NY S05088

Changes the designation of the deputy mayor on the temporary commercial incentive area boundary commission from "deputy mayor for economic development and planning" to "a deputy mayor designated by the mayor"

Requires the commission to meet in 2015 (in addition to 2009) and at least once every five years thereafter to determine boundaries of special commercial abatement areas

Extends the deadline for local legislative approval of new area designations to January 1, 2016; if not approved by that date, existing designations remain in effect until December 31, 2015 for purposes of applications for special commercial abatement area benefits

Changes the threshold for halting new applications for special commercial abatement area benefits from "failure to meet for more than five years" to "failure to meet in 2015," with applications postmarked after December 31, 2015 deemed as regular area benefits applications

Takes effect immediately upon enactment