S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9070
 
                           I N  A S S E M B L Y
 
                             January 18, 2018
                                ___________
 
 Introduced by M. of A. MOSLEY -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to amend the public service law, in relation to authorizing the
   commissioner of the public service commission to administer the commu-
   nity media development tax credit and fund; to amend the tax  law,  in
   relation  to providing a credit to certain taxpayers for contributions
   to the community media  development  fund;  and  to  amend  the  state
   finance  law, in relation to establishing the community media develop-
   ment fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public service law is amended by adding a new section
 28 to read as follows:
   § 28. POWER TO ADMINISTER THE COMMUNITY MEDIA DEVELOPMENT  TAX  CREDIT
 AND FUND. 1. (A) THE COMMISSIONER IS AUTHORIZED TO ADMINISTER THE COMMU-
 NITY MEDIA DEVELOPMENT TAX CREDIT TO PROVIDE TAX INCENTIVES TO TAXPAYERS
 WHO  ARE DIRECT BROADCAST SATELLITE SERVICE PROVIDERS OR VIDEO STREAMING
 SERVICE PROVIDERS AS DEFINED IN SECTION TWENTY-FOUR-B OF THE TAX LAW FOR
 CONTRIBUTIONS TO  THE  COMMUNITY  MEDIA  DEVELOPMENT  FUND,  ESTABLISHED
 PURSUANT TO SECTION NINETY-NINE-M OF THE STATE FINANCE LAW.
   (B)  THE COMMISSIONER SHALL PROMULGATE REGULATIONS BY DECEMBER THIRTY-
 FIRST, TWO THOUSAND EIGHTEEN TO ESTABLISH PROCEDURES FOR THE  ALLOCATION
 OF  TAX  CREDITS  PURSUANT TO SECTION TWENTY-FOUR-B OF THE TAX LAW. SUCH
 RULES AND REGULATIONS SHALL INCLUDE PROVISIONS DESCRIBING  THE  APPLICA-
 TION  PROCESS,  THE DUE DATES FOR SUCH APPLICATIONS, THE STANDARDS WHICH
 SHALL BE USED TO EVALUATE THE APPLICATIONS, THE DOCUMENTATION THAT  WILL
 BE  PROVIDED TO TAXPAYERS TO SUBSTANTIATE TO THE COMMISSIONER THE AMOUNT
 OF TAX CREDITS ALLOCATED TO SUCH TAXPAYERS, AND SUCH OTHER PROVISIONS AS
 DEEMED NECESSARY AND APPROPRIATE. NOTWITHSTANDING ANY  OTHER  PROVISIONS
 TO  THE  CONTRARY  IN THE STATE ADMINISTRATIVE PROCEDURE ACT, SUCH RULES
 AND REGULATIONS MAY BE ADOPTED ON AN EMERGENCY  BASIS  IF  NECESSARY  TO
 MEET SUCH DECEMBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN DEADLINE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14056-01-7
              

