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This entry was published on 2014-09-22
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SECTION 1439-K*3
Deposit and disposition of revenue
Tax (TAX) CHAPTER 60, ARTICLE 31-A-2*3
* § 1439-k. Deposit and disposition of revenue. 1. All taxes,
penalties and interest imposed by the town under the authority of
section fourteen hundred thirty-nine-b of this article, which are
collected by the treasurer or his or her agents, shall be deposited in a
single trust fund for the town and shall be kept in trust and separate
and apart from all other monies in possession of the treasurer. Moneys
in such fund shall be deposited and secured in the manner provided by
section ten of the general municipal law. Pending expenditure from such
fund, moneys therein may be invested in the manner provided in section
eleven of the general municipal law. Any interest earned or capital gain
realized on the moneys so deposited or invested shall accrue to and
become part of such fund.

2. The treasurer shall retain such amount as he or she may determine
to be necessary for refunds with respect to the tax imposed by the town,
under the authority of section fourteen hundred thirty-nine-b of this
article, out of which the treasurer shall pay any refunds of such taxes
to those taxpayers entitled to a refund pursuant to the provisions of
this article.

3. The treasurer, after reserving such refunds, shall on or before the
twelfth day of each month pay to the town supervisor the taxes,
penalties and interest imposed by the town under the authority of
section fourteen hundred thirty-nine-b of this article, collected by the
treasurer, pursuant to this article during the next preceding calendar
month. The amount so payable shall be certified to the town supervisor
by the treasurer, who shall not be held liable for any inaccuracy in
such certification. Provided, however, any such certification may be
based on such information as may be available to the treasurer at the
time such certification must be made under this section. Where the
amount so paid over to the town in any such distribution is more or less
than the amount due to the town, the amount of the overpayment or
underpayment shall be certified to the town supervisor by the treasurer,
who shall not be held liable for any inaccuracy in such certification.
The amount of the overpayment or underpayment shall be so certified to
the town supervisor as soon after the discovery of the overpayment or
underpayment as reasonably possible and subsequent payments and
distributions by the treasurer to the town 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 treasurer and town supervisor shall consider
reasonable in view of the overpayment or underpayment and all other
facts and circumstances.

4. All monies received from the treasurer shall be deposited in the
fund of the town, pursuant to section sixty-four-i of the town law.

* NB Repealed December 31, 2027

* NB There are 3 § 1439-k's