§ 499-D — Deposit and disposition of revenue from supplemental fee

New York § 499-D

• Jurisdiction: New York
• Law VAT: Vehicle & Traffic
• Title 4: Registration of Vehicles
• Art. 17-C: Metropolitan Commuter Transportation District Supplemental Registration Fee

Text

§ 499-d. Deposit and disposition of revenue from supplemental fee. The\ncommissioner shall deposit daily all funds derived from the collection\nof the supplemental fee established pursuant to this article with such\nresponsible banks, banking houses or trust companies as may be\ndesignated by the state comptroller, in trust for the credit of the\nmetropolitan transportation authority. An account may be established in\none or more of such depositories. Such deposits shall be kept separate\nand apart from all other money in the possession of the comptroller. On\nor before the twelfth day of each month, the commissioner shall certify\nto the comptroller the amount of all revenues received pursuant to this\narticle during the prior month as a result of the supplemental fee\nimposed, including any interest and penalties thereon. The revenues so\ncertified over the prior three months in total shall be paid over by the\nfifteenth day of the last month of each calendar quarter from such\naccount, without appropriation, into the corporate transportation\naccount of the metropolitan transportation authority special assistance\nfund established by section twelve hundred seventy-a of the public\nauthorities law, to be applied as provided in paragraph (e) of\nsubdivision four of such section. Any money collected pursuant to this\nsection that is deposited by the comptroller in the corporate\ntransportation account of the metropolitan transportation authority\nspecial assistance fund shall be held in such fund free and clear of any\nclaim by any person or entity paying an additional fee pursuant to this\nsection, including, without limiting the generality of the foregoing,\nany right or claim against the metropolitan transportation authority,\nany of its bondholders, or any subsidiary or affiliate of the\nmetropolitan transportation authority.\n