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What is NYC AC § 26-1602?

Quick Answer

This section mandates the department to conduct annual audits of at least 20 percent of buildings that have completed construction and are receiving benefits under section 421-a of the real property tax law. The audits assess compliance with rent registration requirements. Applies to building owners receiving tax benefits.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 26-1602 Audits.

AC § 26-1602

The department shall audit no fewer than 20 percent of all buildings that have completed construction and are receiving benefits under section 421-a of the real property tax law annually to determine whether the owners of such buildings are in compliance with all applicable rent registration requirements. (L.L. 2017/194, 10/16/2017, eff. 10/16/2018)

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