2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 1 - (400 - 418) PUBLIC PROPERTY
412-A - Industrial development agencies.

 412-a. Industrial development agencies. 1. Real property owned by or
  under the jurisdiction, supervision or control of industrial development
  agencies  enumerated  in  the general municipal law shall be entitled to
  such exemption as may be provided therein.
2. Application for such exemption must be made by the agency on a form
  prescribed by the commissioner and shall be filed in the office  of  the
  assessor  on  or before the appropriate taxable status date for the year
  in which the exemption is first claimed. At such time,  copies  of  such
  application  shall  be mailed or delivered to the chief elected official
  of each school district, city, county, town and village within which the
  project is located. Such application shall include  an  extract  of  the
  terms  of any agreement relating to the project. No application shall be
  required in subsequent years unless  the  terms  of  the  agreement  are
  modified or changed.