N.Y. State Finance Law 95-G – Department of motor vehicles distinctive plate development fund
§ 95-g. Department of motor vehicles distinctive plate development fund. 1. There is hereby established in the joint custody of the commissioner of taxation and finance and the comptroller, a special fund to be known as the "department of motor vehicles distinctive plate development fund".
Terms Used In N.Y. State Finance Law 95-G
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
2. Such fund shall consist of all revenues received pursuant to the provisions of § 404 of the vehicle and traffic law and all moneys appropriated, credited or transferred thereto from any other fund or source pursuant to law. Nothing contained in this section shall prevent the state from receiving grants, gifts or bequests for the purposes of the fund as defined in this section and depositing them into the fund according to law.
3. Moneys of the fund shall be expended only for the design, production, advertising and distribution of distinctive license plates established pursuant to Article fourteen of the vehicle and traffic law on or after the effective date of this section, provided, however, that such moneys shall first be expended for the costs of designing and producing such distinctive plates. Any revenue derived from the issuance of any specific distinctive plate in excess of the amount necessary for its design and production shall next be expended for the design and production of all other distinctive plates the service charges of which are deposited pursuant to § 404 of the vehicle and traffic law.
4. Moneys shall be payable from the fund on the audit and warrant of the comptroller on vouchers approved by the commissioner of motor vehicles.
5. To the extent practicable, the commissioner of motor vehicles shall ensure that all monies received during a fiscal year are expended prior to the end of that fiscal year.