N.Y. Tax Law § 1288

§ 1288. Deposit and disposition of revenue. Notwithstanding any\nprovision of law to the contrary: (a) All taxes, interest and penalties\ncollected or received by the commissioner pursuant to this article shall\nbe deposited daily with such responsible banks, banking houses or trust\ncompanies, as may be designated by the comptroller, to the credit of the\ncomptroller. Such an account may be established in one or more of such\ndepositories. Such deposits shall be kept separate and apart from all\nother money in the possession of the comptroller. The comptroller shall\nrequire adequate security from all such depositories. Of the total\nrevenue collected or received under this section, the comptroller shall\nretain in the comptroller's hands such amount as the commissioner may\ndetermine to be necessary for refunds under this article. The\ncommissioner is authorized and directed to deduct from such amounts\ncollected or received under this article, before deposit into the\naccounts specified by the comptroller, a reasonable amount necessary to\neffectuate refunds of appropriations of the department to reimburse the\ndepartment for the costs to administer, collect and distribute the taxes\nimposed by this article.\n (b) On or before the twelfth day following the end of each month,\nafter reserving such amount for such refunds and such costs, the\ncommissioner shall certify to the comptroller the amount of all revenues\nso received pursuant to this article during the prior month as a result\nof the taxes, interest and penalties so imposed.\n (c) The comptroller shall pay over the amount of revenues so certified\nby the commissioner to the metropolitan transportation authority aid\ntrust account of the metropolitan transportation authority financial\nassistance fund established by section ninety-two-ff of the state\nfinance law for deposit, subject to appropriation, in the corporate\ntransportation account of the metropolitan transportation authority\nspecial assistance fund established by section twelve hundred seventy-a\nof the public authorities law to be applied as provided in paragraph (e)\nof subdivision four of such section twelve hundred seventy-a. Any money\ncollected pursuant to this article that is deposited by the comptroller\nin the metropolitan transportation authority aid trust account of the\nmetropolitan transportation authority financial assistance fund shall be\nheld in such fund free and clear of any claim by any person or entity\npaying the tax pursuant to this article, including, without limiting the\ngenerality of the foregoing, any right or claim against the metropolitan\ntransportation authority, any of its bondholders, or any subsidiary or\naffiliate of the metropolitan transportation authority.\n