New York Consolidated Laws, State Finance Law - STF § 99-bb. SUNY Stony Brook Eastern Long Island Hospital Affiliation escrow fund

1. Notwithstanding any other provision of law, rule, regulation, or practice to the contrary, there is hereby established in the joint custody of the comptroller and the chancellor of the state university of New York (SUNY) a trust and agency fund, to be known as the “SUNY Stony Brook Eastern Long Island Hospital Affiliation escrow fund” which shall be available without fiscal year limitation.

2. The SUNY Stony Brook Eastern Long Island Hospital Affiliation escrow fund shall consist of (i) all monies generated through the activities of Stony Brook at Eastern Long Island Hospital, including but not limited to patient revenue, federal reimbursement, and other associated revenue sources, (ii) rent payments made by Stony Brook University Hospital to the Eastern Long Island Hospital Association under a certain lease agreement approved by the director of the budget, the office of the New York state attorney general and the office of the New York state comptroller and (iii) to the extent permitted under the lease agreement referred to in paragraph (ii) of this subdivision, working capital advances and capital acquisition advances made by Stony Brook University Hospital to the Eastern Long Island Hospital Association.

3. Monies of the SUNY Stony Brook Eastern Long Island Hospital Affiliation escrow fund shall be expended only for the purposes of Stony Brook at Eastern Long Island Hospital.