N.Y. State Finance Law § 79: World Trade Center memorial foundation fund

§ 79. World Trade Center memorial foundation fund. 1. There is hereby

established in the sole custody of the commissioner of taxation and

finance a special fund to be known as the "World Trade Center memorial

foundation fund". Monies in the fund shall be kept separate from and not

commingled with other funds held in the sole custody of the commissioner

of taxation and finance.

2. Such fund shall consist of all revenues received by the department

of taxation and finance pursuant to the provisions of sections two

hundred nine-F and six hundred thirty-a of the tax law and all other

money appropriated, credited, or transferred thereto from any other fund

or source pursuant to law. Nothing contained herein 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.

2-a. On or before the first day of February each year, the chairman of

the board of directors of the World Trade Center memorial foundation

shall provide a written report to the temporary president of the senate,

speaker of the assembly, chair of the senate finance committee, chair of

the assembly ways and means committee, the state comptroller and the

public. Such report shall include how the monies of the fund were

utilized during the preceding calendar year, and shall include:

(i) the amount of money dispersed from the fund and the award process

used for such disbursements;

(ii) recipients of awards from the fund;

(iii) the amount awarded to each;

(iv) the purposes for which such awards were granted; and

(v) a summary financial plan for such monies which shall include

estimates of all receipts and all disbursements for the current and

succeeding fiscal years, along with the actual results from the prior

fiscal year.

3. Monies of the fund shall be expended only for costs associated with

the construction, installation and operation of the World Trade Center

memorial. Monies shall be payable from the fund by the commissioner of

taxation and finance on vouchers approved by the chairman of the board

of directors of the World Trade Center memorial foundation.