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This entry was published on 2019-04-19
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SECTION 499-D
Deposit and disposition of revenue from supplemental fee
Vehicle & Traffic (VAT) CHAPTER 71, TITLE 4, ARTICLE 17-C
§ 499-d. Deposit and disposition of revenue from supplemental fee. The
commissioner shall deposit daily all funds derived from the collection
of the supplemental fee established pursuant to this article with such
responsible banks, banking houses or trust companies as may be
designated by the state 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 shall be kept separate
and apart from all other money in the possession of the comptroller. On
or before the twelfth day of each month, 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 supplemental fee
imposed, including any interest and penalties thereon. The 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. Any money collected pursuant to this
section that is deposited by the comptroller in the corporate
transportation account of the metropolitan transportation authority
special assistance fund shall be held in such fund free and clear of any
claim by any person or entity paying an additional fee pursuant to this
section, including, without limiting the generality of the foregoing,
any right or claim against the metropolitan transportation authority,
any of its bondholders, or any subsidiary or affiliate of the
metropolitan transportation authority.