N.Y.
Tax Law Section 205
Deposit of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter
1.
(a) From moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter during the period from April first, nineteen hundred eighty-one through March thirty-first, nineteen hundred eighty-two:(i)
the first one hundred million dollars shall be deposited pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter;(ii)
the next seventy-five million dollars shall be deposited in the mass transit operating assistance fund to the credit of the metropolitan mass transit operating assistance account created pursuant to State Finance Law § 88-A (Mass transportation operating assistance fund)section eighty-eight-a of the state finance law; and(iii)
of any amounts in excess of one hundred seventy-five million dollars collected during such period, sixty percent shall be disbursed pursuant to the provisions of clause (i) of this paragraph and forty percent pursuant to clause (ii) of this paragraph.(b)
From moneys collected from taxes imposed by such sections during the period from the first day of April to the thirtieth day of June, nineteen hundred eighty-two an amount, which when added to the amounts deposited to the credit of the metropolitan mass transit operating assistance account pursuant to paragraph (a) of this subdivision, shall total eighty-four million dollars which shall be deposited in such account; and the balance of moneys collected during such period shall be deposited pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter. * 2. Of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article subsequent to June thirtieth, nineteen hundred eighty-two, sixty percent shall be deposited pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter, provided that after April first, nineteen hundred ninety-six, fifty-two percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-seven, fifty and one-half percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-eight, forty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand, thirty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand one but before April first, two thousand four, twenty percent of such moneys collected on or after such date shall be so deposited; and the balance of such collections shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; provided, however, for taxable years commencing on or after January first, nineteen hundred eighty-five and ending on or before December thirty-first, nineteen hundred eighty-nine, all of the moneys collected from the tax imposed by § 184 (Additional franchise tax on transportation and transmission corporations and associations)section one hundred eighty-four of this chapter on corporations, joint-stock companies or associations formed for or principally engaged in the conduct of telephone or telegraph business shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; and provided, further, that the actual amount of moneys from the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article which shall be deposited in such mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account, pursuant to this subdivision, during the twelve month period from April first, nineteen hundred eighty-five, to and including March thirty-first, nineteen hundred eighty-six, shall not be less than sixty million dollars; provided, further, that for the twenty-four month period from April first, nineteen hundred ninety-four, to and including March thirty-first, nineteen hundred ninety-six, of the moneys so collected, sixty percent shall be deposited in the general fund pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter, thirty-four and four-tenths percent shall be deposited in the revenue accumulation fund and five and six-tenths percent shall be deposited in such mass transportation operating assistance fund to the credit of such metropolitan mass transportation operating assistance account. * NB Effective until April 1, 2026 * 2. Of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter subsequent to June thirtieth, nineteen hundred eighty-two, sixty percent shall be deposited pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter, provided that after April first, nineteen hundred ninety-six, fifty-two percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-seven, fifty and one-half percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-eight, forty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand, thirty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand one, twenty percent of such moneys collected on or after such date shall be so deposited; and the balance of such collections shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; provided, however, for taxable years commencing on or after January first, nineteen hundred eighty-five and ending on or before December thirty-first, nineteen hundred eighty-nine, all of the moneys collected from the tax imposed by § 184 (Additional franchise tax on transportation and transmission corporations and associations)section one hundred eighty-four of this chapter on corporations, joint-stock companies or associations formed for or principally engaged in the conduct of telephone or telegraph business shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; and provided, further, that the actual amount of moneys from the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter which shall be deposited in such mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account, pursuant to this subdivision, during the twelve month period from April first, nineteen hundred eighty-five, to and including March thirty-first, nineteen hundred eighty-six, shall not be less than sixty million dollars; provided, further, that for the twenty-four month period from April first, nineteen hundred ninety-four, to and including March thirty-first, nineteen hundred ninety-six, of the moneys so collected, sixty percent shall be deposited in the general fund pursuant to the provisions of § 171-A (Deposit and disposition of revenue)section one hundred seventy-one-a of this chapter, thirty-four and four-tenths percent shall be deposited in the revenue accumulation fund and five and six-tenths percent shall be deposited in such mass transportation operating assistance fund to the credit of such metropolitan mass transportation operating assistance account. * NB Effective April 1, 2026 3. The moneys collected from the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article on and after April first, two thousand thirteen, after reserving amounts for refunds or reimbursements, shall be distributed as follows: twenty percent of such moneys shall be deposited to the credit of the dedicated highway and bridge trust fund established by State Finance Law § 89-B (Dedicated highway and bridge trust fund)section eighty-nine-b of the state finance law, fifty-four percent of such moneys shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account created pursuant to State Finance Law § 88-A (Mass transportation operating assistance fund)section eighty-eight-a of the state finance law and twenty-six percent of such moneys shall be deposited in the mass transportation operating assistance fund to the credit of the public transportation systems operating assistance account created pursuant to State Finance Law § 88-A (Mass transportation operating assistance fund)section eighty-eight-a of the state finance law.
Source:
Section 205 — Deposit of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter, https://www.nysenate.gov/legislation/laws/TAX/205 (updated Mar. 29, 2024; accessed Apr. 27, 2024).
