§ 435. Approval of tax-free NY areas. 1. The president or chief
executive officer of any state university campus, community college or
city university campus seeking to sponsor a tax-free NY area and have
some of its eligible land specified under subdivision one of section
four hundred thirty-two of this article be designated as a tax-free NY
area must submit a plan to the commissioner that specifies the land or
space the campus or college wants to include, describes the type of
business or businesses that may locate on that land or in that space,
explains how those types of businesses align with or further the
academic mission of the campus or college and how participation by those
types of businesses in the START-UP NY program would have positive
community and economic benefits, and describes the process the campus or
college will follow to select participating businesses. At least thirty
days prior to submitting such plan, the campus or college must provide
the municipality or municipalities in which the proposed tax-free NY
area is located, local economic development entities, the applicable
campus or college faculty senate, union representatives and the campus
student government with a copy of the plan. In addition, if the plan of
the campus or college includes land or space located outside of the
campus boundaries, the campus or college must consult with the
municipality or municipalities in which such land or space is located
prior to including such space or land in its proposed tax-free NY area
and shall give preference to underutilized properties. Before approving
or rejecting the plan submitted by a state university campus, community
college or city university campus, the commissioner shall consult with
the chancellor of the applicable university system or his or her
designee.

2. The president or chief executive officer of any private college or
university or of any state university campus, community college or city
university campus seeking to sponsor a tax-free NY area and have some of
its eligible land specified under subdivision two of section four
hundred thirty-two of this article be designated as a tax-free NY area
must submit a plan to the commissioner that specifies the land or space
the college or university wants to include, describes the type of
business or businesses that may locate on that land or in that space,
explains how those types of businesses align with or further the
academic mission of the college or university and how participation by
those types of businesses in the START-UP NY program would have positive
community and economic benefits, and describes the process the campus or
college will follow to select participating businesses. In addition, if
the plan of the campus or college includes land or space located outside
of the campus boundaries, the campus or college must consult with the
municipality or municipalities in which such land or space is located
prior to including such space or land in its proposed tax-free NY area
and shall notify local economic development entities. The commissioner
shall forward the plan submitted under this subdivision to the START-UP
NY approval board. In evaluating such plans, the board shall examine the
merits of each proposal, including but not limited to, compliance with
the provisions of this article, reasonableness of the economic and
fiscal assumptions contained in the application and in any supporting
documentation and potential of the proposed project to create new jobs,
and, except for proposals for designation of eligible land under
paragraph (c) of subdivision two of section four hundred thirty-two of
this article, shall prioritize for acceptance and inclusion into the
START-UP NY program plans for tax-free NY areas in counties that contain
a city with a population of one hundred thousand or more without a
university center as defined in subdivision seven of section three
hundred fifty of the education law on the effective date of this
article. No preference shall be given based on the time of submission of
the plan, provided that any submission deadlines established by the
board are met. In addition, the board shall give preference to private
colleges or universities that include underutilized properties within
their proposed tax-free NY areas. The board by a majority vote shall
approve or reject each plan forwarded to it by the commissioner.

3. A campus, university or college may amend its approved plan,
provided that the campus, university or college may not violate the
terms of any lease with a business located in the approved tax-free NY
area. In addition, if a business located in a tax-free NY area does not
have a lease with a campus, university or college, and such business is
terminated from the START-UP NY program pursuant to paragraph (b) of
subdivision four of section four hundred thirty-six of this article, and
subsequently does not relocate outside of the tax-free NY area, a
campus, university or college may amend its approved plan to allocate an
amount of vacant land or space equal to the amount of space occupied by
the business that is terminated. The amendment must be approved pursuant
to the procedures and requirements set forth in subdivision one or two
of this section, whichever is applicable.

4. The START-UP NY approval board, by majority vote, shall designate
correctional facilities described in subdivision fourteen of section
four hundred thirty-one of this article, START-UP NY airport facilities
described in subdivision fifteen of section four hundred thirty-one of
this article and up to twenty strategic state assets as tax-free NY
areas. Each shall be affiliated with a state university campus, city
university campus, community college, or private college or university
and such designation shall require the support of the affiliated campus,
college or university. Each strategic state asset and START-UP NY
airport facility, other than a correctional facility, may not exceed a
maximum of two hundred thousand square feet of vacant land or vacant
building space designated as a tax-free NY area. Designation of
strategic state assets, correctional facilities described in subdivision
fourteen of section four hundred thirty-one of this article, and
START-UP NY airport facilities described in subdivision fifteen of
section four hundred thirty-one of this article as tax-free NY areas
shall not count against any square footage limitations in section four
hundred thirty-two of this article.

5. The commissioner shall promulgate regulations to effectuate the
purposes of this section, including, but not limited to, establishing
the process for the plan submissions and approvals of tax-free NY areas
and the eligibility criteria that will be applied in evaluating those
plans.