Legislation
SECTION 97-UUU*2
Transportation infrastructure bond fund
State Finance (STF) CHAPTER 56, ARTICLE 6
* § 97-uuu. Transportation infrastructure bond fund. 1. There is
hereby established in the joint custody of the state comptroller and the
commissioner of taxation and finance a special fund to be known as the
"transportation infrastructure bond fund."
2. The comptroller shall establish at least three separate and
distinct accounts within the transportation infrastructure bond fund as
follows, which shall include the following: (a) an account containing
all moneys received by the state from the sale of bonds and/or notes for
uses eligible pursuant to subdivision a of section four of the
Transportation Infrastructure Bond Act of 2000, enacted by a chapter of
the laws of two thousand; (b) an account containing all moneys received
by the state from the sale of bonds and/or notes for uses eligible
pursuant to subdivision b of section four of the Transportation
Infrastructure Bond Act of 2000, enacted by a chapter of the laws of two
thousand; and (c) an account containing all moneys received by the state
from the sale of bonds and/or notes for uses eligible pursuant to
subdivision c of section four of the Transportation Infrastructure Bond
Act of 2000, enacted by a chapter of the laws of two thousand.
3. Moneys in any account of this fund, following appropriation by the
legislature and allocation by the director of the budget, shall be
available only for reimbursement of expenditures made from
appropriations from the capital projects fund for the purpose of the
transportation infrastructure bond fund, as set forth in the
Transportation Infrastructure Bond Act of 2000.
4. No moneys received by the state from the sale of bonds and/or notes
sold pursuant to the Transportation Infrastructure Bond Act of 2000
shall be expended for any project until funds therefor have been
allocated pursuant to the provisions of this section and copies of the
appropriate certificates of approval filed with the chairman of the
senate finance committee, the chairman of the assembly ways and means
committee and the state comptroller.
* NB Not effective due to defeat of the Transportation Bond Act of
2000.
* NB There are 2 § 97-uuu's
hereby established in the joint custody of the state comptroller and the
commissioner of taxation and finance a special fund to be known as the
"transportation infrastructure bond fund."
2. The comptroller shall establish at least three separate and
distinct accounts within the transportation infrastructure bond fund as
follows, which shall include the following: (a) an account containing
all moneys received by the state from the sale of bonds and/or notes for
uses eligible pursuant to subdivision a of section four of the
Transportation Infrastructure Bond Act of 2000, enacted by a chapter of
the laws of two thousand; (b) an account containing all moneys received
by the state from the sale of bonds and/or notes for uses eligible
pursuant to subdivision b of section four of the Transportation
Infrastructure Bond Act of 2000, enacted by a chapter of the laws of two
thousand; and (c) an account containing all moneys received by the state
from the sale of bonds and/or notes for uses eligible pursuant to
subdivision c of section four of the Transportation Infrastructure Bond
Act of 2000, enacted by a chapter of the laws of two thousand.
3. Moneys in any account of this fund, following appropriation by the
legislature and allocation by the director of the budget, shall be
available only for reimbursement of expenditures made from
appropriations from the capital projects fund for the purpose of the
transportation infrastructure bond fund, as set forth in the
Transportation Infrastructure Bond Act of 2000.
4. No moneys received by the state from the sale of bonds and/or notes
sold pursuant to the Transportation Infrastructure Bond Act of 2000
shall be expended for any project until funds therefor have been
allocated pursuant to the provisions of this section and copies of the
appropriate certificates of approval filed with the chairman of the
senate finance committee, the chairman of the assembly ways and means
committee and the state comptroller.
* NB Not effective due to defeat of the Transportation Bond Act of
2000.
* NB There are 2 § 97-uuu's