2015 New York Laws
GMU - General Municipal
Article 19-A - (General Municipal) BUSINESS IMPROVEMENT DISTRICTS
980-O - Dissolution.

  980-o.  Dissolution.  (a)  Any  district  established  or  extended
  pursuant  to  the  provisions  of  this  article,  where  there  is   no
  indebtedness,  outstanding and unpaid, incurred to accomplish any of the
  purposes of  the  district,  may  be  dissolved  by  local  law  by  the
  legislative body upon its own motion or upon the written petition of (1)
  the  owners  of at least fifty-one percent or more of the total assessed
  valuation of all benefited real property included in the  boundaries  of
  the  district  and  (2)  at  least  fifty-one  percent  of the owners of
  benefited real property within the area included in  the  district.  The
  legislative  body  shall request and consider the recommendations of the
  district management association  concerning  any  proposed  dissolution;
  provided  that  if  the association has not submitted recommendations to
  the legislative body within  sixty  days  after  request  therefor,  the
  legislative  body  may  adopt  any  such  proposed  dissolution  without
  considering such recommendations.   In the  event  of  dissolution,  all
  assets of the district shall revert to the municipality.
(b)  A  certified copy of the order of dissolution shall be filed with
  the state comptroller at Albany, New York.