Legislation
SECTION 3864
Intercept of city tax revenues, school district tax revenues and state aid revenues
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 10-D, TITLE 2
§ 3864. Intercept of city tax revenues, school district tax revenues
and state aid revenues. 1. The state comptroller, in accordance with
section twelve hundred sixty-one of the tax law, shall pay at least
monthly to the authority, (a) for the period beginning upon the
effective date of this title through June thirtieth, two thousand
thirty-seven, city tax revenues and, (b) for the period beginning July
first, two thousand four, and ending June thirtieth, two thousand
thirty-seven, during which the county sets aside net collections for
educational purposes pursuant to the authority of subdivision (a) of
section twelve hundred sixty-two of the tax law, school district tax
revenues. During the period beginning on the effective date of this
title through June thirtieth, two thousand thirty-seven, the county
shall impose such taxes pursuant to the authority of subdivision (a) of
section twelve hundred ten of the tax law at a rate of no less than
three percent. In addition, during such periods, respectively, the state
comptroller shall pay to the authority (i) city tax revenues pursuant to
the then current agreement under subdivision (c) of section twelve
hundred sixty-two of the tax law among the county and the cities in the
county and (ii) school district tax revenues; provided however, in the
event that such agreement among the county and such cities shall have
expired or been terminated during such period, notwithstanding any other
provision of general, special or local law to the contrary, the state
comptroller shall make such payments of city tax revenues to the
authority pursuant to the provisions of paragraph two of subdivision (d)
of section twelve hundred sixty-two of the tax law.
2. Commencing on the effective date of this title, and until June
thirtieth, two thousand thirty-seven, the state comptroller shall pay
state aid revenues to the authority.
3. The city shall have no right, title, or interest in the city tax
revenues or state aid revenues paid to the authority pursuant to this
section; and the school district shall have no right, title, or interest
in the school district tax revenues paid to the authority pursuant to
this section.
and state aid revenues. 1. The state comptroller, in accordance with
section twelve hundred sixty-one of the tax law, shall pay at least
monthly to the authority, (a) for the period beginning upon the
effective date of this title through June thirtieth, two thousand
thirty-seven, city tax revenues and, (b) for the period beginning July
first, two thousand four, and ending June thirtieth, two thousand
thirty-seven, during which the county sets aside net collections for
educational purposes pursuant to the authority of subdivision (a) of
section twelve hundred sixty-two of the tax law, school district tax
revenues. During the period beginning on the effective date of this
title through June thirtieth, two thousand thirty-seven, the county
shall impose such taxes pursuant to the authority of subdivision (a) of
section twelve hundred ten of the tax law at a rate of no less than
three percent. In addition, during such periods, respectively, the state
comptroller shall pay to the authority (i) city tax revenues pursuant to
the then current agreement under subdivision (c) of section twelve
hundred sixty-two of the tax law among the county and the cities in the
county and (ii) school district tax revenues; provided however, in the
event that such agreement among the county and such cities shall have
expired or been terminated during such period, notwithstanding any other
provision of general, special or local law to the contrary, the state
comptroller shall make such payments of city tax revenues to the
authority pursuant to the provisions of paragraph two of subdivision (d)
of section twelve hundred sixty-two of the tax law.
2. Commencing on the effective date of this title, and until June
thirtieth, two thousand thirty-seven, the state comptroller shall pay
state aid revenues to the authority.
3. The city shall have no right, title, or interest in the city tax
revenues or state aid revenues paid to the authority pursuant to this
section; and the school district shall have no right, title, or interest
in the school district tax revenues paid to the authority pursuant to
this section.