STATE OF NEW YORK

DEPARTMENT OF TAXATION AND FINANCE

COMMISSIONER OF TAXATION AND FINANCE

ALBANY, NEW YORK

Pursuant to the authority contained in subdivision First of section 171, subdivision (b) of section 315, subsection (a) of section 697, subdivision (a) of section 1096, subdivision 1 of section 1142, section 1250 (not subdivided), subsection (a) of section 1312, subsection (a) of section 1332, and section 1342 (not subdivided) of the Tax Law; subdivision (e) of section 25-n of the General City Law; subdivision (a) of section 11-1797 and section 11-1943 (not subdivided) of the Administrative Code of the City of New York; section 15-108 of the Codes and Ordinances of the City of Yonkers; and sections 1 and 38 of Part R of Chapter 85 of the Laws of 2002; the Second Deputy Commissioner of Taxation and Finance, being duly authorized to act in the absence of the Commissioner of Taxation and Finance and the vacancy in the office of the First Deputy Commissioner of Taxation and Finance, at an open meeting held on even date with the signing of this rule, hereby makes and adopts as an emergency measure the following amendments with respect to the Amnesty Program as published in the newly added Chapter X of Title 20 of the Official Compilation of Codes, Rules and Regulations of the State of New York, to read as follows:

Section 1. A new Chapter X is added to such regulations to read as follows:

Chapter X

Amnesty Program

PART

2500 Amnesty Program of 2002 - 2003

Part 2500

Amnesty Program of 2002 - 2003

(Statutory Authority: Tax Law, §171; L. 2002, ch. 85, Part R, §§ 1 (k) and 38(b))

Sec.

2500.1 Amnesty Program of 2002 - 2003

Section 2500.1 Amnesty Program of 2002 - 2003. Part R of Chapter 85 of the Laws of 2002 establishes an amnesty program to be administered by the Commissioner of Taxation and Finance and describes the eligible taxpayers and the applicable tax liabilities for the amnesty program. The program allows all eligible taxpayers to receive a waiver of certain penalties and a two percent reduction in the applicable rate of interest upon payment of the past due tax liabilities. Part R provides that the program is effective for the period as prescribed by the Commissioner. The amnesty program will begin on November 18, 2002 , and end on January 31, 2003.

DATED: Albany, New York

November 18, 2002

________________________________________

Michelle A. Cummings

Deputy Commissioner of the Office of Tax Policy Analysis

Department of Taxation and Finance