N.Y. State Finance Law 93-A – New York state storm recovery capital fund
§ 93-a. New York state storm recovery capital fund. 1. (a) There is hereby established in the joint custody of the comptroller and the commissioner of taxation and finance a special fund to be known as the "New York state storm recovery capital fund".
Terms Used In N.Y. State Finance Law 93-A
- 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
(b) The sources of funds shall consist of all moneys collected therefor, or moneys credited, appropriated or transferred thereto from any other fund or source pursuant to law, or any other moneys made available for the purposes of the fund.
2. Following appropriation by the legislature, moneys in the storm recovery capital fund shall be available for the repair, rehabilitation, or replacement of capital works or purposes damaged by Hurricane Sandy or any future natural disaster expected to be eligible for reimbursement by the Federal Emergency Management Agency (FEMA), the Federal Transit Administration (FTA), the Federal Highway Administration (FHWA) and/or any other Federal reimbursement source. No money in this account may be expended for any project unless the director of the budget or his or her designee has determined that there is a substantial likelihood that the costs of such project shall be eligible for reimbursement by Federal sources.