§ 214. Establishment and purpose; linked deposit program
authorization. The excelsior linked deposit program is hereby created.
The purpose of the program is to encourage and assist eligible
businesses within the state to undertake eligible projects that will
materially contribute to improving their performance and
competitiveness. The comptroller is hereby authorized to use any moneys
of the state the comptroller is authorized to invest pursuant to section
ninety-eight-a of this chapter as linked deposits for the program. Not
more than one billion dollars of such moneys shall be on deposit
pursuant to the program at any given time. The commissioner of taxation
and finance is hereby authorized to use funds in the linked deposit
program fund established pursuant to section ninety-two-v of this
chapter as linked deposits for the program. Not more than one hundred
million dollars from the linked deposit program fund shall be on deposit
pursuant to the program at any given time.