N.Y. State Finance Law § 74: Transportation infrastructure renewal fund

§ 74. Transportation infrastructure renewal fund. 1. There is hereby

established in the joint custody of the state comptroller and the

commissioner of taxation and finance a special fund, to be known as the

"transportation infrastructure renewal fund".

2. The comptroller shall establish three separate and distinct

accounts within the transportation infrastructure renewal fund: (a) the

highway, parkway and bridge account; (b) the ports and waterways

account; and (c) the transit, rail and aviation account.

3. All moneys received by the state from the sale of bonds or notes

for the purposes enumerated in paragraph a of subdivision three of

section one of a chapter of the laws of nineteen hundred eighty-three

enacting and constituting the Rebuild New York Through Transportation

Infrastructure Renewal Bond Act of 1983 shall be deposited by the

comptroller in the highway, parkway and bridge account established by

the comptroller pursuant to the provisions of subdivision two of this

section.

4. All moneys received by the state from the sale of bonds or notes

for the purposes enumerated in paragraph b of subdivision three of

section one of a chapter of the laws of nineteen hundred eighty-three

enacting and constituting the Rebuild New York Through Transportation

Infrastructure Renewal Bond Act of 1983 shall be deposited by the

comptroller in the ports and waterways account established by the

comptroller pursuant to the provisions of subdivision two of this

section.

5. All moneys received by the state from the sale of bonds or notes

for the purposes enumerated in paragraph c of subdivision three of

section one of a chapter of the laws of nineteen hundred eighty-three

enacting and constituting the Rebuild New York Through Transportation

Infrastructure Renewal Bond Act of 1983 shall be deposited by the

comptroller in the transit, rail and aviation account established by the

comptroller pursuant to the provisions of subdivision two of this

section.

6. Moneys in any account of this fund, following appropriation by the

legislature and allocation by the director of the budget, shall be

available only for reimbursement of expenditures made from

appropriations from the capital projects fund for the purposes of such

fund, as set forth in the Rebuild New York Through Transportation

Infrastructure Renewal Bond Act of 1983.