NY S06591

Requires the entity administering the tax abatement program under section 467-b of the real property tax law to develop a system ensuring timely notice to participants who become newly eligible to reapply for the program based on changed eligibility criteria.

Mandates that participants must receive notice of the reapplication requirement during their first reapplication period after meeting new eligibility criteria and for every subsequent reapplication period.

Prohibits administering entities from considering any eligibility criteria not contained in section 467-b when approving or denying tax abatement applications.

Takes effect immediately, with the amendments expiring and reverting in accordance with the existing expiration date of section 467-b.