N.Y. Tax Law § 1263: Deposit of funds and use of funds not having assigned purposes

§ 1263. Deposit of funds and use of funds not having assigned

purposes. (a) Deposit and use of net collections from taxes imposed by

cities of over one million administered and collected by state tax

commission. Net collections paid to the director of finance of the city

of New York and any other appropriate fiscal officer of any city having

a population of over one million, as provided for in section twelve

hundred sixty-one, shall be deposited by such fiscal officer in the

general fund of such city, but no part of such revenues may be expended

by such city unless appropriated in the annual budget of such city.

(b) Deposit and use of net collections by cities, counties and

villages. Net collections received by or distributed to a county, a city

with a population of less than one million or a village from taxes

imposed pursuant to this article shall be paid into the treasury of the

county, city or village and shall be credited to and deposited in the

general fund thereof and, unless restricted by local law, ordinance or

resolution to a specified purpose or purposes, shall be available for

any county, city or village purpose of such county, city or village.

Expenditures from the proceeds of any such tax shall not be considered

as part of the cost of government within the meaning of any limitation

on expenditures contained in any general, special or local law

applicable to such county, city or village.