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