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For the purposes of this title: 4 1. Notwithstanding 3 the foregoing, a transaction described in the preceding sentence shall 4 not constitute a real estate investment trust transfer unless A it 5 occurs in connection with the initial formation of the REIT and the 6 conditions described in subparagraphs three and four of this paragraph 7 are satisfied, or B in the case of any real estate investment trust 8 transfer occurring on or after July thirteenth, nineteen hundred nine- 9 ty-six and before September first, two thousand [ twenty-three ] twenty- 10 six , the transaction is described in subparagraph five of this paragraph 11 in which case the provisions of such subparagraph shall apply. Paragraph f of subdivision 1 of section c of the real prop- 2 erty tax law, as amended by chapter of the laws of , is amended 3 to read as follows: 4 f. Report to the legislature on its findings, actions it plans to take, and make recommendations for further statutory amendments that may be needed to facilitate the timely achievement of such mandates.