§ 77 — Accelerated capacity and transportation improvements fund

§ 77. Accelerated capacity and transportation improvements fund. 1.\nThere is hereby established in the joint custody of the state\ncomptroller and the commissioner of taxation and finance a special fund\nto be known as the "accelerated capacity and transportation improvements\nfund".\n 2. All moneys received by the state from the sale of bonds or notes\nfor the purposes enumerated in subdivision three of section fifty of the\nchapter of the laws of nineteen hundred eighty-eight adding this section\nshall be deposited by the comptroller in the accelerated capacity and\ntransportation improvements fund established pursuant to this section.\n 3. Moneys of the fund, following appropriation by the legislature and\nallocation by the director of the budget, shall be available only for\nreimbursement of expenditures made from appropriations from the capital\nprojects fund for the purposes of such fund, as set forth in the\nAccelerated Capacity and Transportation Improvements of the Nineties\nBond Act.\n 4. No moneys received by the state from the sale of bonds and/or notes\nsold pursuant to the Accelerated Capacity and Transportation\nImprovements of the Nineties Bond Act shall be expended for any\nimprovements until funds therefor have been allocated pursuant to the\nprovisions of this chapter and copies of the appropriate certificates of\napproval filed with the chairman of the senate finance committee, the\nchairman of the assembly ways and means committee and the state\ncomptroller.\n