§ 1262-u. Allocation and distribution of certain net collections in Genesee county. If the county of Genesee enters into an agreement pursuant to the authority of subdivision (c) of section twelve hundred sixty-two of this part with the city of Batavia to allocate and distribute a portion of net collections due the county from its taxes imposed pursuant to the authority of subdivision (a) of section twelve hundred ten of this article, the agreement may be for a term not exceeding forty years and the state comptroller shall not disapprove such agreement based on the length of its term, provided that such term shall not exceed forty years.