N.Y. Transportation Law § 457: Regional distribution of petroleum business tax obligations from the dedicated highway and bridge trust fund

§ 457. Regional distribution of petroleum business tax obligations

from the dedicated highway and bridge trust fund. For the period April

first, nineteen hundred ninety-three through March thirty-first,

nineteen hundred ninety-seven, the amount of three billion nine hundred

seventy-five million dollars in projected obligations from the dedicated

highway and bridge trust fund related to deposits made in accordance

with section three hundred one-j of the tax law shall be utilized within

the regions of the state in accordance with the following allocations:

(i) Hudson Valley Region, consisting of the counties of Westchester,

Rockland, Putnam, Dutchess, Columbia, Orange and Ulster Counties;

fourteen percent or up to five hundred fifty-six million five hundred

thousand dollars ($556,500,000);

(ii) Long Island Region, consisting of Nassau and Suffolk Counties;

twenty-three percent or up to nine hundred fourteen million two hundred

fifty thousand dollars ($914,250,000);

(iii) New York City Region, consisting of Richmond, Kings, Queens, New

York and Bronx Counties; twenty-three percent or up to nine hundred

fourteen million two hundred fifty thousand dollars ($914,250,000);

(iv) Upstate region, consisting of all counties of New York state not

included in subparagraphs (i), (ii), and (iii); forty percent or up to

one billion five hundred ninety million dollars; ($1,590,000,000).

In addition, it is the intent of the governor of the state of New

York, the temporary president of the senate and the speaker of the

assembly, on or before June fifteenth, nineteen hundred ninety-three, to

enter into a memorandum of understanding with respect to the

implementation of state and local highway projects to be supported by

dedicated funding pursuant to this chapter. The minority leaders of the

senate and assembly may also enter into such memorandum of

understanding. This memorandum of understanding will be based upon the

dedicated funding provided under the dedicated highway and bridge trust

fund, less required state matches to federal funds.