N.Y. Tax Law § 1201-d: Dedication of taxes authorized for cities and counties

§ 1201-d. Dedication of taxes authorized for cities and counties. (a)

Notwithstanding any other provision of law to the contrary, any

authorization for a city or county to impose a tax pursuant to this

article, may condition such authorization upon the dedication of such

revenue derived from such tax imposed, to a public benefit corporation

established as an industrial development agency or an area

revitalization agency pursuant to article eighteen-A of the general

municipal law or to a public authority established for economic

development or transportation purposes pursuant to the public

authorities law.

(b) In the event that a city or a county imposes a tax pursuant to

this article, in accordance with a conditional authorization as

described in subdivision (a) of this section, such city or county shall

dedicate the revenue from such tax so imposed to the designated public

benefit corporation established as an industrial development agency or

an area revitalization agency pursuant to article eighteen-A of the

general municipal law or public authority established for economic

development or transportation purposes pursuant to the public

authorities law.