§ 1201-D — Dedication of taxes authorized for cities and counties

§ 1201-d. Dedication of taxes authorized for cities and counties. (a)\nNotwithstanding any other provision of law to the contrary, any\nauthorization for a city or county to impose a tax pursuant to this\narticle, may condition such authorization upon the dedication of such\nrevenue derived from such tax imposed, to a public benefit corporation\nestablished as an industrial development agency or an area\nrevitalization agency pursuant to article eighteen-A of the general\nmunicipal law or to a public authority established for economic\ndevelopment or transportation purposes pursuant to the public\nauthorities law.\n (b) In the event that a city or a county imposes a tax pursuant to\nthis article, in accordance with a conditional authorization as\ndescribed in subdivision (a) of this section, such city or county shall\ndedicate the revenue from such tax so imposed to the designated public\nbenefit corporation established as an industrial development agency or\nan area revitalization agency pursuant to article eighteen-A of the\ngeneral municipal law or public authority established for economic\ndevelopment or transportation purposes pursuant to the public\nauthorities law.\n