N.Y. State Finance Law 97-EEEE – Rebuild and renew New York transportation bond fund
* § 97-eeee. Rebuild and renew New York transportation bond fund. 1. 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 "rebuild and renew New York transportation bond fund."
Terms Used In N.Y. State Finance Law 97-EEEE
- 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. The comptroller shall establish at least two separate and distinct accounts within the rebuild and renew New York transportation bond fund as follows, which shall include the following: (a) an account containing all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to subdivision a of § 4 of the rebuild and renew New York transportation bond act of two thousand five, enacted by a chapter of the laws of two thousand five; and (b) an account containing all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to subdivision b of § 4 of the rebuild and renew New York transportation bond act of two thousand five, enacted by a chapter of the laws of two thousand five.
3. Moneys in any account of this fund, following appropriation by the legislature and allocation by the director of the budget, shall be available only for reimbursement of expenditures made from appropriations from the capital projects fund for the purpose of the rebuild and renew New York transportation bond fund, as set forth in the rebuild and renew New York transportation bond act of two thousand five.
4. No moneys received by the state from the sale of bonds and/or notes sold pursuant to the rebuild and renew New York transportation bond act of two thousand five shall be expended for any project until funds therefor have been allocated pursuant to the provisions of this section and copies of the appropriate certificates of approval filed with the chair of the senate finance committee, the chair of the assembly ways and means committee and the state comptroller.
* NB There are 3 § 97-eeee's