGATED HEREUNDER;
   (C)  THE  GREEN  INFRASTRUCTURE  PROJECT FOR WHICH A TAX ABATEMENT WAS
 GRANTED HAS AT ANY TIME DURING THE COMPLIANCE PERIOD FAILED TO MEET  ANY
 REQUIREMENT  FOR SUCH PROJECT PURSUANT TO THIS TITLE OR ANY RULE PROMUL-
 GATED HEREUNDER;
   (D) THE GREEN INFRASTRUCTURE PROJECT  HAS  BECOME  A  FIRE  OR  SAFETY
 HAZARD AT ANY TIME DURING THE COMPLIANCE PERIOD; OR
   (E)  AN APPLICATION, CERTIFICATION, REPORT OR OTHER DOCUMENT SUBMITTED
 BY THE APPLICANT CONTAINS A FALSE OR MISLEADING STATEMENT AS TO A  MATE-
 RIAL FACT OR OMITS TO STATE ANY MATERIAL FACT NECESSARY IN ORDER TO MAKE
 THE STATEMENT THEREIN NOT FALSE OR MISLEADING.
   2.  THE DEPARTMENT OF FINANCE MAY REVOKE, IN WHOLE OR IN PART, ANY TAX
 ABATEMENT GRANTED PURSUANT TO THIS TITLE WHENEVER IT HAS DETERMINED THAT
 AN APPLICANT HAS FAILED TO COMPLY WITH THE  CONTINUING  REQUIREMENT  SET
 FORTH  IN  SUBDIVISION TWO OF SECTION FOUR HUNDRED NINETY-NINE-DDDDDD OF
 THIS TITLE.
   3. WHERE IT HAS BEEN DETERMINED BY A DESIGNATED AGENCY,  AFTER  NOTICE
 AND  AN  OPPORTUNITY TO BE HEARD, THAT ANY OF THE PROVISIONS OF SUBDIVI-
 SION ONE OF THIS SECTION HAVE NOT BEEN COMPLIED  WITH,  SUCH  DESIGNATED
 AGENCY SHALL SO NOTIFY THE DEPARTMENT OF FINANCE NO LATER THAN THE NINE-
 TIETH DAY AFTER THE LAST DAY OF THE COMPLIANCE PERIOD.
   4.  AN APPLICANT SHALL PAY, WITH INTEREST, SUCH PART OF ANY TAX ABATE-
 MENT RECEIVED PURSUANT TO THIS TITLE THAT REPRESENTS THE PERIOD OF  NON-
 COMPLIANCE  AS  DETERMINED BY THE DESIGNATED AGENCY OR THE DEPARTMENT OF
 FINANCE, AS THE CASE MAY  BE.  IN  ADDITION,  A  DESIGNATED  AGENCY  MAY
 DECLARE  ANY  APPLICANT  INELIGIBLE FOR FUTURE TAX ABATEMENT PURSUANT TO
 THIS TITLE IF ANY APPLICATION, CERTIFICATION, 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.
   §  499-FFFFFF.  ENFORCEMENT  AND  ADMINISTRATION. 1. THE DEPARTMENT OF
 FINANCE SHALL HAVE, IN ADDITION  TO  ANY  OTHER  FUNCTIONS,  POWERS  AND
 DUTIES  THAT  HAVE  BEEN OR MAY BE CONFERRED ON IT BY LAW, THE FOLLOWING
 FUNCTIONS, POWERS AND DUTIES TO BE EXERCISED  IN  ACCORDANCE  WITH  THIS
 TITLE:
 A. 806                              5

   (A) TO APPLY A TAX ABATEMENT;
   (B) TO REVOKE ALL OR PART OF ANY SUCH TAX ABATEMENT;
   (C)  TO  MAKE  AND  PROMULGATE RULES TO CARRY OUT THE PURPOSES OF THIS
 TITLE; AND
   (D) ANY OTHER FUNCTION, POWER OR  DUTY  NECESSARILY  IMPLIED  BY  THIS
 TITLE.
