§ 1333. Deposit and disposition of revenues. All revenue collected by\nthe commissioner of taxation and finance from the tax imposed by any\ncity pursuant to the authority of this article or article thirty-B of\nthis chapter shall be deposited daily with such responsible banks,\nbanking houses or trust companies, as may be designated by the state\ncomptroller, to the credit of the comptroller, in trust for such city.\nSuch deposits shall be kept in trust and separate and apart from all\nother moneys in the possession of the comptroller. The comptroller shall\nrequire adequate security from all such depositories of such revenue\ncollected by the commissioner of taxation and finance. The comptroller\nshall retain in his hands such amount as the commissioner of taxation\nand finance may determine to be necessary for refunds in respect to the\ntax imposed by such city pursuant to the authority of this article or\narticle thirty-B of this chapter and for reasonable costs of the\ncommissioner of taxation and finance in administering, collecting and\ndistributing such taxes, out of which the comptroller shall pay any\nrefunds of such taxes to which the taxpayer shall be entitled under any\nlaw enacted by such city pursuant to the authority of this article or\narticle thirty-B of this chapter. The comptroller, after reserving such\nrefund fund and such cost shall, on or before the fifteenth day of each\nmonth, pay to the chief fiscal officer of such city the balance of such\ntaxes collected, to be paid into the treasury of such city to the credit\nof the general fund except that he shall pay to the state department of\nsocial services that amount of overpayments of the tax imposed by such\ncity pursuant to the authority of this article or article thirty-B of\nthis chapter and the interest on such amount which is certified to him\nby the commissioner of taxation and finance as the amount to be credited\nagainst past-due support pursuant to subdivision six of section one\nhundred seventy-one-c of this chapter and except that he shall pay to\nthe New York state higher education services corporation that amount of\noverpayments of the tax imposed by such city pursuant to the authority\nof this article or article thirty-B of this chapter and the interest on\nsuch amount which is certified to him by the commissioner of taxation\nand finance as the amount to be credited against the amount of defaults\nin repayment of guaranteed student loans pursuant to subdivision five of\nsection one hundred seventy-one-d of this chapter and except that he\nshall pay to the state university of New York or the city university of\nNew York respectively that amount of overpayments of the tax imposed by\nsuch city pursuant to the authority of this article or article thirty-B\nof this chapter and the interest on such amount which is certified to\nhim by the commissioner of taxation and finance as the amount to be\ncredited against the amount of defaults in repayment of state or city\nuniversity loans pursuant to subdivision six of section one hundred\nseventy-one-e of this chapter and except that, notwithstanding any other\nprovision of law, he shall credit to the revenue arrearage account,\npursuant to section ninety-one-a of the state finance law, that amount\nof overpayments of the taxes imposed pursuant to the authority of this\narticle or article thirty-B of this chapter and the interest on such\namount which is certified to him by the commissioner of taxation and\nfinance as the amount to be credited against a past-due legally\nenforceable debt owed to a state agency pursuant to paragraph (a) of\nsubdivision six of section one hundred seventy-one-f of this chapter,\nprovided, however, he shall credit to the special offset fiduciary\naccount, pursuant to section ninety-one-c of the state finance law, any\nsuch amount creditable as a liability as set forth in paragraph (b) of\nsubdivision six of section one hundred seventy-one-f of this chapter and\nexcept
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