N.Y. Public Authorities Law 3864 – Intercept of city tax revenues, school district tax revenues and state aid revenues
§ 3864. Intercept of city tax revenues, school district tax revenues and state aid revenues. 1. The state comptroller, in accordance with § 1261 of the tax law, shall pay at least monthly to the authority, (a) for the period beginning upon the effective date of this title through June thirtieth, two thousand thirty-seven, city tax revenues and, (b) for the period beginning July first, two thousand four, and ending June thirtieth, two thousand thirty-seven, during which the county sets aside net collections for educational purposes pursuant to the authority of subdivision (a) of § 1262 of the tax law, school district tax revenues. During the period beginning on the effective date of this title through June thirtieth, two thousand thirty-seven, the county shall impose such taxes pursuant to the authority of subdivision (a) of § 1210 of the tax law at a rate of no less than three percent. In addition, during such periods, respectively, the state comptroller shall pay to the authority (i) city tax revenues pursuant to the then current agreement under subdivision (c) of § 1262 of the tax law among the county and the cities in the county and (ii) school district tax revenues; provided however, in the event that such agreement among the county and such cities shall have expired or been terminated during such period, notwithstanding any other provision of general, special or local law to the contrary, the state comptroller shall make such payments of city tax revenues to the authority pursuant to the provisions of paragraph two of subdivision (d) of § 1262 of the tax law.
Terms Used In N.Y. Public Authorities Law 3864
- City: means the city of Buffalo. See N.Y. Public Authorities Law 3851
- City tax revenues: means the portion of the county's "net collections" as defined in § 1262 of the tax law, payable to the city under the agreement among the county, the city and the cities of Lackawanna and Tonawanda entered into pursuant to the authority of subdivision (c) of § 1262 of the tax law. See N.Y. Public Authorities Law 3851
- Comptroller: means the comptroller of the city. See N.Y. Public Authorities Law 3851
- County: means the county of Erie. See N.Y. Public Authorities Law 3851
- Revenues: means revenues of the authority consisting of city tax revenues, school district tax revenues, state aid revenues, and all other aid, rents, fees, charges, gifts, payments and other income and receipts paid or payable to the authority or a trustee for the account of the authority, to the extent such amounts are pledged to bondholders. See N.Y. Public Authorities Law 3851
- School district tax revenues: means the portion of the county's "net collections" as defined in § 1262 of the tax law, payable to the city's dependent school district by the county pursuant to the authority of subdivision (a) of § 1262 of the tax law. See N.Y. Public Authorities Law 3851
- State: means the state of New York. See N.Y. Public Authorities Law 3851
- State aid: means : all general purpose local government aid; emergency financial assistance to certain cities; emergency financial assistance to eligible municipalities; supplemental municipal aid; and any successor type of aid and any new aid appropriated by the state as local government assistance for the benefit of the city. See N.Y. Public Authorities Law 3851
- State aid revenues: means state aid paid by the state comptroller to the authority pursuant to this title. See N.Y. Public Authorities Law 3851
- State comptroller: means the comptroller of the state. See N.Y. Public Authorities Law 3851
2. Commencing on the effective date of this title, and until June thirtieth, two thousand thirty-seven, the state comptroller shall pay state aid revenues to the authority.
3. The city shall have no right, title, or interest in the city tax revenues or state aid revenues paid to the authority pursuant to this section; and the school district shall have no right, title, or interest in the school district tax revenues paid to the authority pursuant to this section.