   2. A DESIGNATED AGENCY SHALL HAVE, IN ADDITION TO ANY OTHER FUNCTIONS,
 POWERS  AND  DUTIES THAT HAVE BEEN OR MAY BE CONFERRED ON IT BY LAW, THE
 FOLLOWING FUNCTIONS, POWERS AND DUTIES TO  BE  EXERCISED  IN  ACCORDANCE
 WITH THIS TITLE:
   (A)  TO  RECEIVE, REVIEW, APPROVE AND DENY APPLICATIONS FOR TAX ABATE-
 MENT;
   (B) TO INSPECT GREEN INFRASTRUCTURE PROJECTS;
   (C) TO ESTABLISH PERMIT OR  CERTIFICATION  REQUIREMENTS  TO  DETERMINE
 WHEN  THE  GREEN INFRASTRUCTURE PROJECT HAS BEEN PLACED IN SERVICE, SUCH
 AS CERTIFICATION  BY  AN  ARCHITECT,  ENGINEER  OR  OTHER  CERTIFIED  OR
 LICENSED PROFESSIONAL WHOM A DESIGNATED AGENCY DESIGNATES BY RULE;
   (D) TO ESTABLISH GUIDANCE AND PROCEDURES FOR DETERMINING OR CERTIFYING
 ELIGIBLE GREEN INFRASTRUCTURE PROJECT EXPENDITURES;
   (E)  TO PRESCRIBE FORMS AND MAKE AND PROMULGATE RULES TO CARRY OUT THE
 PURPOSES OF THIS TITLE;
   (F) TO MAKE THE DETERMINATIONS PROVIDED FOR IN SECTIONS  FOUR  HUNDRED
 NINETY-NINE-CCCCCC AND FOUR HUNDRED NINETY-NINE-EEEEEE OF THIS TITLE AND
 TO NOTIFY THE DEPARTMENT OF FINANCE OF SUCH DETERMINATIONS; AND
   (G)  ANY  OTHER  FUNCTION,  POWER  OR DUTY NECESSARILY IMPLIED BY THIS
 TITLE.
   3. IF A DESIGNATED AGENCY DETERMINES THAT AN ARCHITECT OR ENGINEER  OR
 OTHER CERTIFIED OR LICENSED PROFESSIONAL WHOM A DESIGNATED AGENCY DESIG-
 NATES  BY RULE, IN MAKING ANY CERTIFICATION UNDER THIS TITLE OR ANY RULE
 PROMULGATED HEREUNDER, ENGAGED IN  PROFESSIONAL  MISCONDUCT,  THEN  SUCH
 DEPARTMENT SHALL SO INFORM THE EDUCATION DEPARTMENT OR OTHER APPROPRIATE
 CERTIFYING OR LICENSING AUTHORITY.
   4.  A  DESIGNATED  AGENCY  MAY  PROVIDE  FOR REASONABLE ADMINISTRATIVE
 CHARGES OR FEES NECESSARY TO DEFRAY EXPENSES OF  ADMINISTERING  THE  TAX
 ABATEMENT PROGRAM ESTABLISHED BY THIS TITLE.
   5.  A  DESIGNATED AGENCY AND THE DEPARTMENT OF FINANCE SHALL ESTABLISH
 PROCEDURES THAT ARE NECESSARY OR APPROPRIATE FOR (A) THE TIMELY  NOTIFI-
 CATION  TO  THE  DEPARTMENT  OF  FINANCE  BY  A  DESIGNATED AGENCY OF AN
 APPROVAL OF AN APPLICATION FOR TAX ABATEMENT  OR  OF  ANY  NONCOMPLIANCE
 PURSUANT  TO  SECTION  FOUR HUNDRED NINETY-NINE-EEEEEE OF THIS TITLE AND
 (B) ANY OTHER INTERAGENCY COORDINATION TO  FACILITATE  THE  PURPOSES  OF
 THIS TITLE.
   §  499-GGGGGG.  TAX  LIEN  AND  INTEREST.  ALL  TAXES,  WITH INTEREST,
 REQUIRED TO BE PAID RETROACTIVELY PURSUANT TO THIS TITLE  SHALL  CONSTI-
 TUTE  A TAX LIEN AS OF THE DATE IT IS DETERMINED SUCH TAXES AND INTEREST
 ARE OWED. ALL INTEREST SHALL BE CALCULATED FROM THE DATE THE TAXES WOULD
 HAVE BEEN DUE BUT FOR THE TAX ABATEMENT GRANTED PURSUANT TO  THIS  TITLE
 AT  THE  APPLICABLE RATE OR RATES OF INTEREST IMPOSED GENERALLY FOR NON-
 PAYMENT OF REAL PROPERTY TAX WITH RESPECT TO THE ELIGIBLE  BUILDING  FOR
 THE PERIOD IN QUESTION.
   § 2. This act shall take effect immediately.