§ 499-aa. Definitions. When used in this title, the following terms\nshall mean or include:\n 1. "Abatement base." The lesser of (i) two dollars and fifty cents of\nthe tax liability per square foot or (ii) fifty per centum of the tax\nliability per square foot; provided, however, that with respect to a\nlease commencing on or after April first, nineteen hundred ninety-seven,\nthe abatement base shall equal the tax liability per square foot subject\nto a maximum of two dollars and fifty cents per square foot.\n 2. "Abatement zone." (a) Any area of a city having a population of one\nmillion or more, provided that in the city of New York the abatement\nzone shall be any district that is zoned C4, C5 or C6 in accordance with\nthe zoning resolution of such city in the borough of Manhattan north of\nthe center line of 96th Street or in the boroughs of the Bronx,\nBrooklyn, Queens or Staten Island.\n (b) In addition to the abatement zone set forth in paragraph (a) of\nthis subdivision, in the city of New York the abatement zone shall be\nany district that is zoned C4, C5, C6, M1, M2 or M3 in accordance with\nthe zoning resolution of such city in any area of such city except the\narea lying south of the center line of 96th Street in the borough of\nManhattan.\n (c) Notwithstanding the provisions of paragraph (b) of this\nsubdivision, the abatement zone shall also include the special garment\ncenter district as defined by chapter 1 of article XII of the zoning\nresolution of the city of New York.\n (d) Any tax lot that is partly located inside an abatement zone shall\nbe deemed to be entirely located inside such zone.\n 3. "Aggregate floor area." The sum of the gross areas of the several\nfloors of a building, measured from the exterior faces of exterior walls\nor from the center lines of walls separating two buildings.\n 4. "Applicant." The landlord and the tenant.\n 5. "Benefit period." The period commencing with the first day of the\nmonth immediately following the rent commencement date and terminating\nno later than sixty months thereafter, provided, however, that with\nrespect to a lease commencing on or after April first, nineteen hundred\nninety-seven with an initial lease term of less than five years, but not\nless than three years, the period commencing with the first day of the\nmonth immediately following the rent commencement date and terminating\nno later than thirty-six months thereafter, and provided, further,\nhowever, that with respect to a lease commencing on or after July first,\ntwo thousand five for eligible premises defined in subparagraph (ii) of\nparagraph (b) or paragraph (c) of subdivision ten of this section with\nan initial lease term of not less than three years, the period\ncommencing with the first day of the month immediately following the\nrent commencement date and terminating no later than one hundred twenty\nmonths thereafter. Notwithstanding the foregoing sentence, a benefit\nperiod shall expire no later than March thirty-first, two thousand\nseven, provided, however, that with respect to a lease commencing on or\nafter July first, two thousand for eligible premises defined in\nsubparagraph (i) of paragraph (b) of subdivision ten of this section, a\nbenefit period shall expire no later than June thirtieth, two thousand\nsixteen, provided, further, however that with respect to a lease\ncommencing on or after July first, two thousand five for eligible\npremises defined in subparagraph (ii) of paragraph (b) or paragraph (c)\nof subdivision ten of this section, a benefit period shall expire no\nlater than June thirtieth, two thousand twenty.\n 6. "Billable assessed value." The lesser of the taxable transitional\nor the taxable actual assessed value of the eligible building and the\nland on which the eligible building is located for the fiscal year in\nwhich the benefit period commences, as computed pursuant to subdivision\nthree of section one thousand eight hundred five of this chapter.\n 7
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