2015 New York Laws
VAT - Vehicle & Traffic
Title 7 - RULES OF THE ROAD
Article 24 - (1110 - 1117) TRAFFIC SIGNS, SIGNALS AND MARKINGS
1113 - Flashing signal indications.

 1113. Flashing signal indications. Whenever traffic is controlled by
  a  flashing signal used in a traffic sign or signal, only the colors red
  and yellow shall be used, and said signals shall indicate and  apply  to
  drivers of vehicles as follows:
(a)   Flashing  red  indications.  Unless  to  make  another  movement
  permitted by other indications shown at the same time, vehicular traffic
  facing a circular red  signal  or  red  arrow  with  rapid  intermittent
  flashes  shall  stop  at  a  clearly marked stop line, but if none, then
  shall stop before entering  the  crosswalk  on  the  near  side  of  the
  intersection,  or  in  the  event  there  is  no crosswalk, at the point
  nearest the  intersecting  roadway  where  the  driver  has  a  view  of
  approaching  traffic  on  the  intersecting  roadway before entering the
  intersection and the right to proceed shall  be  subject  to  the  rules
  applicable after making a stop at a stop sign.
(b)  Flashing  yellow indications. Vehicular traffic facing a circular
  yellow signal or  yellow  arrow  with  rapid  intermittent  flashes  may
  proceed through the intersection or past such signal only with caution.
(c) Flashing red arrows and flashing yellow arrow indications have the
  same  meaning as the corresponding flashing circular indications, except
  that they apply only to  drivers  of  vehicles  intending  to  make  the
  movement indicated by the arrow.
(d)  This section shall not apply at railroad grade crossings. Conduct
  of drivers of vehicles approaching railroad  grade  crossings  shall  be
  governed  by the rules as set forth in section eleven hundred seventy of
  this title.