2006 New York Code - Deposit And Disposition Of Revenue.

 
  §  11-2031  Deposit  and  disposition of revenue. (a) The tax commission
  shall deposit daily to the credit of the comptroller, in trust for  this
  city,  all taxes, penalties and interest collected under this subchapter
  in a responsible  bank,  banking  house  or  trust  company  as  may  be
  designated  by  the  comptroller. The comptroller shall require adequate
  security from all such depositories. Of the revenue collected under this
  subchapter the comptroller shall retain in his or her hands such  amount
  as  the  commissioner  of  taxation  and  finance  may  determine  to be
  necessary for refunds under this subchapter and for reasonable costs  of
  the  tax  commission  in  administering, collecting and distributing the
  taxes under this subchapter, out of which the comptroller shall pay  any
  refunds  made  under the provisions of this subchapter. The comptroller,
  after reserving such refund fund and such costs, shall on or before  the
  twelfth  day  of  each month, pay to the commissioner of finance of this
  city all taxes, interest and penalties collected under  this  subchapter
  and  remaining to the comptroller's credit in such banks, banking houses
  or trust companies at the close of business  on  the  last  day  of  the
  preceding  month,  provided,  however,  that the comptroller shall on or
  before the last  day  of  June  and  December  make  a  partial  payment
  consisting  of  the  collections  made  during  and  including the first
  twenty-five days of said months to the commissioner of finance  of  this
  city. The amount so payable shall be certified to the comptroller by the
  president  of the tax commission or such president's delegate, who shall
  not be held liable for any inaccuracy in  such  certificate.  Where  the
  amount  so  paid  over in any such distribution is more or less than the
  amount  then  due  to  the  city,  the  amount  of  the  overpayment  or
  underpayment  shall  be certified to the comptroller by the president of
  the tax commission or such president's delegate who shall  not  be  held
  liable  for  any  inaccuracy  in  such  certificate.  The  amount of the
  overpayment or underpayment shall be so certified to the comptroller  as
  soon   after  the  discovery  of  the  overpayment  or  underpayment  as
  reasonably possible and subsequent payments  and  distributions  by  the
  comptroller  to this city shall be adjusted by subtracting the amount of
  any  such  overpayment  from  or  by  adding  the  amount  of  any  such
  underpayment  to such number of subsequent payments and distributions as
  the comptroller and the president of  the  state  tax  commission  shall
  consider  reasonable  in  view  of  the  amount  of  the  overpayment or
  underpayment and all other facts and circumstances.
    (b)  All  payments  to  the  commissioner  of  finance   pursuant   to
  subdivision  (a)  of  this section shall be credited to and deposited in
  the general fund of this city, but no such part of such revenues may  be
  expended unless appropriated in the annual budget of this city.