 A. 9070                             2
 
   (C)  IN  ORDER  TO  BE  ELIGIBLE FOR SUCH TAX CREDITS, A TAXPAYER MUST
 SUBMIT AN APPLICATION (IN A FORM PRESCRIBED BY THE COMMISSIONER) TO  THE
 COMMISSIONER.
   (D) IF, AFTER REVIEWING THE APPLICATION SUBMITTED BY THE TAXPAYER, THE
 COMMISSIONER DETERMINES THAT SUCH TAXPAYER HAS MADE CONTRIBUTIONS TO THE
 COMMUNITY  MEDIA DEVELOPMENT FUND, THEN THE COMMISSIONER SHALL ISSUE THE
 TAXPAYER A CERTIFICATE OF ELIGIBILITY THAT ESTABLISHES THE TAXPAYER AS A
 QUALIFIED TAXPAYER.
   2. (A) THE COMMISSIONER IS AUTHORIZED TO UTILIZE  THE  MONIES  IN  THE
 COMMUNITY  MEDIA  DEVELOPMENT FUND, FOR DISTRIBUTION TO ELIGIBLE MUNICI-
 PALITIES AND COMMUNITY MEDIA ORGANIZATIONS IN PROPORTIONS AS PROVIDED IN
 PARAGRAPH (B) OF THIS SUBDIVISION, PROVIDED HOWEVER,  THAT  THE  COMMIS-
 SIONER  MAY  MAKE  AVAILABLE UP TO TEN PERCENT OF THE MONIES IN THE FUND
 FOR OPERATIONAL EXPENDITURES ANNUALLY.
   (B) THE COMMISSIONER SHALL ANNUALLY IDENTIFY ALL MUNICIPALITIES WITHIN
 THE STATE WHO RECEIVE A FRANCHISE FEE PURSUANT TO 47 U.S.C. SECTION  542
 AND HAVE A COMMUNITY MEDIA ORGANIZATION PRESENT IN SUCH MUNICIPALITY AND
 DISTRIBUTE  THE MONIES IN THE FUND TO SUCH MUNICIPALITIES PROPORTIONALLY
 BASED UPON  THE  POPULATION  OF  SUCH  MUNICIPALITIES.  OF  SUCH  MONIES
 DISTRIBUTED  TO  A  MUNICIPALITY,  SIXTY  PERCENT  SHALL  BE DISTRIBUTED
 DIRECTLY TO SUCH MUNICIPALITY AND FORTY PERCENT SHALL BE DISTRIBUTED  TO
 THE COMMUNITY MEDIA ORGANIZATION FOR SUCH MUNICIPALITY.
   3.  FOR  THE  PURPOSES OF THIS SECTION, "COMMUNITY MEDIA ORGANIZATION"
 SHALL MEAN THE ENTITY RESPONSIBLE FOR MANAGING  PUBLIC,  EDUCATIONAL  OR
 GOVERNMENTAL ACCESS FACILITIES, AS DEFINED IN 47 U.S.C. SECTION 522(16).
   §  2.  The  tax law is amended by adding a new section 24-b to read as
 follows:
   § 24-B. COMMUNITY MEDIA DEVELOPMENT TAX CREDIT. (A) FOR  THE  PURPOSES
 OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (1)  "DIRECT  BROADCAST  SATELLITE SERVICE", MEANS THE DISTRIBUTION OR
 BROADCASTING BY SATELLITE OF VIDEO PROGRAMMING OR SERVICES  DIRECTLY  TO
 RECEIVING  EQUIPMENT  LOCATED AT AN END USER SUBSCRIBER'S OR AN END USER
 CUSTOMER'S PREMISES, INCLUDING, BUT NOT LIMITED  TO,  THE  PROVISION  OF
 PREMIUM  CHANNELS,  THE  PROVISION  OF  MUSIC OR OTHER AUDIO SERVICES OR
 CHANNELS,  AND  ANY  OTHER  SERVICE  RECEIVED  IN  CONNECTION  WITH  THE
 PROVISION OF DIRECT BROADCAST SATELLITE SERVICE.
   (2)  "DIRECT BROADCAST SATELLITE SERVICE PROVIDER", MEANS A PERSON WHO
 TRANSMITS, BROADCASTS OR OTHERWISE PROVIDES DIRECT  BROADCAST  SATELLITE
 SERVICE TO SUBSCRIBERS OR CUSTOMERS IN THE STATE.
   (3)  "VIDEO STREAMING SERVICE", MEANS THE DISTRIBUTION OR BROADCASTING
 OF VIDEO PROGRAMMING SENT OVER THE INTERNET AND DISPLAYED BY THE  VIEWER
 IN REAL TIME FOR A FEE ON A SUBSCRIPTION BASIS.
   (4)  "VIDEO STREAMING SERVICE PROVIDER", MEANS A PERSON WHO TRANSMITS,
 BROADCASTS OR OTHERWISE PROVIDES VIDEO STREAMING SERVICE TO  SUBSCRIBERS
 OR CUSTOMERS IN THE STATE.
   (5)  "GROSS  RECEIPTS",  MEANS ALL CONSIDERATION OF ANY KIND OR NATURE
 RECEIVED BY A DIRECT  BROADCAST  SATELLITE  SERVICE  PROVIDER  OR  VIDEO
 STREAMING   SERVICE  PROVIDER,  OR  AN  AFFILIATE  OF  SUCH  PERSON,  IN
 CONNECTION WITH THE PROVISION OF DIRECT BROADCAST SATELLITE  SERVICE  OR
 VIDEO STREAMING SERVICE TO SUBSCRIBERS OR CUSTOMERS, INCLUDING RECURRING
 MONTHLY  CHARGES FOR DIRECT BROADCAST SATELLITE SERVICE OR VIDEO STREAM-
 ING SERVICE AND  PAY-PER-VIEW,  VIDEO-ON-DEMAND  AND  OTHER  EVENT-BASED
 CHARGES  FOR  DIRECT  BROADCAST  SATELLITE  SERVICE  OR  VIDEO STREAMING
 SERVICE; PROVIDED, HOWEVER, THAT GROSS RECEIPTS SHALL NOT INCLUDE:
   (I) CHARGES FOR THE RENTAL OF EQUIPMENT RELATED TO  THE  PROVISION  OF
 DIRECT BROADCAST SATELLITE SERVICE OR VIDEO STREAMING SERVICE;

