N.Y. Tax Law § 1148: Deposit and disposition of revenue

§ 1148. Deposit and disposition of revenue. (a) All taxes, interest

and penalties collected or received by the commissioner under this

article shall be deposited and disposed of pursuant to the provisions of

section one hundred seventy-one-a of this chapter; provided however, the

comptroller shall on or before the twelfth day of each month, pay all

such taxes, interest and penalties collected under this article and

remaining to the comptroller's credit in such banks, banking houses or

trust companies at the close of business on the last day of the

preceding month, into the general fund of the state treasury.

(b) Provided however, before the funds may be distributed pursuant to

subdivision (a) of this section, such funds shall be distributed as

otherwise provided in sections ninety-two-d, ninety-two-h, and

ninety-two-r of the state finance law and sections eleven hundred two,

eleven hundred four and eleven hundred nine of this article.

(c) Provided however, after funds are distributed pursuant to

subdivision (b) of this section but before such funds are distributed

pursuant to subdivision (a) of this section, funds shall be deposited by

the comptroller into the New York central business district trust fund

established pursuant to section ninety-nine-ff of the state finance law

in accordance with the following schedule: (1) in state fiscal year two

thousand nineteen - two thousand twenty, one hundred twelve million five

hundred thousand dollars; (2) in state fiscal year two thousand twenty -

two thousand twenty-one, one hundred fifty million dollars; and (3) in

state fiscal year two thousand twenty-one - two thousand twenty-two and

every succeeding state fiscal year, an amount equal to one hundred one

percent of the amount deposited in the immediately preceding state

fiscal year. The funds deposited into the New York central business

district trust fund shall be deposited monthly in equal installments.