2006 New York Code - Disposition Of Revenues.

 
    §  11-2059  Disposition of revenues. All taxes, penalties and interest
  imposed by this subchapter, which are collected by the  tax  commission,
  shall  be deposited daily with such responsible banks, banking houses or
  trust companies, as may be designated by the state comptroller,  to  the
  credit  of  the comptroller, in trust for this city. Such deposits shall
  be kept in trust and separate and apart from all  other  monies  in  the
  possession  of  the  comptroller. The comptroller shall require adequate
  security from all such depositories of such revenues  collected  by  the
  tax  commission.  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  in  respect  of  the  taxes  imposed  by  this
  subchapter, and for reasonable costs of  the  state  tax  commission  in
  administering,  collecting and distributing such taxes, out of which the
  comptroller shall pay any refunds of such taxes to which taxpayers shall
  be entitled under the provisions of this  subchapter.  The  comptroller,
  after  reserving  such  refund  and  such  costs shall, on or before the
  twelfth day of each month, pay to the commissioner of finance the  taxes
  penalties  and  interest  imposed  by  this subchapter, collected by the
  state tax  commission  pursuant  to  this  subchapter  during  the  next
  preceding  calendar  month.  The amount so payable shall be certified to
  the comptroller by the president of the state tax commission or  his  or
  her  delegate,  who  shall not be held liable for any inaccuracy in such
  certificate. Where the amount so paid over  to  the  city  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 state tax commission or his or her
  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  the  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 or circumstances.