N.Y. State Finance Law 97-JJ – Industrial and utility service account
* § 97-jj. Industrial and utility service account. 1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance an industrial and utility service account within the miscellaneous special revenue fund.
Terms Used In N.Y. State Finance Law 97-JJ
- Appraisal: A determination of property value.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. All moneys charged and received by the commissioner of taxation and finance for services performed and information furnished relating to the assessment or appraisal of any industrial or utility property for purposes of the real property tax shall be deposited to the credit of the industrial and utility service account.
3. Moneys within the industrial and utility service account, upon appropriation by the legislature, shall be available to the commissioner of taxation and finance for services and expenses of the office relating to the calculation, determination and certification of railroad ceilings, special franchise assessments and oil and gas unit of production values.
* NB There are 2 § 97-jj's