N.Y. State Finance Law § 53-c: Report on financial support of research institutes

§ 53-c. Report on financial support of research institutes. If any

state agency agrees to provide financial support or any other assistance

to cover any operating loss for a research institute, such agency shall

submit to the chairs of the senate committee on finance and the assembly

committee on ways and means a report on the calculation of such loss.

This calculation shall include all revenue of the corporation from

whatever source and all expenses of the corporation. If such calculation

results in an operating surplus, such surplus shall be paid to the state

and may be credited to the budget of the affiliated agency subject to an

appropriation by the legislature.