NY State Fin L § 97-F (2021)
2021 New York Laws STF - State Finance Article 6 - Funds of the State 97-F - Mental Health Services Fund.

§ 97-f. Mental health services fund. 1. There is hereby established in   the  joint  custody  of the comptroller and the commissioner of taxation   and finance a debt service fund  to  be  known  as  the  "mental  health   services fund".2.  The  mental  health  services  fund  shall  consist  of all moneys   received from the mental  hygiene  facilities  improvement  fund  income   account  pursuant to paragraph f of subdivision three of section nine of   the facilities development corporation act and  any  other  moneys  made   available for purposes of the fund.3.  Moneys  in  the mental health services fund shall be kept separate   and shall not be commingled with any other moneys in the custody of  the   comptroller. All deposits of such moneys shall be secured by obligations   of  the United States or of the state of market value equal at all times   to the amount of the deposit and  all  banks  and  trust  companies  are   authorized to give such securities for such deposits.4.  Subject  to  the  terms  of  any  agreement between the facilities   development corporation and the New York state medical  care  facilities   finance  agency  any  moneys  in  the mental health services fund may be   invested by the comptroller in obligations of the United States  or  the   state  or obligations the principal and interest of which are guaranteed   by the United States or the state.5. The comptroller shall from time to time, but in no event later than   the fifteenth day of each month, pay over  for  deposit  in  the  mental   hygiene general fund state operations account, including moneys pursuant   to  subdivision  eight  of this section, all moneys in the mental health   services fund in excess of the amount of money required to be maintained   on deposit in the mental health services fund.  Subject  to  subdivision   nine  of this section, the amount required to be maintained in such fund   shall be (i) twenty percent of the amount of the next payment coming due   relating to the mental health services  facilities  improvement  program   under  any  agreement between the facilities development corporation and   the New York state medical care facilities finance agency multiplied  by   the number of months from the date of the last such payment with respect   to  payments under any such agreement required to be made semi-annually,   plus (ii) those amounts specified in any such agreement with respect  to   payments  required  to  be  made other than semi-annually, including for   variable rate bonds, interest rate exchange  or  similar  agreements  or   other  financing  arrangements  permitted  by law. Concurrently with the   making of any such payment, the facilities development corporation shall   deliver to the comptroller, the director of the budget and the New  York   state  medical  care facilities finance agency a certificate stating the   aggregate amount to be  maintained  on  deposit  in  the  mental  health   services fund to comply in full with the provisions of this subdivision.6. To secure the payment, subject to legislative appropriation, of any   money  due  or  to  become  due  relating  to the mental health services   facilities improvement program in any year under  any  lease,  sublease,   loan  or  other  financing  agreement between the facilities development   corporation and the New  York  state  medical  care  facilities  finance   agency,  or, to pay to the New York state housing finance agency for the   refunding of mental hygiene improvement bonds issued pursuant to section   forty-seven-b of the private housing finance law, as the  case  may  be,   the  comptroller and the commissioner of taxation and finance may pledge   or assign to the New York state medical care facilities finance  agency,   any  or  all  moneys  in  the  mental  health  services fund established   pursuant to this section, and any and all moneys which may  be  received   by  the  commissioner  of  taxation  and finance and the comptroller and   credited to such mental health services fund  in  the  future,  and  any   right,  title  and  interest of the commissioner of taxation and finance    and the comptroller in and to the money in or to be  deposited  in  such   mental health services fund.7. The moneys in the mental health services fund shall be appropriated   and   paid   out  on  audit  and  warrant  of  the  comptroller  on  the   certification of the chairman of the facilities development  corporation   or  such  other  officer  or  employee  or officers or employees as such   comptroller and such chairman shall authorize to make such requisitions.   Payments shall be made to the New York  state  medical  care  facilities   finance  agency  at  least  five  days  prior to the date such agency is   required to make any debt service, interest  rate  exchange  or  similar   agreement,  or  any other financing arrangement payments with respect to   mental health services facilities  improvement  bonds,  notes  or  other   obligations,  or  at  such times as the comptroller and the agency shall   determine.8. The amount of payment on such  mental  health  services  facilities   bonds  pursuant  to  sections  ninety-two-z  and  ninety-two-h  of  this   article, shall be transferred by the state comptroller from  the  mental   health  services fund to the mental hygiene general fund state operation   account. The accumulation of moneys pursuant  to  this  subdivision  and   subsequent  transfer  to the mental hygiene general fund state operation   account shall be subordinate in all respects to payments to be  made  to   the  New  York  state  medical care facilities finance agency and to any   pledge or assignment pursuant to subdivision six of this section.9. In determining the amounts required to be maintained in the  mental   health  services  fund  under  subdivision  five of this section in each   month, the amount of receipts associated with loans,  leases  and  other   agreements  with  voluntary  agencies  accumulated  and set aside in the   mental  hygiene  facilities  improvement  fund  income   account   under   paragraph  g  of  subdivision  three  of  section nine of the facilities   development corporation act shall be taken into account as a credit  but   only  if  such  crediting  does not result in the amounts required to be   maintained in the mental health services fund exclusive of any credit to   be less than the amount required under subdivision five of this  section   in each month.