§ 1313. Deposit and disposition of revenues. (a) All revenue collected\nby the commissioner from the taxes imposed pursuant to the authority of\nthis article or former article two-E of the general city law shall be\ndeposited daily with such responsible banks, banking houses or trust\ncompanies, as may be designated by the state comptroller, to the credit\nof the comptroller, in trust for the city of New York or the New York\ncity transitional finance authority, as their interests may appear\npursuant to this section. Such deposits shall be kept in trust and\nseparate and apart from all other moneys in the possession of the\ncomptroller. The comptroller shall require adequate security from all\nsuch depositories of such revenue collected by the commissioner.\n (b) The comptroller shall retain in the comptroller's hands such\namount as the commissioner may determine to be necessary for refunds in\nrespect to the taxes imposed pursuant to the authority of this article\nor former article two-E of the general city law and for reasonable costs\nof the commissioner in administering, collecting and distributing such\ntaxes and the tax imposed pursuant to article twenty-four-B of this\nchapter, out of which the comptroller shall pay any refunds of such\ntaxes to which taxpayers shall be entitled under any law enacted\npursuant to the authority of this article or former article two-E of the\ngeneral city law.\n (c) Subject to the provisions of subsection (g) of this section, the\ncomptroller, after reserving such refund fund and such costs shall,\ncommencing on or before the fifteenth day of each month, pay to the New\nYork city transitional finance authority on a daily basis the balance of\ntaxes imposed pursuant to the authority of this article or former\narticle two-E of the general city law to be applied by the authority, in\nthe following order of priority: first pursuant to the authority's\ncontracts with bondholders, then to pay the authority's operating\nexpenses not otherwise provided for, and then pursuant to the\nauthority's agreements with the city, which agreements shall require the\nauthority to transfer the balance of such taxes not required to meet\ncontractual or other obligations of the authority to the city as\nfrequently as practicable; except that the comptroller shall:\n (1) pay to the state department of social services that amount of\noverpayments of the taxes imposed pursuant to the authority of this\narticle or former article two-E of the general city law and the interest\non such amount which is certified to the comptroller by the commissioner\nas the amount to be credited against past-due support pursuant to\nsubdivision six of section one hundred seventy-one-c of this chapter;\n (2) pay to the New York state higher education services corporation\nthat amount of overpayments of the taxes imposed pursuant to the\nauthority of this article or former article two-E of the general city\nlaw and the interest on such amount which is certified to the\ncomptroller by the commissioner as the amount to be credited against the\namount of defaults in repayment of guaranteed student loans pursuant to\nsubdivision five of section one hundred seventy-one-d of this chapter;\n (3) pay to the state university of New York or the city university of\nNew York respectively that amount of overpayments of the taxes imposed\npursuant to the authority of this article or former article two-E of the\ngeneral city law and the interest on such amount which is certified to\nthe comptroller by the commissioner as the amount to be credited against\nthe amount of defaults in repayment of state or city university loans\npursuant to subdivision six of section one hundred seventy-one-e of this\nchapter;\n (4) notwithstanding any provision of law, credit to the revenue\narrearage account, pursuant to section ninety-one-a of the state finance\nlaw, that amount of overpayments of the taxes imposed pursuant to the\nauthority of this article or
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