NY Tax L § 1569 (2021)
2021 New York Laws TAX - Tax Article 33-B - Tax on Real Estate Tranfers in Towns 1569 - Deposit and Disposition of Revenue.

§  1569.  Deposit  and disposition of revenue. 1. All taxes, penalties   and interest imposed by the designated community under the authority  of   section  fifteen  hundred sixty-one of this article, which are collected   by the treasurer or his or her agents, shall be deposited  in  a  single   trust  fund  for the designated community and shall be kept in trust and   separate and apart from all other monies in possession of the treasurer.   Moneys in such fund  shall  be  deposited  and  secured  in  the  manner   provided   by   section  ten  of  the  general  municipal  law.  Pending   expenditure from such fund, moneys therein may be invested in the manner   provided in section eleven of the general municipal  law.  Any  interest   earned  or  capital gain realized on the moneys so deposited or invested   shall accrue to and become part of such fund.2. The treasurer shall retain such amount as he or she  may  determine   to  be  necessary  for  refunds  with  respect to the tax imposed by the   designated community, under the authority  of  section  fifteen  hundred   sixty-one  of  this  article,  out  of which the treasurer shall pay any   refunds of such taxes to those taxpayers entitled to a  refund  pursuant   to the provisions of this article.3. The treasurer, after reserving such refunds, shall on or before the   twelfth  day  of  each  month pay to the designated community the taxes,   penalties and interest imposed by the  designated  community  under  the   authority   of  section  fifteen  hundred  sixty-one  of  this  article,   collected by the treasurer, pursuant to this  article  during  the  next   preceding  calendar  month.  The amount so payable shall be certified to   the designated community by the treasurer, who shall not be held  liable   for  any  inaccuracy  in such certification. Provided, however, any such   certification may be based on such information as may  be  available  to   the  treasurer  at  the  time such certification must be made under this   section. Where the amount so paid over to the  designated  community  in   any  such  distribution  is  more  or  less  than  the amount due to the   designated community, the amount  of  the  overpayment  or  underpayment   shall  be  certified  to  the designated community by the treasurer, who   shall not be held liable for any inaccuracy in such  certification.  The   amount  of  the overpayment or underpayment shall be so certified to the   designated community as soon after the discovery of the  overpayment  or   underpayment   as   reasonably  possible  and  subsequent  payments  and   distributions by the treasurer to such  designated  community  shall  be   adjusted  by  subtracting  the amount of any such overpayment from or by   adding the amount of any such underpayment to such number of  subsequent   payments  and  distributions  as  the treasurer and designated community   shall consider reasonable in view of the overpayment or underpayment and   all other facts and circumstances.4. All monies received from the treasurer shall be  deposited  in  the   fund  of  the  designated  community,  pursuant  to section six-s of the   general municipal law.