N.Y. State Finance Law § 97-eeee: Rebuild and renew New York transportation bond fund

* § 97-eeee. Rebuild and renew New York transportation bond 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 "rebuild and renew New York transportation bond

fund."

2. The comptroller shall establish at least two separate and distinct

accounts within the rebuild and renew New York transportation bond fund

as follows, which shall include the following: (a) an account containing

all moneys received by the state from the sale of bonds and/or notes for

uses eligible pursuant to subdivision a of section four of the rebuild

and renew New York transportation bond act of two thousand five, enacted

by a chapter of the laws of two thousand five; and (b) an account

containing all moneys received by the state from the sale of bonds

and/or notes for uses eligible pursuant to subdivision b of section four

of the rebuild and renew New York transportation bond act of two

thousand five, enacted by a chapter of the laws of two thousand five.

3. 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 purpose of the

rebuild and renew New York transportation bond fund, as set forth in the

rebuild and renew New York transportation bond act of two thousand five.

4. No moneys received by the state from the sale of bonds and/or notes

sold pursuant to the rebuild and renew New York transportation bond act

of two thousand five shall be expended for any project until funds

therefor have been allocated pursuant to the provisions of this section

and copies of the appropriate certificates of approval filed with the

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

and means committee and the state comptroller.

* NB There are 3 § 97-eeee's