NY S07343

Extends the construction completion deadline by 27 months for building projects where the original five-year completion period would have ended between March 7, 2020 and June 25, 2021

The 27-month extension comprises 15 months covering the state disaster emergency period (declared by executive order) plus an additional 12 months for post-emergency construction completion

Requires abatement calculations to begin in the first tax year after the sooner of: (A) actual construction completion, or (B) four years from the initial building permit issuance date

Allows property owners to claim refunds for abatement amounts if the abatement start date occurred before the current tax year