N.Y. Tax Law § 805 — Deposit and disposition of revenue

§ 805. Deposit and disposition of revenue. (a) The taxes, interest,\nand penalties imposed by this article and collected or received by the\ncommissioner shall be deposited daily with such responsible banks,\nbanking houses or trust companies, as may be designated by the\ncomptroller, to the credit of the comptroller in trust for the\nmetropolitan transportation authority. An account may be established in\none or more of such depositories. Such deposits will be kept separate\nand apart from all other money in the possession of the comptroller. The\ncomptroller shall require adequate security from all such depositories.\nOf the total revenue collected or received under this article, the\ncomptroller shall retain such amount as the commissioner may determine\nto be necessary for refunds under this article. The commissioner is\nauthorized and directed to deduct from the amounts it receives under\nthis article, before deposit into the trust accounts designated by the\ncomptroller, a reasonable amount necessary to effectuate refunds of\nappropriations of the department to reimburse the department for the\ncosts incurred to administer, collect and distribute the taxes imposed\nby this article.\n (b) On or before the twelfth and twenty-sixth day of each succeeding\nmonth, after reserving such amount for such refunds and deducting such\namounts for such costs, as provided for in subsection (a) of this\nsection, the commissioner shall certify to the comptroller the amount of\nall revenues so received during the prior month as a result of the\ntaxes, interest and penalties so imposed. The amount of revenues so\ncertified shall be paid over by the fifteenth and the final business day\nof each succeeding month from such account without appropriation into\nthe metropolitan transportation authority finance fund established\npursuant to section twelve hundred seventy-h of the public authorities\nlaw, provided, however, that the comptroller shall ensure that any\npayments to the metropolitan transportation authority finance fund which\nare due to be paid by the final business day in the month of December\npursuant to this subsection shall be received by the metropolitan\ntransportation authority finance fund on the same business day in which\nit is paid.\n