N.Y. Public Authorities Law § 1270-j: Metropolitan transportation authority commercial gaming revenue fund

§ 1270-j. Metropolitan transportation authority commercial gaming

revenue fund. 1. The authority shall establish a fund to be known as the

"metropolitan transportation authority commercial gaming revenue fund"

which shall be kept separate from and shall not be commingled with any

other moneys of the authority.

2. The gaming commission shall deposit into the metropolitan

transportation authority commercial gaming revenue fund, without

appropriation, the revenue including taxes collected in accordance with

the relevant provisions of paragraphs (b), (c), (d) and (e) of

subdivision one of section thirteen hundred fifty-two of the racing,

pari-mutuel wagering and breeding law and licensing fees collected in

accordance with the relevant provisions of subdivision three of section

thirteen hundred twenty-one-e of the racing, pari-mutuel wagering and

breeding law.

3. Moneys in the fund may be used by the authority for payment of

operating costs of or for the authority, the New York city transit

authority and their subsidiaries as the authority shall determine,

including debt service. Monies in the fund shall not be pledged to

secure bonds, notes or other obligations of the authority, the New York

city transit authority and their subsidiaries.

4. Nothing contained in this section shall be deemed to restrict the

right of the State to amend, repeal, modify or otherwise alter statutes

imposing or relating to the taxes, interest and penalties, fees and

charges producing revenues for deposit in the metropolitan

transportation authority commercial gaming revenue fund or, if

applicable, any appropriations relating thereto.