 A. 9070                             3
 
   (II) ACTIVATION, INSTALLATION, REPAIR AND MAINTENANCE CHARGES OR SIMI-
 LAR  SERVICE CHARGES RELATED TO THE PROVISION OF DIRECT BROADCAST SATEL-
 LITE SERVICE OR VIDEO STREAMING SERVICE;
   (III)  SERVICE ORDER CHARGES, SERVICE TERMINATION CHARGES OR ANY OTHER
 ADMINISTRATIVE CHARGES RELATED TO  THE  PROVISION  OF  DIRECT  BROADCAST
 SATELLITE SERVICE OR VIDEO STREAMING SERVICE;
   (IV)  REVENUE  NOT  ACTUALLY  RECEIVED,  REGARDLESS  OF  WHETHER IT IS
 BILLED, INCLUDING, BUT NOT LIMITED TO, BAD DEBTS;
   (V) REVENUE RECEIVED BY AN AFFILIATE OR OTHER PERSON IN  EXCHANGE  FOR
 SUPPLYING  GOODS  AND  SERVICES  USED  BY  A  DIRECT BROADCAST SATELLITE
 SERVICE PROVIDER OR VIDEO STREAMING SERVICE PROVIDER;
   (VI) REFUNDS, REBATES OR DISCOUNTS MADE TO SUBSCRIBERS  OR  CUSTOMERS,
 TO ADVERTISERS OR TO OTHER PERSONS;
   (VII)  REVENUE FROM TELECOMMUNICATIONS SERVICE AS DEFINED IN 47 U.S.C.
 SECTION 153(46);
   (VIII) REVENUE FROM INFORMATION  SERVICES  AS  DEFINED  IN  47  U.S.C.
 SECTION 153(20);
   (IX)  REVENUE  FROM  ANY  SERVICE THAT IS SUBJECT TO TAX UNDER ARTICLE
 TWENTY-EIGHT OF THIS CHAPTER;
   (X) REVENUE FROM THE SALE OF CAPITAL ASSETS OR SURPLUS  EQUIPMENT  NOT
 USED  BY  THE PURCHASER TO RECEIVE DIRECT BROADCAST SATELLITE SERVICE OR
 VIDEO STREAMING SERVICE FROM  THE  DIRECT  BROADCAST  SATELLITE  SERVICE
 PROVIDER OR VIDEO STREAMING SERVICE PROVIDER;
   (XI) REIMBURSEMENTS MADE BY PROGRAMMERS TO THE DIRECT BROADCAST SATEL-
 LITE  SERVICE PROVIDER OR VIDEO STREAMING SERVICE PROVIDER FOR MARKETING
 COSTS INCURRED BY SUCH SERVICE PROVIDER  FOR  THE  INTRODUCTION  OF  NEW
 PROGRAMMING  THAT  EXCEED  THE  ACTUAL  COSTS  INCURRED  BY SUCH SERVICE
 PROVIDER;
   (XII) LATE PAYMENT FEES COLLECTED FROM SUBSCRIBERS OR CUSTOMERS; OR
   (XIII) CHARGES, OTHER THAN THOSE CHARGES SPECIFICALLY DESCRIBED  HERE-
 IN,  THAT  ARE  AGGREGATED  OR  BUNDLED WITH SUCH SPECIFICALLY-DESCRIBED
 CHARGES ON A SUBSCRIBER OR CUSTOMER'S  BILL,  IF  THE  DIRECT  BROADCAST
 SATELLITE  SERVICE  PROVIDER  OR  VIDEO  STREAMING  SERVICE PROVIDER CAN
 REASONABLY IDENTIFY THE CHARGES IN ITS BOOKS AND  RECORDS  KEPT  IN  THE
 REGULAR COURSE OF BUSINESS.
   (6)  "PERSON",  MEANS  AN  INDIVIDUAL,  PARTNERSHIP, LIMITED LIABILITY
 COMPANY, TRUST OR ASSOCIATION,  WITH  OR  WITHOUT  TRANSFERABLE  SHARES,
 JOINT-STOCK  COMPANY, CORPORATION, SOCIETY, CLUB, ORGANIZATION, INSTITU-
 TION, ESTATE, RECEIVER, TRUSTEE,  ASSIGNEE  OR  REFEREE  AND  ANY  OTHER
 PERSON  ACTING  IN  A  FIDUCIARY  OR  REPRESENTATIVE  CAPACITY,  WHETHER
 APPOINTED BY A COURT OR OTHERWISE, AND ANY  COMBINATION  OF  INDIVIDUALS
 ACTING AS A UNIT.
   (7) "SUBSCRIBER OR CUSTOMER", MEANS ANY PERSON OR MEMBER OF THE GENER-
 AL  PUBLIC  WHO  RECEIVES  DIRECT  BROADCAST  SATELLITE SERVICE OR VIDEO
 STREAMING SERVICE FROM A DIRECT BROADCAST SATELLITE SERVICE PROVIDER  OR
 VIDEO  STREAMING  SERVICE  PROVIDER AND DOES NOT FURTHER DISTRIBUTE SUCH
 SERVICE IN THE ORDINARY COURSE OF BUSINESS.
   (8) "VIDEO PROGRAMMING", MEANS PROGRAMMING PROVIDED BY, OR  COMPARABLE
 TO  PROGRAMMING  PROVIDED  BY, A TELEVISION BROADCAST STATION INCLUDING,
 BUT NOT LIMITED  TO,  VIDEO  PROGRAMMING  PROVIDED  BY  LOCAL  NETWORKS,
 NATIONAL  BROADCAST  NETWORKS,  CABLE NETWORKS AND ALL FORMS OF PAY-PER-
 VIEW VIDEO ENTERTAINMENT.
   (B) A TAXPAYER WHO IS A DIRECT BROADCAST SATELLITE SERVICE PROVIDER OR
 VIDEO STREAMING SERVICE PROVIDER SHALL BE ALLOWED A CREDIT OF UP TO FIVE
 PERCENT OF SUCH SERVICE PROVIDER'S GROSS RECEIPTS  FOR  SUCH  TAX  YEAR,
 AGAINST  THE TAX IMPOSED BY ARTICLES NINE-A AND TWENTY-TWO OF THIS CHAP-

