§ 2807-U — Transfers for tax credits

§ 2807-u. Transfers for tax credits. Upon receipt of the report from\nthe commissioner of taxation and finance required pursuant to\nsubdivision (i) of section fifteen hundred eleven of the tax law and the\nreport from the superintendent of financial services required pursuant\nto section one thousand one hundred twelve-a of the insurance law, the\ndirector of the budget shall forward such reports to the commissioner of\nhealth. Within ten days of receipt of such reports, the commissioner of\nhealth or the commissioner of health's designee, from funds allocated\nfor distribution in accordance with paragraphs (a) and (c) of\nsubdivision seven of section twenty-eight hundred seven-s of this\narticle, shall pay over to the state comptroller for deposit into the\nstate's general fund the amounts specified therein as representing (1)\nthe amount of credits claimed under subdivision (i) of section fifteen\nhundred eleven of the tax law and (2) the amount by which taxes due and\nowing pursuant to section one thousand one hundred twelve of the\ninsurance law were reduced because the amounts imposed and required to\nbe paid pursuant to section twenty-eight hundred seven-t of this article\nwere allowed as credits in assessing the taxes imposed by such section\none thousand one hundred twelve.\n