§ 40-a. Repayment of advances.
1.Notwithstanding any inconsistent\nprovision of this chapter or of any other general, special or local law,\nevery appropriation of state funds hereafter made as an advance to or on\nbehalf of any agency, authority, fund or corporation continued or\ncreated by the public authorities law or by any other act or law shall\nbe identified as an advance, and shall provide that in any event, and\nnotwithstanding a repayment schedule, the unpaid balance of any moneys\nappropriated as an advance shall be repaid to the state out of the\nproceeds of the first bonds issued by such agency, authority, fund or\ncorporation subsequent to the effective date of such appropriation.\n 2. No part of any appropriation made as an advance pursuant to this\nsection shall be avai
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§ 40-a. Repayment of advances. 1. Notwithstanding any inconsistent\nprovision of this chapter or of any other general, special or local law,\nevery appropriation of state funds hereafter made as an advance to or on\nbehalf of any agency, authority, fund or corporation continued or\ncreated by the public authorities law or by any other act or law shall\nbe identified as an advance, and shall provide that in any event, and\nnotwithstanding a repayment schedule, the unpaid balance of any moneys\nappropriated as an advance shall be repaid to the state out of the\nproceeds of the first bonds issued by such agency, authority, fund or\ncorporation subsequent to the effective date of such appropriation.\n 2. No part of any appropriation made as an advance pursuant to this\nsection shall be available for expenditure until a written repayment\nagreement is entered into by the agency, authority, fund or corporation\nto which the appropriation is made and the director of the budget. Each\nand every such repayment agreement shall include a repayment schedule\nwhich states the date or dates on which the amount of each part or all\nof the appropriation made as an advance shall be repaid to the state and\nmeets such other terms and conditions as determined by the director of\nthe budget. A copy of each such executed repayment agreement shall be\nfiled with the chairman of the senate finance committee, the chairman of\nthe assembly ways and means committee, and the comptroller.\n 3. The state comptroller shall at the commencement of each month\ncertify to the director of the budget, the chairman of the senate\nfinance committee and the chairman of the assembly ways and means\ncommittee, and the chief executive officer of the agency, authority,\nfund or corporation to which the appropriation is made the amounts\nexpended from such appropriation for the month preceding such\ncertification.\n 4. Repayment of amounts expended from appropriations as advances by\nthe state shall be received by the state comptroller and deposited in\nthe treasury. Such repayment shall, in total, be sufficient to fully\nreimburse the state for the advances.\n