NY Tax L § 1333 (2021)
2021 New York Laws TAX - Tax Article 30-A - City Income Tax Surcharge 1333 - Deposit and Disposition of Revenues.

§  1333. Deposit and disposition of revenues. All revenue collected by   the commissioner of taxation and finance from the  tax  imposed  by  any   city  pursuant  to  the authority of this article or article thirty-B of   this chapter shall be  deposited  daily  with  such  responsible  banks,   banking  houses  or  trust  companies, as may be designated by the state   comptroller, to the credit of the comptroller, in trust for  such  city.   Such  deposits  shall  be  kept in trust and separate and apart from all   other moneys in the possession of the comptroller. The comptroller shall   require adequate security from all such  depositories  of  such  revenue   collected  by  the commissioner of taxation and finance. The comptroller   shall retain in his hands such amount as the  commissioner  of  taxation   and  finance may determine to be necessary for refunds in respect to the   tax imposed by such city pursuant to the authority of  this  article  or   article  thirty-B  of  this  chapter  and  for  reasonable  costs of the   commissioner of taxation and finance in  administering,  collecting  and   distributing  such  taxes,  out  of  which the comptroller shall pay any   refunds of such taxes to which the taxpayer shall be entitled under  any   law  enacted  by  such city pursuant to the authority of this article or   article thirty-B of this chapter. The comptroller, after reserving  such   refund  fund and such cost shall, on or before the fifteenth day of each   month, pay to the chief fiscal officer of such city the balance of  such   taxes collected, to be paid into the treasury of such city to the credit   of  the general fund except that he shall pay to the state department of   social services that amount of overpayments of the tax imposed  by  such   city  pursuant  to  the authority of this article or article thirty-B of   this chapter and the interest on such amount which is certified  to  him   by the commissioner of taxation and finance as the amount to be credited   against  past-due  support  pursuant  to  subdivision six of section one   hundred seventy-one-c of this chapter and except that he  shall  pay  to   the  New York state higher education services corporation that amount of   overpayments of the tax imposed by such city pursuant to  the  authority   of  this article or article thirty-B of this chapter and the interest on   such amount which is certified to him by the  commissioner  of  taxation   and  finance as the amount to be credited against the amount of defaults   in repayment of guaranteed student loans pursuant to subdivision five of   section one hundred seventy-one-d of this chapter  and  except  that  he   shall  pay to the state university of New York or the city university of   New York respectively that amount of overpayments of the tax imposed  by   such  city pursuant to the authority of this article or article thirty-B   of this chapter and the interest on such amount which  is  certified  to   him  by  the  commissioner  of  taxation and finance as the amount to be   credited against the amount of defaults in repayment of  state  or  city   university  loans  pursuant  to  subdivision  six of section one hundred   seventy-one-e of this chapter and except that, notwithstanding any other   provision of law, he shall credit  to  the  revenue  arrearage  account,   pursuant  to  section ninety-one-a of the state finance law, that amount   of overpayments of the taxes imposed pursuant to the authority  of  this   article  or  article  thirty-B  of this chapter and the interest on such   amount which is certified to him by the  commissioner  of  taxation  and   finance  as  the  amount  to  be  credited  against  a  past-due legally   enforceable debt owed to a state agency pursuant  to  paragraph  (a)  of   subdivision  six  of  section one hundred seventy-one-f of this chapter,   provided, however, he shall  credit  to  the  special  offset  fiduciary   account,  pursuant to section ninety-one-c of the state finance law, any   such amount creditable as a liability as set forth in paragraph  (b)  of   subdivision six of section one hundred seventy-one-f of this chapter and   except  that  he  shall  pay  to  the  city  of  New York that amount of   overpayments of tax imposed pursuant to the authority of this article or    article thirty-B of this chapter and the interest on such  amount  which   is  certified  to him by the commissioner of taxation and finance as the   amount to be credited against city of New York tax warrant judgment debt   pursuant  to  section  one  hundred  seventy-one-l  of this chapter, and   except further that he/she shall pay  to  a  non-obligated  spouse  that   amount  of  overpayment  of  tax  imposed  by  such city pursuant to the   authority of this article or article thirty-B of this  chapter  and  the   interest  on such amount which has been credited pursuant to section one   hundred  seventy-one-c,   one   hundred   seventy-one-d,   one   hundred   seventy-one-e, one hundred seventy-one-f or one hundred seventy-one-l of   this  chapter  and  which  is  certified  to  him by the commissioner of   taxation and  finance  as  the  amount  due  such  non-obligated  spouse   pursuant  to  paragraph  six  of  subsection  (b) of section six hundred   fifty-one of this chapter, and he shall deduct a like  amount  which  he   shall  pay  into  the  treasury  to  the credit of the general fund from   amounts subsequently payable to the department of social  services,  the   state  university  of  New York, the city university of New York, or the   higher education  services  corporation  or  to  the  revenue  arrearage   account   or  special  offset  fiduciary  account  pursuant  to  section   ninety-one-a or ninety-one-c of the state finance law, as the  case  may   be, whichever had been credited the amount originally withheld from such   overpayment.  The  amount  deducted  for  administering,  collecting and   distributing such taxes during such monthly period shall be paid by  the   comptroller into the general fund of the state treasury to the credit of   the  state  purposes  account  therein.  The first payment to such chief   fiscal officer shall be made on  or  before  March  fifteenth,  nineteen   hundred  eighty-five,  which  payment  shall  represent  the  balance of   revenue after provision for  refund  and  such  reasonable  costs,  with   respect  to  taxes collected in nineteen hundred eighty-four. Subsequent   payments shall be made on or before April  fifteenth,  nineteen  hundred   eighty-five, and on or before the fifteenth day of each succeeding month   thereafter,  and  shall represent the balance of revenue with respect to   taxes collected the preceding calendar months. The  amounts  so  payable   shall  be  certified  to the comptroller by the commissioner of taxation   and finance or his delegate, either of whom shall not be held liable for   any inaccuracy in such certificate. Where the amount  so  paid  over  to   such  chief fiscal officer is more or less than the amount then due such   city, the amount of overpayment or underpayment shall  be  certified  to   the  comptroller  by  the  commissioner  of  taxation and finance or his   delegate, either of whom shall not be held liable for any inaccuracy  in   such  certificate. The amount of overpayment or underpayment shall be so   certified to  the  comptroller  as  soon  after  the  discovery  of  the   overpayment  or  underpayment  as  reasonably  possible  and  subsequent   payments by the comptroller  to  such  chief  fiscal  officer  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 comptroller and the commissioner of   taxation and finance shall consider reasonable in view of the amount  of   the overpayment or underpayment and all other facts and circumstances.