§ 61-05 Initial Certification of Eligibility.
RCNY § 61-05
(a)A business that receives notice pursuant to 19 RCNY § 61-04(c) may apply for initial certification of eligibility. Such application must be on a form prescribed by the commissioner. Such application must include, but not be limited to, information necessary to determine: (1) eligibility to receive a credit against tax pursuant to 19 RCNY § 61-02(a), and (2) the appropriate maximum approved employment shares to include on the initial certification of eligibility.
(b)No initial certification of eligibility shall be issued by the commissioner to an eligible business on or after July 1, 2028 unless such business relocates to such premises not later than 36 months from such preliminary eligibility application recording date.
(c)Each initial certification of eligibility must include the maximum approved employment shares. The maximum approved employment shares for an eligible business shall not exceed 500 employment shares for such eligible business.
(d)The commissioner shall not issue an initial certification of eligibility that would cause the program total to exceed 3,000 maximum approved employment shares. For the purpose of determining whether such maximum program total has been reached, initial certifications of eligibility must be approved by the commissioner in an order based on the preliminary eligibility recording date.
(e)If an eligible business submits an application for an initial certification of eligibility and there are other eligible businesses with earlier preliminary eligibility recording dates that could submit applications for initial certification of eligibility that, if approved, would cause the program total to be exceeded, the commissioner may notify the applicant business that its application is being held pending review of such other eligible businesses’ applications. (Added City Record 11/20/2025, eff. 12/20/2025)
