2016 New York Laws
RRD - Railroad
Article 5 - (Railroad) STREET SURFACE RAILROADS
175 - Percentage of gross receipts to be paid in cities or villages; report of officers.

  175. Percentage of gross receipts to be paid in cities or villages;
  report of officers. Every corporation building or operating  a  railroad
  or branch or extension thereof, under the provisions of this article, or
  of chapter two hundred and fifty-two of the laws of eighteen hundred and
  eighty-four,  within any city of the state having a population of twelve
  hundred thousand or more, shall, for and during  the  first  five  years
  after  the  commencement of the operation of any portion of its railroad
  annually, on November first, pay into the treasury of the city in  which
  its  road  is  located, to the credit of the sinking fund thereof, three
  per centum of  its  gross  receipts  for  and  during  the  year  ending
  September  thirtieth  next  preceding;  and after the expiration of such
  five years, make a like annual payment into the treasury of the city  to
  the  credit  of the same fund, of five per centum of its gross receipts.
  If a street surface railroad corporation existing and operating any such
  railroad  in  any  such  city  on  May  sixth,  eighteen   hundred   and
  eighty-four,  shall  have  thereafter extended its tracks or constructed
  branches therefrom, and shall operate such branches or extensions  under
  the  provisions  of  chapter  two  hundred  and fifty-two of the laws of
  eighteen hundred and eighty-four, or of this article,  such  corporation
  shall pay such percentages only upon such portions of its gross receipts
  as  shall  bear  the  same proportion to its whole gross receipts as the
  length of such extension or branches shall bear to the entire length  of
  its   line.  In  any  other  incorporated  city  or  village  the  local
  authorities shall have the right to require, as  a  condition  to  their
  consent  to the construction, operation or extension of a railroad under
  the provisions of this article, the payment annually of such  percentage
  of  gross receipts, not exceeding three per centum, into the treasury of
  the city or village as they may deem proper. In case  of  extension  the
  amount  to  be  paid  shall  be  ascertained  in  the  manner heretofore
  provided. The corporation failing to pay such percentage  of  its  gross
  earnings  shall,  after November first, pay in addition thereto five per
  centum a  month  on  such  percentage  until  paid.  The  president  and
  treasurer  of any corporation required by the provisions of this article
  to make a payment annually upon its gross receipts shall, on  or  before
  November  first  in each year, make a verified report to the comptroller
  or chief fiscal officer of the city of the gross amount of its  receipts
  for  the  year ending September thirtieth, next preceding, and the books
  of such corporation shall be open to inspection and examination by  such
  comptroller  or officer, or his duly appointed agent, for the purpose of
  ascertaining the correctness of its report as  to  its  gross  receipts.
  The  corporate  rights,  privileges  and  franchises acquired under this
  article or such chapter by any corporation, which shall fail  to  comply
  with  all  the  provisions  of  this  section, shall be forfeited to the
  people of the state, and upon judgment  of  forfeiture  rendered  in  an
  action  brought in the name of the people by the attorney-general, shall
  cease and determine.