N.Y. Tax Law § 1167: Deposit and disposition of revenue

§ 1167. Deposit and disposition of revenue. 1. 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, except that after reserving

amounts in accordance with such section one hundred seventy-one-a of

this chapter, the remainder shall be paid by the comptroller to the

credit of the highway and bridge trust fund established by section

eighty-nine-b of the state finance law, provided, however: (a) taxes,

interest and penalties collected or received pursuant to section eleven

hundred sixty-six-a of this article shall be deposited and disposed of

pursuant to subdivision two of this section; and (b) taxes, interest and

penalties collected or received pursuant to section eleven hundred

sixty-six-b of this article shall be paid to the credit of the public

transportation systems operating assistance account established by

section eighty-eight-a of the state finance law.

2. All taxes, interest, and penalties collected or received by the

commissioner pursuant to section eleven hundred sixty-six-a of this

article shall be deposited daily with such responsible banks, banking

houses or trust companies, as may be designated by the comptroller, in

trust for the credit of the metropolitan transportation authority. An

account may be established in one or more of such depositories. Such

deposits will be kept separate and apart from all other money in the

possession of the comptroller. Of the total revenue collected or

received under this article, the comptroller shall retain such amount as

the commissioner may determine to be necessary for refunds under this

article. On or before the twelfth day of each month, after reserving

such amount for such refunds and deducting such amounts for such costs,

the commissioner shall certify to the comptroller the amount of all

revenues received pursuant to this article during the prior month as a

result of the tax imposed, including any interest and penalties thereon.

The amount of revenues so certified over the prior three months in total

shall be paid over by the fifteenth day of the last month of each

calendar quarter from such account, without appropriation, into the

corporate transportation account of the metropolitan transportation

authority special assistance fund established by section twelve hundred

seventy-a of the public authorities law, to be applied as provided in

paragraph (e) of subdivision four of such section.