N.Y. State Finance Law 97-E – Forest preserve expansion fund
§ 97-e. Forest preserve expansion fund. 1. There is hereby established in the state treasury a special fund, to be known as the forest preserve expansion fund, which shall consist of and into which shall be paid all moneys derived from the sale of certain forest preserve lands specified in § 24 of the public lands law, monies received from a project sponsor of an eligible project for a health and safety land account transaction pursuant to section 9-2101 of the environmental conservation law and such other moneys as may be paid into said fund pursuant to law. The moneys in such fund shall be expended only for the acquisition of additional lands for the forest preserve within either the Adirondack or Catskill park as now fixed by law. Upon appropriation by the legislature, the department of environmental conservation may use such moneys or any portion thereof for the acquisition of such additional lands subject to the approval of title thereto by the attorney general. All payments from such fund shall be made by the department of taxation and finance after audit by and upon warrant of the comptroller, on vouchers approved by the commissioner of environmental conservation.
Terms Used In N.Y. State Finance Law 97-E
- 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
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
2. The commissioner of environmental conservation is authorized to accept, in the name of the people of the state of New York, any gift or bequest of moneys to be paid into such forest preserve expansion fund and to be expended and disbursed as provided in subdivision one of this section.