2012 New York Consolidated Laws
TAX - Tax
Article 31 - (1400 - 1421) REAL ESTATE TRANSFER TAX
1421 - Deposit and dispositions of revenues.

 
    § 1421. Deposit and dispositions of revenues. From the taxes, interest
  and  penalties  attributable  to  the  tax  imposed  pursuant to section
  fourteen hundred  two  of  this  article,  the  amount  of  one  hundred
  ninety-nine million three hundred thousand dollars shall be deposited by
  the   comptroller  in  the  environmental  protection  fund  established
  pursuant to section ninety-two-s of the state finance law for the fiscal
  year beginning April first, two thousand nine; the amount of one hundred
  nineteen million one hundred thousand dollars shall be deposited in such
  fund for the fiscal year beginning April first, two  thousand  ten;  and
  for  each  fiscal  year  thereafter. On or before June twelfth, nineteen
  hundred ninety-five and on or before  the  twelfth  day  of  each  month
  thereafter  (excepting the first and second months of each fiscal year),
  the comptroller shall deposit into such fund from  the  taxes,  interest
  and penalties collected pursuant to such section fourteen hundred two of
  this  article  which have been deposited and remain to the comptroller's
  credit in the banks, banking houses or trust companies  referred  to  in
  section  one  hundred  seventy-one-a  of  this  chapter  at the close of
  business on the last day of the preceding  month,  an  amount  equal  to
  one-tenth  of  the  annual  amount required to be deposited in such fund
  pursuant to this section for the fiscal year in which  such  deposit  is
  required  to  be  made.  In the event such amount of taxes, interest and
  penalties so remaining to the comptroller's  credit  is  less  than  the
  amount  required  to  be  deposited  in such fund by the comptroller, an
  amount equal to the shortfall shall be deposited in  such  fund  by  the
  comptroller  with  subsequent  deposits,  as  soon  as  the  revenue  is
  available. Beginning April first,  nineteen  hundred  ninety-seven,  the
  comptroller  shall  transfer  monthly  to the clean water/clean air fund
  established pursuant to section ninety-seven-bbb of  the  state  finance
  law,  all  moneys  remaining  from  such  taxes,  interest and penalties
  collected that  are  not  required  for  deposit  in  the  environmental
  protection fund.