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This entry was published on 2014-09-22
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SECTION 1333
Deposit and disposition of revenues
Tax (TAX) CHAPTER 60, ARTICLE 30-A
§ 1333. Deposit and disposition of revenues. All revenue collected by
the commissioner of taxation and finance from the tax imposed by any
city pursuant to the authority of this article or article thirty-B of
this chapter shall be deposited daily with such responsible banks,
banking houses or trust companies, as may be designated by the state
comptroller, to the credit of the comptroller, in trust for such city.
Such deposits shall be kept in trust and separate and apart from all
other moneys in the possession of the comptroller. The comptroller shall
require adequate security from all such depositories of such revenue
collected by the commissioner of taxation and finance. The comptroller
shall retain in his hands such amount as the commissioner of taxation
and finance may determine to be necessary for refunds in respect to the
tax imposed by such city pursuant to the authority of this article or
article thirty-B of this chapter and for reasonable costs of the
commissioner of taxation and finance in administering, collecting and
distributing such taxes, out of which the comptroller shall pay any
refunds of such taxes to which the taxpayer shall be entitled under any
law enacted by such city pursuant to the authority of this article or
article thirty-B of this chapter. The comptroller, after reserving such
refund fund and such cost shall, on or before the fifteenth day of each
month, pay to the chief fiscal officer of such city the balance of such
taxes collected, to be paid into the treasury of such city to the credit
of the general fund except that he shall pay to the state department of
social services that amount of overpayments of the tax imposed by such
city pursuant to the authority of this article or article thirty-B of
this chapter and the interest on such amount which is certified to him
by the commissioner of taxation and finance as the amount to be credited
against past-due support pursuant to subdivision six of section one
hundred seventy-one-c of this chapter and except that he shall pay to
the New York state higher education services corporation that amount of
overpayments of the tax imposed by such city pursuant to the authority
of this article or article thirty-B of this chapter and the interest on
such amount which is certified to him by the commissioner of taxation
and finance as the amount to be credited against the amount of defaults
in repayment of guaranteed student loans pursuant to subdivision five of
section one hundred seventy-one-d of this chapter and except that he
shall pay to the state university of New York or the city university of
New York respectively that amount of overpayments of the tax imposed by
such city pursuant to the authority of this article or article thirty-B
of this chapter and the interest on such amount which is certified to
him by the commissioner of taxation and finance as the amount to be
credited against the amount of defaults in repayment of state or city
university loans pursuant to subdivision six of section one hundred
seventy-one-e of this chapter and except that, notwithstanding any other
provision of law, he shall credit to the revenue arrearage account,
pursuant to section ninety-one-a of the state finance law, that amount
of overpayments of the taxes imposed pursuant to the authority of this
article or article thirty-B of this chapter and the interest on such
amount which is certified to him by the commissioner of taxation and
finance as the amount to be credited against a past-due legally
enforceable debt owed to a state agency pursuant to paragraph (a) of
subdivision six of section one hundred seventy-one-f of this chapter,
provided, however, he shall credit to the special offset fiduciary
account, pursuant to section ninety-one-c of the state finance law, any
such amount creditable as a liability as set forth in paragraph (b) of
subdivision six of section one hundred seventy-one-f of this chapter and
except that he shall pay to the city of New York that amount of
overpayments of tax imposed pursuant to the authority of this article or
article thirty-B of this chapter and the interest on such amount which
is certified to him by the commissioner of taxation and finance as the
amount to be credited against city of New York tax warrant judgment debt
pursuant to section one hundred seventy-one-l of this chapter, and
except further that he/she shall pay to a non-obligated spouse that
amount of overpayment of tax imposed by such city pursuant to the
authority of this article or article thirty-B of this chapter and the
interest on such amount which has been credited pursuant to section one
hundred seventy-one-c, one hundred seventy-one-d, one hundred
seventy-one-e, one hundred seventy-one-f or one hundred seventy-one-l of
this chapter and which is certified to him by the commissioner of
taxation and finance as the amount due such non-obligated spouse
pursuant to paragraph six of subsection (b) of section six hundred
fifty-one of this chapter, and he shall deduct a like amount which he
shall pay into the treasury to the credit of the general fund from
amounts subsequently payable to the department of social services, the
state university of New York, the city university of New York, or the
higher education services corporation or to the revenue arrearage
account or special offset fiduciary account pursuant to section
ninety-one-a or ninety-one-c of the state finance law, as the case may
be, whichever had been credited the amount originally withheld from such
overpayment. The amount deducted for administering, collecting and
distributing such taxes during such monthly period shall be paid by the
comptroller into the general fund of the state treasury to the credit of
the state purposes account therein. The first payment to such chief
fiscal officer shall be made on or before March fifteenth, nineteen
hundred eighty-five, which payment shall represent the balance of
revenue after provision for refund and such reasonable costs, with
respect to taxes collected in nineteen hundred eighty-four. Subsequent
payments shall be made on or before April fifteenth, nineteen hundred
eighty-five, and on or before the fifteenth day of each succeeding month
thereafter, and shall represent the balance of revenue with respect to
taxes collected the preceding calendar months. The amounts so payable
shall be certified to the comptroller by the commissioner of taxation
and finance or his delegate, either of whom shall not be held liable for
any inaccuracy in such certificate. Where the amount so paid over to
such chief fiscal officer is more or less than the amount then due such
city, the amount of overpayment or underpayment shall be certified to
the comptroller by the commissioner of taxation and finance or his
delegate, either of whom shall not be held liable for any inaccuracy in
such certificate. The amount of overpayment or underpayment shall be so
certified to the comptroller as soon after the discovery of the
overpayment or underpayment as reasonably possible and subsequent
payments by the comptroller to such chief fiscal officer shall be
adjusted by subtracting the amount of any such overpayment from, or by
adding the amount of any such underpayment to such number of subsequent
payments and distributions as the comptroller and the commissioner of
taxation and finance shall consider reasonable in view of the amount of
the overpayment or underpayment and all other facts and circumstances.