N.Y.
State Finance Law Section 79
World Trade Center memorial foundation fund
1.
There is hereby established in the sole custody of the commissioner of taxation and finance a special fund to be known as the “World Trade Center memorial foundation fund”. Monies in the fund shall be kept separate from and not commingled with other funds held in the sole custody of the commissioner of taxation and finance.2.
Such fund shall consist of all revenues received by the department of taxation and finance pursuant to the provisions of sections two hundred nine-F and six hundred thirty-a of the tax law and all other money appropriated, credited, or transferred thereto from any other fund or source pursuant to law. Nothing contained herein shall prevent the state from receiving grants, gifts or bequests for the purposes of the fund as defined in this section and depositing them into the fund according to law. 2-a. On or before the first day of February each year, the chairman of the board of directors of the World Trade Center memorial foundation shall provide a written report to the temporary president of the senate, speaker of the assembly, chair of the senate finance committee, chair of the assembly ways and means committee, the state comptroller and the public. Such report shall include how the monies of the fund were utilized during the preceding calendar year, and shall include:(i)
the amount of money dispersed from the fund and the award process used for such disbursements;(ii)
recipients of awards from the fund;(iii)
the amount awarded to each;(iv)
the purposes for which such awards were granted; and(v)
a summary financial plan for such monies which shall include estimates of all receipts and all disbursements for the current and succeeding fiscal years, along with the actual results from the prior fiscal year.3.
Monies of the fund shall be expended only for costs associated with the construction, installation and operation of the World Trade Center memorial. Monies shall be payable from the fund by the commissioner of taxation and finance on vouchers approved by the chairman of the board of directors of the World Trade Center memorial foundation.
Source:
Section 79 — World Trade Center memorial foundation fund, https://www.nysenate.gov/legislation/laws/STF/79 (updated Apr. 8, 2016; accessed Oct. 26, 2024).
