§ 3864. Intercept of city tax revenues, school district tax revenues\nand state aid revenues.
1.The state comptroller, in accordance with\nsection twelve hundred sixty-one of the tax law, shall pay at least\nmonthly to the authority, (a) for the period beginning upon the\neffective date of this title through June thirtieth, two thousand\nthirty-seven, city tax revenues and, (b) for the period beginning July\nfirst, two thousand four, and ending June thirtieth, two thousand\nthirty-seven, during which the county sets aside net collections for\neducational purposes pursuant to the authority of subdivision (a) of\nsection twelve hundred sixty-two of the tax law, school district tax\nrevenues. During the period beginning on the effective date of this\ntitle through June thirtieth, two thous
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§ 3864. Intercept of city tax revenues, school district tax revenues\nand state aid revenues. 1. The state comptroller, in accordance with\nsection twelve hundred sixty-one of the tax law, shall pay at least\nmonthly to the authority, (a) for the period beginning upon the\neffective date of this title through June thirtieth, two thousand\nthirty-seven, city tax revenues and, (b) for the period beginning July\nfirst, two thousand four, and ending June thirtieth, two thousand\nthirty-seven, during which the county sets aside net collections for\neducational purposes pursuant to the authority of subdivision (a) of\nsection twelve hundred sixty-two of the tax law, school district tax\nrevenues. During the period beginning on the effective date of this\ntitle through June thirtieth, two thousand thirty-seven, the county\nshall impose such taxes pursuant to the authority of subdivision (a) of\nsection twelve hundred ten of the tax law at a rate of no less than\nthree percent. In addition, during such periods, respectively, the state\ncomptroller shall pay to the authority (i) city tax revenues pursuant to\nthe then current agreement under subdivision (c) of section twelve\nhundred sixty-two of the tax law among the county and the cities in the\ncounty and (ii) school district tax revenues; provided however, in the\nevent that such agreement among the county and such cities shall have\nexpired or been terminated during such period, notwithstanding any other\nprovision of general, special or local law to the contrary, the state\ncomptroller shall make such payments of city tax revenues to the\nauthority pursuant to the provisions of paragraph two of subdivision (d)\nof section twelve hundred sixty-two of the tax law.\n 2. Commencing on the effective date of this title, and until June\nthirtieth, two thousand thirty-seven, the state comptroller shall pay\nstate aid revenues to the authority.\n 3. The city shall have no right, title, or interest in the city tax\nrevenues or state aid revenues paid to the authority pursuant to this\nsection; and the school district shall have no right, title, or interest\nin the school district tax revenues paid to the authority pursuant to\nthis section.\n