§ 980-a. Tax credits for contributions to certain funds. 1. (a) A\nmunicipal corporation that has established a fund pursuant to\nsubdivision forty-four of section sixteen hundred four of the education\nlaw, subdivision twelve-b of section seventeen hundred nine of the\neducation law, subdivision fifty-four of section twenty-five hundred\nninety-h of the education law, or section six-t or six-u of the general\nmunicipal law, may adopt a local law, or in the case of a school\ndistrict, a resolution, authorizing a tax credit to be provided pursuant\nto this section for contributions to such fund. For purposes of this\nsection, a municipal corporation that has established such a fund and\nauthorized such a credit shall be referred to as a "participating"\nmunicipal corporation.\n (b) On and after a date specified in the local law or resolution\nadopted by a participating municipal corporation pursuant to paragraph\n(a) of this subdivision, the owner or owners of real property shall be\nallowed a credit against the real property taxes of a participating\nmunicipal corporation that have been imposed upon such property. The\namount of such credit shall equal ninety-five percent, or such lesser\nallowable percentage credit as may have been established pursuant to\nparagraph (c) of this subdivision, of the amount contributed by one or\nmore of the owners of such property during the "associated credit year"\nas defined in this section, to any or all of the funds established by\nsuch municipal corporation, subject to the limit established pursuant to\nparagraph (c) of this subdivision, if any.\n (c) The participating municipal corporation may establish a limit upon\nthe amount or percentage of such credit to be allowed in any given\nfiscal year, in which case the amount of such credit shall not exceed\nany limit so established. Any such limit shall be adopted by local law,\nor in the case of a school district, by resolution, which local law or\nresolution may either be the same as or separate from the local law or\nresolution that initially authorized the credit. Once such a limit has\nbeen adopted, it may be amended or repealed thereafter by local law, or\nin the case of a school district, by resolution, provided that any such\namendment or repeal shall only apply to taxes of the participating\nmunicipal corporation for fiscal years commencing after the adoption of\nsuch local law or resolution. A copy of any local law or resolution\nestablishing, amending or repealing such a limit shall be provided to\nthe collecting officer who collects the taxes of the participating\nmunicipal corporation.\n 2. For purposes of this section, the "associated credit year" shall be\nthe twelve-month period during which the owner of the property has made\na contribution described in subdivision one of this section that ends on\nthe last day prescribed by law on which the taxes of the participating\nmunicipal corporation may be paid without interest or penalties, subject\nto the following:\n (a) Where such taxes are payable in installments, such twelve-month\nperiod shall end on the last day prescribed by law on which the first\ninstallment of such taxes may be paid without interest or penalties.\n (b) Where a participating municipal corporation is a city school\ndistrict that is subject to article fifty-two of the education law, such\ntwelve-month period shall end on the last day prescribed by law on which\ncity taxes may be paid without interest or penalties, or if applicable,\non the last day prescribed by law on which the first installment of such\ntaxes may be paid without interest or penalties.\n (c) Each such twelve-month period shall be determined without regard\nto the possibility that the period prescribed by law for paying such\ntaxes without interest or penalties may be extended due to a delay in\nthe first publication of the collecting officer's notice as provided by\nsections thirteen hundred twenty-two or thirteen hundred twenty-four
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