 A. 9070                             4
 
 TER FOR CONTRIBUTIONS TO THE COMMUNITY  MEDIA  DEVELOPMENT  FUND  ESTAB-
 LISHED PURSUANT TO SECTION NINETY-NINE-M OF THE STATE FINANCE LAW.
   (C) THE COMMISSIONER OF THE PUBLIC SERVICE COMMISSION SHALL PROMULGATE
 REGULATIONS BY DECEMBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN TO ESTABLISH
 PROCEDURES  FOR  THE  ALLOCATION  OF TAX CREDITS AS REQUIRED PURSUANT TO
 SECTION TWENTY-EIGHT OF THE PUBLIC SERVICE LAW.  SUCH  RULES  AND  REGU-
 LATIONS SHALL INCLUDE PROVISIONS DESCRIBING THE APPLICATION PROCESS, THE
 DUE  DATES  FOR  SUCH APPLICATIONS, THE STANDARDS WHICH SHALL BE USED TO
 EVALUATE THE APPLICATIONS, THE DOCUMENTATION THAT WILL  BE  PROVIDED  TO
 TAXPAYERS  TO  SUBSTANTIATE  TO THE DEPARTMENT THE AMOUNT OF TAX CREDITS
 ALLOCATED TO SUCH TAXPAYERS, AND SUCH OTHER PROVISIONS AS DEEMED  NECES-
 SARY AND APPROPRIATE.
   (D)  THE  CREDIT ALLOWED UNDER THIS SECTION FOR ANY TAXABLE YEAR SHALL
 NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE AMOUNT  PRESCRIBED
 IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO HUNDRED TEN OF THIS
 CHAPTER. PROVIDED, HOWEVER, THAT IF THE AMOUNT OF THE  CREDIT  ALLOWABLE
 UNDER  THIS SECTION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT,
 THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE  CREDITED  OR
 REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
 EIGHTY-SIX OF  THIS  CHAPTER.    PROVIDED  FURTHER,  THE  PROVISIONS  OF
 SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
 NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
   (E) THE TAXPAYER MAY BE REQUIRED TO  ATTACH  TO  ITS  TAX  RETURN  ITS
 CERTIFICATE  OF  ELIGIBILITY  ISSUED  BY  THE COMMISSIONER OF THE PUBLIC
 SERVICE COMMISSION  PURSUANT  TO  SECTION  TWENTY-EIGHT  OF  THE  PUBLIC
 SERVICE LAW.
   (F)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 53;
   (2) ARTICLE 22: SECTION 606, SUBSECTION (I), PARAGRAPH  (1),  SUBPARA-
 GRAPH (B), CLAUSE (XLIV); AND
   (3) ARTICLE 22: SECTION 606, SUBSECTION (CCC).
   §  3. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 53 to read as follows:
   53. COMMUNITY MEDIA DEVELOPMENT TAX CREDIT. (A) ALLOWANCE OF CREDIT. A
 TAXPAYER SHALL BE ALLOWED A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED  IN
 SECTION  TWENTY-FOUR-B  OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS
 ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY  TAXABLE  YEAR MAY NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE AMOUNT PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF
 SECTION TWO HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CRED-
 IT  ALLOWED  UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX
 TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH TAXABLE
 YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED
 IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX  OF
 THIS  CHAPTER.  PROVIDED,  HOWEVER,  THE PROVISIONS OF SUBSECTION (C) OF
 SECTION ONE THOUSAND EIGHTY-SIX  OF  THIS  CHAPTER  NOTWITHSTANDING,  NO
 INTEREST WILL BE PAID THEREON.
   §  4. Section 606 of the tax law is amended by adding a new subsection
 (ccc) to read as follows:
   (CCC) COMMUNITY MEDIA DEVELOPMENT TAX CREDIT. (A) ALLOWANCE OF CREDIT.
 A TAXPAYER SHALL BE ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN
 SECTION  TWENTY-FOUR-B  OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS
 ARTICLE.

