[Adopted 2-14-1984 by L.L. No. 2-1984]
The purpose of this article is to provide for the reduction
of the percentum of the real property tax exemption provided for in
§ 485-b, Subdivision 2(a), of the Real Property Tax Law
of the State of New York.
This article is enacted pursuant to the provisions of Subdivision
7 of § 485-b of the Real Property Tax Law of the State of
New York.
This article shall hereafter be known and cited as the "Business
Investment Exemption Reduction Law."
As used in this article, unless otherwise expressly stated,
meanings shall be as set forth in § 485-b of the Real Property
Tax Law.
The real property tax exemption percentage as set forth in Subdivision
2(a) of § 485-b of the Real Property Tax Law be and the
same is hereby reduced to 0%.
