§ 46-05 Change in Eligibility.
RCNY § 46-05
(a)Notification to Commissioner. The owner or owners of the property shall notify the Commissioner in the event that (1) a property that was granted an exclusion from the surcharge based on its use as a primary residence of the owner or owners or the parent or child of the owner or owners ceases to be used as the primary residence of the owner or owners or the parent or child of the owner or owners, or (2) a property that was granted an exclusion based on the fact that it does not produce rental income begins to produce rental income.
(b)Effect of mid-year change in eligibility.
(1)Mid-year change in use of property excluded from surcharge. Where a determination that a property was eligible for exclusion was based on the status of the property prior to the commencement of a fiscal year for which exclusion was granted, then in the event that a cessation of use for an excluded purpose occurs prior to the end of such fiscal year, the property will remain excluded from the surcharge for the remainder of such fiscal year.
(2)Mid-year change in use of property subject to surcharge. In the event that a property that is subject to the surcharge for a fiscal year based on the status of the property prior to the commencement of such fiscal year first meets the requirements for eligibility for exclusion based on a change in use prior to the end of such fiscal year, the property will remain subject to the surcharge for the remainder of such fiscal year, and the property will become eligible for exclusion for the next succeeding fiscal year, subject to the certification requirements of these rules.
