N.Y. Tax Law § 1210-C — Sales and compensating use tax for purposes of the Schenectady county metroplex development authority

§ 1210-C. Sales and compensating use tax for purposes of the\nSchenectady county metroplex development authority. (a) In addition to\nthe taxes authorized to be imposed by section twelve hundred ten of this\narticle or any other provision of this article, the county of\nSchenectady is hereby authorized and empowered to adopt and amend a\nlocal law, ordinance or resolution imposing within the territorial\nlimits of said county sales and compensating use taxes at a rate which\nis one-half of one percent additional to the three percent rate\nauthorized in section twelve hundred ten of this article for the period\nbeginning on or after September first, nineteen hundred ninety-eight and\nending August thirty-first, two thousand thirty-eight, which taxes shall\nbe identical to the taxes imposed by said county pursuant to section\ntwelve hundred ten of this article. Except as hereinafter provided, all\nprovisions of this article, including the definition and exemption\nprovisions and the provisions relating to the administration, collection\nand distribution by the commissioner, shall apply for purposes of the\ntaxes authorized to be imposed by this section in the same manner and\nwith the same force and effect as if the language of this article had\nbeen incorporated in full in this section and had expressly referred to\nthe taxes authorized to be imposed by this section; provided, however,\nthat any provision of this article relating to a maximum rate shall be\ncalculated without reference to the additional rate authorized by this\nsection. For purposes of part IV of this article, relating to the\ndisposition of revenues resulting from taxes collected and administered\nby the commissioner, the additional sales and compensating use taxes\nauthorized by this section shall be deemed to be imposed under the\nauthority of section twelve hundred ten of this article and all\nprovisions relating to the deposit, administration and disposition of\ntaxes, penalties and interest relating to taxes imposed by a county\nunder the authority of section twelve hundred ten of this article shall,\nexcept as otherwise specifically provided in this section, apply to the\nadditional sales and compensating use tax imposed pursuant to the\nauthority of this section.\n (b) Notwithstanding any other provision of this article to the\ncontrary, the net collections from the tax imposed pursuant to\nsubdivision (a) of this section for the period beginning on or after\nSeptember first, nineteen hundred ninety-eight and ending August\nthirty-first, two thousand thirty-eight shall, upon payment to the\ncounty of Schenectady, be deposited in the Schenectady metroplex\ndevelopment authority support fund, pursuant to subdivision nine of\nsection twenty-six hundred sixty-one of the public authorities law, with\nsuch fund to be designated as a special dedicated support fund, to be\ncreated by said county therefor separate and apart from any other funds\nand accounts of the county. Pending deposit from such Schenectady\nmetroplex development authority support fund into the general fund of\nthe Schenectady metroplex development authority, all moneys therein may\nbe invested in the manner provided in section eleven of the general\nmunicipal law. Any interest earned or capital gain realized on the\nmoneys so deposited or invested shall accrue to and become part of such\nSchenectady metroplex development authority support fund.\n (c) If the county of Schenectady does not impose the one-half of one\npercent rate of taxes authorized by subdivision (a) of this section\nduring the period beginning September first, nineteen hundred\nninety-eight and ending August thirty-first, two thousand thirty-eight,\nthe county shall dedicate net collections from sales and compensating\nuse taxes imposed during such period pursuant to the authority of\nsection twelve hundred ten of this article at the rate of one-half of\none percent and shall quarterly deposit such net collections in the\nSchenectady metroplex development authority support fund established in\naccordance with subdivision (b) of this section.\n (d) On January first, nineteen hundred ninety-nine, and then quarterly\nthereafter, the director of finance of Schenectady county shall transfer\nseventy percent of all net collections from the one-half of one percent\nsales and compensating use tax and deposited in the Schenectady\nmetroplex development authority support fund to the authority for\ndeposit in the authority's general fund. The authority may use such\nportion of such dedicated net collections received for any lawful\npurpose or power of the authority. On January first, nineteen hundred\nninety-nine, and then quarterly thereafter, the director of finance of\nSchenectady county, after transferring seventy percent of such net\ncollections to the authority for deposit in the authority's general\nfund, shall transfer all remaining monies in the Schenectady metroplex\ndevelopment authority support fund to the Schenectady county real\nproperty tax abatement and economic development fund.\n