New York Consolidated Law|SECTION 1421

                                                

  § 1421. Deposit and dispositions of revenues. (a) From the taxes,
interest and penalties attributable to the tax imposed pursuant to
section fourteen hundred two of this article, the amount of one hundred
ninety-nine million three hundred thousand dollars shall be deposited by
the comptroller in the environmental protection fund established
pursuant to section ninety-two-s of the state finance law for the fiscal
year beginning April first, two thousand nine; the amount of one hundred
nineteen million one hundred thousand dollars shall be deposited in such
fund for the fiscal year beginning April first, two thousand ten; and
for each fiscal year thereafter. On or before June twelfth, nineteen
hundred ninety-five and on or before the twelfth day of each month
thereafter (excepting the first and second months of each fiscal year),
the comptroller shall deposit into such fund from the taxes, interest
and penalties collected pursuant to such section fourteen hundred two of
this article which have been deposited and remain to the comptroller's
credit in the banks, banking houses or trust companies referred to in
section one hundred seventy-one-a of this chapter at the close of
business on the last day of the preceding month, an amount equal to
one-tenth of the annual amount required to be deposited in such fund
pursuant to this section for the fiscal year in which such deposit is
required to be made. In the event such amount of taxes, interest and
penalties so remaining to the comptroller's credit is less than the
amount required to be deposited in such fund by the comptroller, an
amount equal to the shortfall shall be deposited in such fund by the
comptroller with subsequent deposits, as soon as the revenue is
available. Beginning April first, nineteen hundred ninety-seven, the
comptroller shall transfer monthly to the clean water/clean air fund
established pursuant to section ninety-seven-bbb of the state finance
law, all moneys remaining from such taxes, interest and penalties
collected that are not required for deposit in the environmental
protection fund.

(b) Notwithstanding subdivision (a) of this section, the taxes,
interest and penalties attributable to (i) the tax imposed under section
fourteen hundred two of this article at the rate specified in paragraph
two of subdivision (a) of such section, and (ii) the tax imposed under
section fourteen hundred two-b of this article, and collected or
received by the commissioner shall be deposited daily with such
responsible banks, banking houses or trust companies, as may be
designated by the comptroller, to the credit of the comptroller in trust
for the metropolitan transportation authority. An account may be
established in one or more of such depositories. Such deposits will be
kept separate and apart from all other money in the possession of the
comptroller. The comptroller shall require adequate security from all
such depositories.  Of the total revenue collected or received under
this article, the comptroller shall retain such amount as the
commissioner may determine to be necessary for refunds under this
article. On or before the twelfth and twenty-sixth day of each
succeeding month, after reserving such amount for such refunds, the
commissioner shall certify to the comptroller the amount of all revenues
so received during the prior month as a result of the taxes, interest
and penalties so imposed. The amount of revenues so certified shall be
paid over by the fifteenth and the final business day of each succeeding
month from such account without appropriation into the central business
district tolling capital lockbox fund established pursuant to section
five hundred fifty-three-j of the public authorities law, provided,
however, that the comptroller shall ensure that any payments to the
central business district tolling capital lockbox fund established that
are due to be paid by the final business day in the month of December
pursuant to this subdivision shall be received by the central business
district tolling capital lockbox fund on the same business day in which
it is paid.