§ 112 — Disposition of proceeds of taxes

§ 112. Disposition of proceeds of taxes. Notwithstanding the\nprovisions of any general, special or local law to the contrary,\nrevenues heretofore or hereafter resulting from the imposition of taxes\nauthorized by this article for either or both of the purposes referred\nto in section one hundred ten of this article, other than the taxes\ndescribed in subdivision (e) of such section in a city having a\npopulation of one million or more, shall be deposited in the city or\nvillage treasury and credited to a separate account. During each fiscal\nyear of such city or village, an amount not in excess of the amount\nincluded in the annual budget or estimate for such fiscal year for the\npurpose or purposes for which such taxes were levied shall be charged to\nsuch account and credited to the general fund for the reduction of\ntaxation or into the general or other fund available for current\nexpenses of such city or village. No other payment shall be made from\nsuch an account or accounts. In a city having a population of one\nmillion or more, the revenues from the taxes described in subdivision\n(e) of section one hundred ten of this article shall be deposited in the\ngeneral fund and a payment of an equal amount shall be made, in the same\nfiscal year or as soon as practicable thereafter for the purposes\ndescribed in such section.\n