The purpose of this article is to provide for
the reduction of the per centum of the real property tax exemption
provided for in § 485-b (Chapter 278 of the Laws of 1976),
Subdivision 2(a), of the Real Property Tax Law.
The real property tax exemption percentage as
set forth in Subdivision 2(a) of § 485-b (Chapter 278 of
the Laws of 1976) of the Real Property Tax Law be and the same and,
pursuant to Subdivision 7 thereof, is hereby reduced to 0%.