N.Y.C. Admin. Code § 11-1216: § 11-1216 Disposition of revenues.

a. All revenues resulting from the imposition of the tax under this chapter at race meeting grounds or enclosures located wholly within the city of New York shall be credited and deposited in the general fund of the city.

b. All revenues resulting from the imposition of the tax under this chapter at race meeting grounds or enclosures situated in two counties, only one of which is wholly located within the city of New York, shall be deposited in a special fund, and seventy-five percent of the moneys in such special fund shall, within sixty days after collection thereof by the city, be paid to the county not located within the city of New York, less the expenses for collection of such tax and except that the sum of five thousand dollars shall be retained at all times in such special fund for the purpose of making refunds or any necessary adjustments. The balance then remaining in such special fund shall be paid into the general fund of the city of New York.