§ 92-d. Municipal assistance tax fund. 1. There is hereby established\nin the custody of the comptroller a special fund to be known as the\nmunicipal assistance tax fund. Within such fund, there is hereby\nestablished a special account for each municipal assistance corporation\ncreated under article ten of the public authorities law.\n 2. Such fund shall consist of the revenues derived from municipal\nassistance sales and compensating use taxes imposed by sections eleven\nhundred seven and eleven hundred eight of the tax law, any amounts\ntransferred from the stock transfer tax fund pursuant to section\nninety-two-b of this article, any amounts transferred pursuant to\nsubdivision (a) of section nine of chapter seven hundred twenty-one of\nthe laws of nineteen hundred ninety-four, as amended by chapter one\nhundred eighty-seven of the laws of nineteen hundred ninety-five, and\nsuch amount of aid apportioned and paid into such fund pursuant to\nsection fifty-four of this chapter.\n 3. The taxes, interest and penalties imposed, pursuant to sections\neleven hundred seven or eleven hundred eight (as the case may be) of the\ntax law within the territorial limits of a city in aid of which a\nmunicipal assistance corporation has been created, and received by the\ncommissioner of taxation and finance, after deducting the amount which\nthe commissioner of taxation and finance shall determine to be necessary\nfor reasonable costs of the commissioner of taxation and finance in\nadministering, collecting and distributing such taxes, shall be\nappropriated (i) to the municipal assistance corporation which has been\ncreated in aid of such city in order to enable such corporation to\nfulfill the terms of any agreements made with the holders of its notes\nand bonds and to carry out its corporate purposes, including the\nmaintenance of the capital reserve fund, and (ii) the balance, if any,\nto the city in aid of which such corporation has been created, or to a\npublic benefit corporation to which the tax may be otherwise payable\npursuant to law, as hereinafter provided.\n 4. On or before the twelfth day of each month, the commissioner of\ntaxation and finance shall certify to the comptroller the amount of all\nrevenues so received during the prior month as a result of the taxes,\ninterest and penalties so imposed and in addition on or before the last\nday of June the commissioner shall certify the amount of such revenues\nreceived during and including the first twenty-five days of June. The\namount of revenues so certified shall be deposited by the comptroller in\nthe municipal assistance tax fund and the amount attributable to the\ntaxes, interest and penalties imposed within the territorial limits of a\ncity in aid of which a municipal assistance corporation has been created\nshall be credited to a special account established in such fund for such\ncorporation. Notwithstanding the foregoing provisions, the commissioner\nof taxation and finance may prorate revenue attributable to the first or\nlast quarterly return period during which the taxes imposed by section\neleven hundred seven or eleven hundred eight (as the case may be) of the\ntax law apply so as to separate from the revenue collected for that\nquarter pursuant to such taxes the revenue collected pursuant to local\nlegislation adopted by a city pursuant to section twelve hundred ten or\ntwelve hundred twelve-A of the tax law. Such a proration by the\ncommissioner of taxation and finance shall be made on the basis of the\nratio of the number of months during which such taxes were imposed\nduring such quarterly return period to the total number of months in\nsuch quarterly return period when such proration is reasonably necessary\nto ascertain the amount of such money which must be deposited by the\ncomptroller in such special account and the amount of such money which\nmust be deposited pursuant to section twelve hundred sixty-one of the\ntax law. The commissioner of taxation an
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