N.Y. State Finance Law 99-FF*2 – New York central business district trust fund
* § 99-ff. New York central business district trust fund. 1. Establishment of the fund. 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 New York central business district trust fund. Moneys in this account shall be kept separate and not commingled with any other moneys in the custody of the comptroller.
Terms Used In N.Y. State Finance Law 99-FF*2
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
2. Sources of funds. The sources of funds shall consist of all moneys deposited pursuant to subdivision (c) of § 1148 of the tax law. Any interest received by the comptroller on moneys on deposit shall be retained and become part of the fund, unless otherwise directed by law.
3. Uses of funds. Following appropriation by the legislature, moneys shall be available for distribution to the central business district tolling capital lockbox established pursuant to § 553-j of the public authorities law.
* NB There are 2 § 99-ff's