§ 489-eeeee. Reporting requirement; termination of benefits. 1. Upon
approval of the department of buildings of the plans submitted in
connection with the building permit and any amendments to such plans,
the recipient shall file with the department of finance a narrative
description of such approved plans describing the residential
construction work or combination of residential construction work and
commercial construction work for which the recipient seeks benefits
pursuant to this title.

2. For the duration of the benefit period, the recipient shall file
annually with the department of finance, on or before the taxable status
date, a certificate of continuing use. Such certificate of continuing
use shall be on a form prescribed by the department of finance. The
department of finance shall have the authority to require such
information as it deems necessary to enable it to determine whether the
recipient has established continuing eligibility for benefits. The
department of finance shall have the authority to terminate benefits
pursuant to this title upon failure of the recipient to file such
certificate by the taxable status date. The burden of proof shall be on
the recipient to establish continuing eligibility for benefits and the
department of finance shall have the authority to require that
statements made in such certificate shall be made under oath.

3. A recipient shall file an amendment to the latest certificate of
continuing use prior to (a) converting square footage within property
which is the subject of a certificate of eligibility from the
residential and commercial uses described in such certificate of
continuing use where such conversion results in twenty-five per centum
or less of the aggregate floor area being used or held out for use as
commercial, community facility or accessory use space; or (b) converting
any portion of property which is the subject of a certificate of
eligibility to use for any restricted activity.

4. Not later than eighteen months after the effective date of a
certificate of eligibility, with an effective date of July first,
nineteen hundred ninety-five or after, the recipient shall present
evidence to the department of finance demonstrating that the recipient
has made one-half the minimum required expenditure. Not later than
thirty-six months after the effective date of such certificate, such
recipient shall present evidence to such department demonstrating that
the recipient has made the minimum required expenditure. Such evidence
shall be presented in the form and manner prescribed by such department.
The burden of proof shall be on the recipient to show by clear and
convincing evidence that the required expenditures have been made.