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1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a special fund to be known as the “clean water/clean air bond fund”.
2. The comptroller shall establish the following separate and distinct accounts within the clean water/clean air bond fund: (a) safe drinking water account; (b) clean water account; (c) solid waste account; (d) environmental restoration account; and (e) air quality improvement account.
3. All moneys received by the state from the sale of bonds or notes for the purpose of the clean water/clean air bond fund shall be deposited by the comptroller into the clean water/clean air bond fund established pursuant to this section.
4. Moneys in this fund, following appropriation by the legislature and allocation by the director of the budget, shall be available only for the reimbursement of expenditures made from appropriations from the capital projects fund for the purposes set forth in the Clean Water/Clean Air Bond Act of 1996. 1
Cite this article: FindLaw.com - New York Consolidated Laws, State Finance Law - STF § 97-aaa. Clean water/clean air bond fund - last updated January 01, 2021 | https://codes.findlaw.com/ny/state-finance-law/stf-sect-97-aaa.html
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