Bill Text: NY S07294 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to guaranteed shares of revenue of the metropolitan commuter transportation mobility tax; provides that monies in the mobility tax trust account shall be paid over directly to the chief financial officer of each respective county of the district to defray certain transportation, maintenance, and operation costs.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-06-02 - REPORTED AND COMMITTED TO FINANCE [S07294 Detail]

Download: New_York-2015-S07294-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7294
                    IN SENATE
                                     April 13, 2016
                                       ___________
        Introduced  by  Sen. MARTINS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
        AN ACT to amend the tax law,  the  state  finance  law  and  the  public
          authorities  law,  in  relation to guaranteed shares of revenue of the
          metropolitan commuter transportation mobility tax
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subsections (a) and (b) of section 805 of the tax law, as
     2  added by section 1 of part C of chapter 25 of  the  laws  of  2009,  are
     3  amended to read as follows:
     4    (a)  The  taxes,  interest,  and penalties imposed by this article and
     5  collected or received by the commissioner shall be deposited daily  with
     6  such  responsible  banks,  banking  houses or trust companies, as may be
     7  designated by the comptroller, to the credit of the comptroller in trust
     8  for the metropolitan transportation authority  and each respective coun-
     9  ty of the district as  defined  by  section  one  thousand  two  hundred
    10  sixty-two  of  the public authorities law. An account may be established
    11  in one or more of such depositories. Such deposits will be kept separate
    12  and apart from all other money in the possession of the comptroller. The
    13  comptroller shall require adequate security from all such  depositories.
    14  Of the total revenue collected or received under this article, the comp-
    15  troller shall retain such amount as the commissioner may determine to be
    16  necessary for refunds under this article. The commissioner is authorized
    17  and  directed to deduct from the amounts it receives under this article,
    18  before deposit into the trust accounts designated by the comptroller,  a
    19  reasonable  amount  necessary to effectuate refunds of appropriations of
    20  the department to reimburse the department for  the  costs  incurred  to
    21  administer, collect and distribute the taxes imposed by this article.
    22    (b)  On  or before the twelfth and twenty-sixth day of each succeeding
    23  month, after reserving such amount for such refunds and  deducting  such
    24  amounts  for  such  costs,  as  provided  for  in subsection (a) of this
    25  section, the commissioner shall certify to the comptroller the amount of
    26  all revenues so received during the prior  month  as  a  result  of  the
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14722-01-6