N.Y. State Finance Law § 99-d: City university stabilization account

* § 99-d. City university stabilization account. 1. There is hereby

established in the joint custody of the state comptroller and the

commissioner of taxation and finance an account to be known as the city

university stabilization account.

2. Such account shall consist of any and all unexpended and

unencumbered moneys in the fiduciary fund appropriated for the city

university of New York senior colleges, net of reductions for

deficiencies in tuition and fee collections as determined by the

director of the budget, available as of the last day of the city

university fiscal year as reduced pursuant to section six thousand two

hundred twenty-one of the education law to reflect any aggregate amount

established by the director of the budget less than the amount

appropriated. Such moneys shall be transferred by the state comptroller

into the stabilization account on or before the next fifteenth day of

September succeeding the last day of the city university fiscal year.

3. Moneys of the account shall only be available to the city

university of New York and following appropriation by the legislature,

shall be credited to the senior colleges and/or central administration

stabilization subaccounts from which the savings were achieved.

Notwithstanding section forty of this chapter, section six thousand two

hundred twenty-one of the education law or any other law to the

contrary, all appropriations made from this account to the city

university of New York shall remain in full force and effect for two

years from the effective date of the chapter in which the appropriations

were made. Moneys shall be paid out of the account on the audit and

warrant of the state comptroller on vouchers certified or approved by

the chancellor of the city university of New York or his or her

designee.

* NB There are 2 § 99-d's