N.Y. State Finance Law § 92-gg: Charitable gifts trust fund

* § 92-gg. Charitable gifts trust fund. 1. There is hereby established

in the joint custody of the commissioner of taxation and finance and the

state comptroller a special fund pursuant to section eleven of this

chapter to be known as the "charitable gifts trust fund".

2. Moneys in the charitable gifts trust fund shall be kept separate

from and shall not be commingled with any other moneys in the custody of

the comptroller or the commissioner of taxation and finance. Provided,

however that any moneys of the fund not required for immediate use may,

at the discretion of the comptroller, in consultation with the director

of the budget, be invested by the comptroller in obligations of the

United States or the state. The proceeds of any such investment shall be

retained by the fund as assets to be used for purposes of the fund.

3. Except as set forth in subdivisions two and four of this section,

no moneys from the charitable gifts trust fund shall be transferred to

any other fund, nor shall moneys from the fund be used to make payments

for any purpose other than the purposes set forth in subdivisions two

and four of this section.

4. The charitable gifts trust fund shall have two separate and

distinct accounts, as set forth in paragraphs a and b of this

subdivision. Moneys in each of the accounts shall be kept separate from

and shall not be commingled with any other moneys of any other account

within the fund.

a. The "health charitable account" shall consist of monetary grants,

gifts or bequests received by the state, and all other moneys credited

or transferred thereto from any other fund or source. Moneys of such

account shall only be expended for the support of services relating to

primary, preventive, and inpatient health care, dental and vision care,

hunger prevention and nutritional assistance, and other services for New

York state residents with the overall goal of ensuring that New York

state residents have access to quality health care and other related

services.

b. The "elementary and secondary education charitable account" shall

consist of monetary grants, gifts or bequests received by the state for

the support of elementary and secondary education of children enrolled

in public school districts in the state and all other moneys credited or

transferred thereto from any other fund or source. Moneys of such

account shall only be expended for the provision of elementary and

secondary education of children in the state.

* NB There are 2 § 92-gg's