NY Tax L § 312 (2021)
2021 New York Laws TAX - Tax Article 13-A - Tax on Petroleum Businesses 312 - Deposit and Disposition of Revenue.

§  312.  Deposit and disposition of revenue.-- (a) Except as otherwise provided, of all taxes, interest and penalties collected or received  on or  after  April  first,  two  thousand  one,  from the taxes imposed by section three hundred one-a of this article, (i)  initially  eighty  and three-tenths  percent  shall  be deposited, as prescribed by subdivision (d) of section three hundred one-j of this article and (ii) nineteen and seven-tenths percent shall be  deposited  in  such  mass  transportation operating  assistance  fund  to  the  credit  of  the  metropolitan mass transportation   operating   assistance   account   and    the    public transportation  systems  operating  assistance  account  thereof  in the manner  provided  by  subdivision  eleven   of   section   one   hundred eighty-two-a  of  this  chapter. Provided, further that on or before the twenty-fifth day of each month commencing with April, two thousand  one, the  comptroller  shall  deduct  the  amount  of six hundred twenty-five thousand dollars prior to any  deposit  or  disposition  of  the  taxes, interest,  and  penalties collected or received pursuant to such section three hundred one-a and shall deposit such amount in the dedicated  fund accounts  pursuant  to subdivision (d) of section three hundred one-j of this article. Provided,  further,  that  commencing  January  fifteenth, nineteen hundred ninety-one, and on or before the tenth day of March and the  fifteenth  day of June and September of such year, the commissioner shall, based on information supplied by taxpayers and other  appropriate sources, estimate the amount of the utility credit authorized by section three hundred one-d of this article which has been accrued to reduce tax liability  under section one hundred eighty-six-a of this chapter during the period covered by such estimate and certify to the state comptroller such estimated amount. The comptroller shall forthwith, after  receiving such  certificate,  deduct the amount of such credit so certified by the commissioner prior to any deposit or disposition of the taxes,  interest and  penalties  collected  or  received  pursuant  to such section three hundred one-a and shall pay such amount so certified and  deducted  into the   state   treasury   to  the  credit  of  the  general  fund.  Also, subsequently, during the fiscal year when the commissioner becomes aware of changes or modifications with respect to  actual  credit  usage,  the commissioner  shall,  as  soon  as  practicable,  issue  a certification setting forth the amount of any required adjustment  to  the  amount  of actual   credit   usage   previously   certified.  After  receiving  the certificate of the commissioner with respect to actual credit  usage  or modification of the same, the comptroller shall forthwith adjust general fund receipts and the revenues to be deposited or disposed of under this article  to reflect the difference so certified by the commissioner. The commissioner shall not be liable for any overestimate  or  underestimate of the amount of the utility credit which has been accrued to reduce tax liability  under  such  section  one hundred eighty-six-a. Nor shall the commissioner be liable  for  any  inaccuracy  in  any  certificate  with respect  to  the  amount  of  such  credit actually used or any required adjustment with respect to actual credit  usage,  but  the  commissioner shall  as  soon  as  practicable after discovery of any error adjust the next certification under this section to reflect any such error.   Prior to making deposits as provided in this section, the  comptroller shall  retain  such  amount  as  the  commissioner  may  determine to be necessary, subject to the approval of the director of  the  budget,  for reasonable  costs  of the department in administering and collecting the taxes  deposited  pursuant  to  this  section  and   for   refunds   and reimbursements  with respect to such taxes, out of which the comptroller shall pay any refunds or reimbursements of such taxes to which taxpayers shall be entitled.  (b) Notwithstanding any other provision of law, all  taxes,  interest, and  penalties  collected  or  received  on or after December first, two thousand seventeen from the taxes imposed by section three hundred one-e of this article shall be deposited in the aviation  purpose  account  of the  dedicated  highway  and  bridge  trust  fund established by section eighty-nine-b of the state finance law.