2023 New York Laws › STF - State Finance › Article 6 - Funds of the State › 92-FF - Metropolitan Transportation Authority Financial Assistance Fund.

§  92-ff.  Metropolitan  transportation authority financial assistance
fund. 1. There is  hereby  established  in  the  joint  custody  of  the
commissioner of taxation and finance and the state comptroller a special
fund to be known as the "metropolitan transportation authority financial
assistance fund".
2.  Moneys  in  the  metropolitan  transportation  authority financial
assistance  fund  shall  be  kept  separately  from  and  shall  not  be
commingled  with  any  other  moneys in the joint or sole custody of the
state comptroller or the commissioner of taxation and finance.
3. Such fund  shall  consist  of  all  moneys  collected  therefor  or
credited  or transferred thereto from any other fund, account or source.
Any interest received by the comptroller on moneys  on  deposit  in  the
metropolitan transportation authority financial assistance fund shall be
retained in and become a part of such fund.
4. The metropolitan transportation authority financial assistance fund
shall  consist  of two separate and distinct accounts: (a) the "mobility
tax trust account" and (b) the  "metropolitan  transportation  authority
aid  trust  account."  Moneys  in  each  of  the  accounts shall be kept
separately from  and  not  commingled  with  any  other  moneys  in  the
metropolitan transportation authority financial assistance fund.
5.  (a)  The  "mobility  tax  trust  account"  shall consist of moneys
credited or transferred thereto from any fund or source pursuant to law.
(b) Moneys in the "mobility tax  trust  account"  shall,  pursuant  to
appropriation  by  the legislature, be transferred on a monthly basis to
the metropolitan transportation authority finance  fund  established  by
section  twelve  hundred  seventy-h  of  the  public authorities law and
utilized in accordance with said  section.  It  is  the  intent  of  the
legislature  to  enact  two  appropriations  from the mobility tax trust
account  to  the  metropolitan  transportation  authority  finance  fund
established   by   section   twelve  hundred  seventy-h  of  the  public
authorities law. One such appropriation shall be equal  to  the  amounts
expected  to  be available from any monies described in paragraph (a) of
this subdivision during the two thousand eighteen--two thousand nineteen
fiscal year and shall be effective in that fiscal year. The  other  such
appropriation  shall  be  equal  to the amounts expected to be available
from any monies described in paragraph (a) of  this  subdivision  during
the  two  thousand  nineteen--two thousand twenty fiscal year and shall,
notwithstanding the provisions of section forty of  this  chapter,  take
effect  on  the  first  day  of  the two thousand nineteen--two thousand
twenty fiscal year and lapse on the last day of that fiscal year. It  is
the  intent  of  the governor to submit and the legislature to enact for
each fiscal year after the two thousand eighteen--two thousand  nineteen
fiscal  year  in  an  annual  budget  bill: (i) an appropriation for the
amount expected to be available in the mobility tax trust account during
such fiscal year for the metropolitan transportation authority from  any
monies  described  in  paragraph  (a)  of  this subdivision; and (ii) an
appropriation for the amount projected by the director of the budget  to
be deposited in the mobility tax trust account from any monies described
in  paragraph  (a)  of  this  subdivision for the next succeeding fiscal
year. Such  appropriation  for  payment  of  revenues  projected  to  be
deposited  in  the  succeeding  fiscal  year  shall, notwithstanding the
provisions of section forty of this chapter, take effect  on  the  first
day  of  such  succeeding  fiscal year and lapse on the last day of such
fiscal year. If for any fiscal year commencing on or after the first day
of April, two thousand ten the governor fails to submit  a  budget  bill
containing  the foregoing, or the legislature fails to enact a bill with
such provisions, then the metropolitan  transportation  authority  shall
notify  the  comptroller, the director of the budget, the chairperson of

the senate finance committee and the chairperson of  the  assembly  ways
and  means  committee  of  amounts  required  to  be  disbursed from the
appropriation made during the preceding fiscal year for payment in  such
fiscal  year.  In  no event shall the comptroller make any payments from
such appropriation prior to May first of such fiscal  year,  and  unless
and  until  the  director  of  the budget, the chairperson of the senate
finance committee and the chairperson of the  assembly  ways  and  means
committee  have been notified of the required payments and the timing of
such payments to be made from the mobility  tax  trust  account  to  the
metropolitan   transportation  authority  finance  fund  established  by
section twelve hundred seventy-h of the public authorities law at  least
forty-eight  hours  prior  to  any  such  payments.  Until  such time as
payments pursuant to such appropriation are made in  full,  revenues  in
the  mobility  tax  trust  account  shall not be paid over to any person
other than the metropolitan transportation authority.
6. (a) The "metropolitan transportation authority aid  trust  account"
shall  consist  of moneys credited or transferred thereto from any other
source pursuant to law.
(b) Moneys in the  metropolitan  transportation  authority  aid  trust
account  shall, following appropriation by the legislature, be deposited
quarterly by the comptroller into the corporate  transportation  account
of  the  metropolitan  transportation  authority special assistance fund
established  by  section  twelve  hundred  seventy-a   of   the   public
authorities  law,  to  be  applied  as  provided  in  paragraph  (e)  of
subdivision four of such section twelve hundred seventy-a of the  public
authorities law.
7.  Nothing  contained in this section shall be deemed to restrict the
right of the state to amend, repeal, modify or otherwise alter  statutes
imposing  or  relating  to  the  taxes  and  fees producing revenues for
deposit  in  the   metropolitan   transportation   authority   financial
assistance fund or the appropriations relating thereto. The metropolitan
transportation  authority  shall  not  include  within  any  resolution,
contract or agreement with holders of the bonds or  notes  issued  under
section  twelve  hundred  sixty-nine  of  the public authorities law any
provision which provides that a default occurs as a result of the  state
exercising  its  right  to amend, repeal, modify or otherwise alter such
taxes or appropriations.