§ 1270-j. Metropolitan transportation authority commercial gaming revenue fund. 1. The authority shall establish a fund to be known as the "metropolitan transportation authority commercial gaming revenue fund" which shall be kept separate from and shall not be commingled with any other moneys of the authority.

Terms Used In N.Y. Public Authorities Law 1270-J

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization

2. The gaming commission shall deposit into the metropolitan transportation authority commercial gaming revenue fund, without appropriation, the revenue including taxes collected in accordance with the relevant provisions of paragraphs (b), (c), (d) and (e) of subdivision one of section thirteen hundred fifty-two of the racing, pari-mutuel wagering and breeding law and licensing fees collected in accordance with the relevant provisions of subdivision three of section thirteen hundred twenty-one-e of the racing, pari-mutuel wagering and breeding law.

3. Moneys in the fund may be used by the authority for payment of operating costs of or for the authority, the New York city transit authority and their subsidiaries as the authority shall determine, including debt service. Monies in the fund shall not be pledged to secure bonds, notes or other obligations of the authority, the New York city transit authority and their subsidiaries.

4. Nothing contained in this section shall be deemed to restrict the right of the State to amend, repeal, modify or otherwise alter statutes imposing or relating to the taxes, interest and penalties, fees and charges producing revenues for deposit in the metropolitan transportation authority commercial gaming revenue fund or, if applicable, any appropriations relating thereto.

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