N.Y.
State Finance Law Section 97-UUU*2
Transportation infrastructure bond fund
1.
There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a special fund to be known as the “transportation infrastructure bond fund.” 2. The comptroller shall establish at least three separate and distinct accounts within the transportation infrastructure bond fund as follows, which shall include the following:(a)
an account containing all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to subdivision a of section four of the Transportation Infrastructure Bond Act of 2000, enacted by a chapter of the laws of two thousand;(b)
an account containing all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to subdivision b of section four of the Transportation Infrastructure Bond Act of 2000, enacted by a chapter of the laws of two thousand; and(c)
an account containing all moneys received by the state from the sale of bonds and/or notes for uses eligible pursuant to subdivision c of section four of the Transportation Infrastructure Bond Act of 2000, enacted by a chapter of the laws of two thousand.3.
Moneys in any account of this fund, following appropriation by the legislature and allocation by the director of the budget, shall be available only for reimbursement of expenditures made from appropriations from the capital projects fund for the purpose of the transportation infrastructure bond fund, as set forth in the Transportation Infrastructure Bond Act of 2000.4.
No moneys received by the state from the sale of bonds and/or notes sold pursuant to the Transportation Infrastructure Bond Act of 2000 shall be expended for any project until funds therefor have been allocated pursuant to the provisions of this section and copies of the appropriate certificates of approval filed with the chairman of the senate finance committee, the chairman of the assembly ways and means committee and the state comptroller. * NB Not effective due to defeat of the Transportation Bond Act of 2000. * NB There are 2 § 97-uuu’s
Source:
Section 97-UUU*2 — Transportation infrastructure bond fund, https://www.nysenate.gov/legislation/laws/STF/97-UUU*2 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
