N.Y. Tax Law § 515: Disposition of revenues

§ 515. Disposition of revenues. All taxes, interest, penalties and

fees collected or received pursuant to this article shall be deposited

daily in one account with such responsible banks, banking houses or

trust companies as may be designated by the comptroller, and to the

credit of the comptroller on account of the dedicated highway and bridge

trust fund established pursuant to section eighty-nine-b of the state

finance law. Such an account may be established in one or more of such

depositories and such deposits shall be kept separate and apart from all

other moneys in the possession of the comptroller. The comptroller shall

require adequate security from all such depositories.

Of the revenues so deposited, the comptroller shall retain in his

hands such amount as the commissioner of taxation and finance may

determine to be necessary for refunds or reimbursements of the taxes

collected or received pursuant to this article to which taxpayers shall

be entitled under the provisions of this article, out of which amount

the comptroller shall pay any refunds or reimbursements of the taxes

collected or received pursuant to this article to which taxpayers shall

be entitled under such provisions. The comptroller, after reserving the

amount to pay such refunds or reimbursements, shall, on or before the

last day of each month, pay the balance of the revenue so deposited

during such month into the dedicated highway and bridge trust fund

established pursuant to section eighty-nine-b of the state finance law.

Notwithstanding the foregoing or any other law to the contrary, the

comptroller shall deposit all monies collected on account of the

registration fees imposed pursuant to section five hundred two-a and

subdivision eight of section five hundred nine of this article into the

highway use tax administration account established pursuant to section

ninety-nine-y of the state finance law. The monies deposited in such

account shall be available to the commissioner for the costs of issuing

the certificates of registration and highway use tax decals required by

this article and for any other costs of administering the provisions of

sections five hundred two, five hundred two-a and five hundred nine of

this article. Any moneys not used in a given year shall be returned to

such account and be added to the total funds available for disbursement

in the succeeding year.