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This entry was published on 2019-06-07
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SECTION 1167
Deposit and disposition of revenue
Tax (TAX) CHAPTER 60, ARTICLE 28-A
§ 1167. Deposit and disposition of revenue. 1. All taxes, interest and
penalties collected or received by the commissioner under this article
shall be deposited and disposed of pursuant to the provisions of section
one hundred seventy-one-a of this chapter, except that after reserving
amounts in accordance with such section one hundred seventy-one-a of
this chapter, the remainder shall be paid by the comptroller to the
credit of the highway and bridge trust fund established by section
eighty-nine-b of the state finance law, provided, however: (a) taxes,
interest and penalties collected or received pursuant to section eleven
hundred sixty-six-a of this article shall be deposited and disposed of
pursuant to subdivision two of this section; and (b) taxes, interest and
penalties collected or received pursuant to section eleven hundred
sixty-six-b of this article shall be paid to the credit of the public
transportation systems operating assistance account established by
section eighty-eight-a of the state finance law.

2. All taxes, interest, and penalties collected or received by the
commissioner pursuant to section eleven hundred sixty-six-a of this
article shall be deposited daily with such responsible banks, banking
houses or trust companies, as may be designated by the comptroller, in
trust for the credit of 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. 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 day of each month, after reserving
such amount for such refunds and deducting such amounts for such costs,
the commissioner shall certify to the comptroller the amount of all
revenues received pursuant to this article during the prior month as a
result of the tax imposed, including any interest and penalties thereon.
The amount of revenues so certified over the prior three months in total
shall be paid over by the fifteenth day of the last month of each
calendar quarter from such account, without appropriation, into the
corporate transportation account of the metropolitan transportation
authority special assistance fund established by section twelve hundred
seventy-a of the public authorities law, to be applied as provided in
paragraph (e) of subdivision four of such section.