 A. 9070                             5
 
   (B) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
 THIS  SUBSECTION  EXCEEDS  THE  TAXPAYER'S TAX FOR THE TAXABLE YEAR, ANY
 AMOUNT OF CREDIT NOT DEDUCTIBLE IN THAT TAXABLE YEAR WILL BE TREATED  AS
 AN  OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE
 PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE.  PROVIDED,
 HOWEVER, NO INTEREST WILL BE PAID THEREON.
   §  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xliv)  to  read  as
 follows:
 (XLIV) COMMUNITY MEDIA               AMOUNT OF THE CREDIT UNDER
 DEVELOPMENT CREDIT UNDER             SUBDIVISION FIFTY-THREE OF SECTION
 SUBSECTION (CCC)                     TWO HUNDRED TEN-B
   §  6. The state finance law is amended by adding a new section 99-m to
 read as follows:
   § 99-M. COMMUNITY MEDIA DEVELOPMENT FUND. 1. THERE  IS  HEREBY  ESTAB-
 LISHED  IN  THE JOINT CUSTODY OF THE COMPTROLLER AND THE COMMISSIONER OF
 TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN AS THE "COMMUNITY  MEDIA
 DEVELOPMENT FUND".
   2.  (A)  ALL MONIES RECEIVED BY THE COMPTROLLER OR THE COMMISSIONER OF
 TAXATION AND FINANCE FOR THE PURPOSE OF THIS  FUND  SHALL  BE  DEPOSITED
 HEREIN.  NO  MONIES  MAY  BE  TRANSFERRED FROM THIS ACCOUNT TO ANY OTHER
 ACCOUNT EXCEPT BY AUTHORITY OF THE COMMISSIONER OF  THE  PUBLIC  SERVICE
 COMMISSION.
   (B)  SUCH  FUND  SHALL  CONSIST  OF  THE REVENUE COLLECTED PURSUANT TO
 SECTION TWENTY-FOUR-B OF THE TAX LAW AND ANY OTHER REVENUES COLLECTED BY
 OR APPROPRIATED TO THE FUND PURSUANT TO ANY OTHER LAW.
   3. MONIES OF THE FUND, FOLLOWING  APPROPRIATION  BY  THE  LEGISLATURE,
 SHALL  BE  UTILIZED BY THE COMMISSIONER OF THE PUBLIC SERVICE COMMISSION
 FOR DISTRIBUTION TO MUNICIPALITIES  AND  COMMUNITY  MEDIA  ORGANIZATIONS
 PURSUANT TO THE PROVISIONS OF SECTION TWENTY-EIGHT OF THE PUBLIC SERVICE
 LAW.  THE  COMMISSIONER  OF THE PUBLIC SERVICE COMMISSION MAY, AT HIS OR
 HER DISCRETION, MAKE AVAILABLE UP TO TEN PERCENT OF THE  MONIES  IN  THE
 FUND FOR OPERATIONAL EXPENDITURES ANNUALLY.
   4. ALL PAYMENTS OF MONIES FROM THE FUND SHALL BE MADE ON THE AUDIT AND
 WARRANT OF THE COMPTROLLER.
   § 7. This act shall take effect immediately and apply to taxable years
 beginning on or after January 1, 2019.