N.Y. State Finance Law § 97-dd: Eminent domain account

§ 97-dd. Eminent domain account. 1. There is hereby established in the

joint custody of the state comptroller and the commissioner of taxation

and finance an eminent domain account.

2. The eminent domain account shall consist of all moneys deposited

pursuant to the provisions of subdivision (E) of section three hundred

four of the eminent domain procedure law, and all other moneys credited

or transferred thereto from any other fund or source pursuant to law.

3. The comptroller shall establish a sub-account for each deposit made

pursuant to the provision of subdivision (E) of section three hundred

four of the eminent domain procedure law.

4. Moneys of the account may be invested by the comptroller in any

obligation in which moneys of the state may be invested pursuant to the

provisions of section ninety-eight-a of this article and the interest

earnings shall be credited to the account.

5. Moneys of the account shall be payable to condemnees or otherwise

expended in accordance with the provisions of subdivision (E) of section

three hundred four of the eminent domain procedure law.