N.Y. Public Authorities Law 3964 – Intercept of county tax revenues and state aid revenues
§ 3964. Intercept of county tax revenues and state aid revenues. 1. Commencing on the effective date of this title, and until December thirty-first, two thousand thirty-nine, the state comptroller shall pay county tax revenues at least monthly to the authority in accordance with § 1261 of the tax law. During such period, the county shall impose sales and compensating use taxes pursuant to the authority of subdivision (a) of § 1210 of the tax law at a rate of no less than three percent.
Terms Used In N.Y. Public Authorities Law 3964
- Comptroller: means the comptroller of the county. See N.Y. Public Authorities Law 3951
- County: means Erie county. See N.Y. Public Authorities Law 3951
- County tax revenues: means net collections set aside for county purposes pursuant to subdivision (a) of § 1262 of the tax law, from the county's sales and compensating use taxes imposed pursuant to the authority of subpart B of part one of Article 29 of the tax law. See N.Y. Public Authorities Law 3951
- Revenues: means revenues of the authority consisting of county tax revenues, state aid revenues, and all other aid, rents, fees, charges, payments and other income and receipts paid or payable to the authority or a trustee for the account of the authority to the extent such amounts are pledged to bondholders. See N.Y. Public Authorities Law 3951
- State: means the state of New York. See N.Y. Public Authorities Law 3951
- State aid: means aid and incentives for municipalities, any successor type of aid and any new aid appropriated by the state as local government assistance for the benefit of the county. See N.Y. Public Authorities Law 3951
- State aid revenues: means state aid paid by the state comptroller to the authority pursuant to this title. See N.Y. Public Authorities Law 3951
- State comptroller: means the comptroller of the state. See N.Y. Public Authorities Law 3951
2. Commencing on the effective date of this title, and until December thirty-first, two thousand thirty-nine, the state comptroller shall pay state aid revenues to the authority.
3. The county shall have no right, title, or interest in county tax revenues or state aid revenues required to be paid to the authority pursuant to this section.