NY A01367

Reduces the residential square footage requirement for mixed-use properties from 50% to 40% of the building's total square footage to qualify for the residential-commercial urban exemption.

Expands the definition of "commercial purpose or use" to include non-residential lawful uses such as offices, hotels, breweries, distilleries, and entertainment venues that employ or anticipate employing a minimum of five employees at the property.

Requires property owners to submit annual certifications attesting compliance with program requirements, including specifications about commercial use entrances and reasons why commercial spaces may not be actively in use, with failure to certify resulting in revocation of benefits.

Adds grounds for revocation of exemption benefits if the commercial portion has not been in active use and open to the public for three consecutive years, and limits repayment obligations to years of non-compliance or material misstatement.

Provides a 30-day notice requirement and opportunity to cure before revoking benefits, and extends applicability to properties with building permits issued within 180 days of the January 1, 2021 effective date if a certificate of occupancy is obtained within 24 months, excluding COVID-19 pandemic work stoppages.