N.Y. State Finance Law Section 214
Establishment and purpose

  • linked deposit program authorization
The excelsior linked deposit program is hereby created. The purpose of the program is to encourage and assist eligible businesses within the state to undertake eligible projects that will materially contribute to improving their performance and competitiveness. The comptroller is hereby authorized to use any moneys of the state the comptroller is authorized to invest pursuant to § 98-A (Investment of general funds, bond proceeds, and other funds not immediately required)section ninety-eight-a of this chapter as linked deposits for the program. Not more than one billion dollars of such moneys shall be on deposit pursuant to the program at any given time. The commissioner of taxation and finance is hereby authorized to use funds in the linked deposit program fund established pursuant to § 92-V (Linked deposit program fund)section ninety-two-v of this chapter as linked deposits for the program. Not more than one hundred million dollars from the linked deposit program fund shall be on deposit pursuant to the program at any given time.

Source: Section 214 — Establishment and purpose; linked deposit program authorization, https://www.­nysenate.­gov/legislation/laws/STF/214 (updated May 16, 2025; accessed Jun. 21, 2025).

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Verified:
Jun. 21, 2025

Last modified:
May 16, 2025

§ 214. Establishment & purpose's source at nysenate​.gov

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