N.Y. Public Housing Law § 112: Disposition of proceeds of taxes

§ 112. Disposition of proceeds of taxes. Notwithstanding the

provisions of any general, special or local law to the contrary,

revenues heretofore or hereafter resulting from the imposition of taxes

authorized by this article for either or both of the purposes referred

to in section one hundred ten of this article, other than the taxes

described in subdivision (e) of such section in a city having a

population of one million or more, shall be deposited in the city or

village treasury and credited to a separate account. During each fiscal

year of such city or village, an amount not in excess of the amount

included in the annual budget or estimate for such fiscal year for the

purpose or purposes for which such taxes were levied shall be charged to

such account and credited to the general fund for the reduction of

taxation or into the general or other fund available for current

expenses of such city or village. No other payment shall be made from

such an account or accounts. In a city having a population of one

million or more, the revenues from the taxes described in subdivision

(e) of section one hundred ten of this article shall be deposited in the

general fund and a payment of an equal amount shall be made, in the same

fiscal year or as soon as practicable thereafter for the purposes

described in such section.