2015 New York Laws
STF - State Finance
Article 15 - (State Finance) EXCELSIOR LINKED DEPOSIT ACT
214 - Establishment and purpose; linked deposit program authorization.

   214.   Establishment   and   purpose;   linked   deposit   program
  authorization.  The excelsior linked deposit program is hereby  created.
  The  purpose  of  the  program  is  to  encourage  and  assist  eligible
  businesses within the state to undertake  eligible  projects  that  will
  materially    contribute    to    improving    their   performance   and
  competitiveness. The comptroller is hereby authorized to use any  moneys
  of the state the comptroller is authorized to invest pursuant to section
  ninety-eight-a  of  this chapter as linked deposits for the program. Not
  more than four hundred sixty million dollars of such moneys shall be  on
  deposit  pursuant  to the program at any given time. The commissioner of
  taxation and finance is hereby authorized to use  funds  in  the  linked
  deposit  program  fund  established  pursuant to section ninety-two-v of
  this chapter as linked deposits for  the  program.  Not  more  than  one
  hundred million dollars from the linked deposit program fund shall be on
  deposit pursuant to the program at any given time.