NY RR L § 175 (2021)
2021 New York Laws RRD - Railroad Article 5 - 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.