§ 1270-a. Metropolitan transportation authority special assistance
fund. 1. The authority shall create and establish a fund to be known as
the "metropolitan transportation authority special assistance fund"
which shall be kept separate from and shall not be commingled with any
other moneys of the authority. The special assistance fund shall consist
of three separate accounts: (i) the "transit account", (ii) the
"commuter railroad account" and (iii) the "corporate transportation
account".

The authority shall make deposits in the transit account and the
commuter railroad account of the moneys received by it pursuant to the
provisions of subdivision one of section two hundred sixty-one of the
tax law in accordance with the provisions thereof, and shall make
deposits in the corporate transportation account of the moneys received
by it pursuant to the provisions of subdivision two of section two
hundred sixty-one of the tax law and section ninety-two-ff of the state
finance law. The comptroller shall deposit, without appropriation, into
the corporate transportation account the revenue fees, taxes, interest
and penalties collected in accordance with paragraph (b-1) of
subdivision two of section five hundred three of the vehicle and traffic
law, paragraph (c-3) of subdivision two of section five hundred three of
the vehicle and traffic law, article seventeen-C of the vehicle and
traffic law, article twenty-nine-A of the tax law and section eleven
hundred sixty-six-a of the tax law.

2. Moneys in the transit account may be pledged to the Triborough
bridge and tunnel authority to secure bonds and notes and, if so
pledged, shall be paid to the Triborough bridge and tunnel authority in
such amounts and at such times as necessary to pay or to reimburse that
authority for its payment of debt service and reserve requirements on
that portion of special Triborough bridge and tunnel authority bonds and
notes issued by that authority pursuant to section five hundred
fifty-three-d of this chapter for transit projects undertaken for the
New York city transit authority and its subsidiaries. Subject to the
provisions of such pledge, any excess monies, or in the event there is
no such pledge, any moneys in such account shall, at the direction of
the metropolitan transportation authority, be (a) deposited into one or
more funds or accounts and used as contemplated by section twelve
hundred seventy-d of this title or (b) used for the payment of operating
and capital costs of the New York city transit authority and its
subsidiaries and the Staten Island rapid transit operating authority.

3. The authority shall transfer in nineteen hundred eighty-seven up to
twenty million dollars of the moneys in the commuter railroad account to
the suburban transportation fund in accordance with the terms of an
agreement between the authority and the department of transportation
with respect thereto, established herein, and pursuant to section
eighty-eight-b of the state finance law. In subsequent years the
authority shall transfer twenty million dollars of the moneys in the
commuter railroad account to the suburban transportation fund in
accordance with the terms of an agreement between the authority and the
department of transportation with respect thereto, established herein,
and pursuant to section eighty-eight-b of the state finance law.

In the event the transfer to the suburban transportation fund provided
pursuant to this subdivision results in an operating deficit, as
certified by the director of the division of the budget, in consultation
with the authority, that portion of the deficit attributable to such
transfer shall be appropriated from the general fund to the authority
for commuter railroad operating purposes, provided, however, that such
appropriation shall not exceed twenty million dollars.

The remaining moneys in the commuter railroad account may be pledged
to the Triborough bridge and tunnel authority to secure bonds and notes
and, if so pledged, shall be paid to the Triborough bridge and tunnel
authority in such amounts and at such times as necessary to pay or to
reimburse that authority for its payment of debt service and reserve
requirements on that portion of special Triborough bridge and tunnel
authority bonds and notes issued by that authority pursuant to section
five hundred fifty-three-d of this chapter for transportation facilities
undertaken for the authority and its subsidiaries. Subject to the
provisions of any such pledge, any excess monies, or in the event there
is no such pledge, any moneys in such account shall, at the direction of
the metropolitan transportation authority, be (a) deposited into one or
more funds or accounts and used as contemplated by section twelve
hundred seventy-d of this title or, (b) used for payment of operating
and capital costs of the Long Island Rail Road company and the
Metro-North commuter railroad company.

4. (a) Moneys in the corporate transportation account shall first be
used for payments to the metropolitan transportation authority Dutchess,
Orange and Rockland fund established by section twelve hundred seventy-b
of this title. The remaining moneys in the corporate transportation
account may be pledged by the authority, or pledged to the Triborough
bridge and tunnel authority, to secure bonds, notes or other obligations
of the authority or the Triborough bridge and tunnel authority, as the
case may be, and, if so pledged to the Triborough bridge and tunnel
authority, shall be paid to the Triborough bridge and tunnel authority
in such amounts and at such times as necessary to pay or to reimburse
that authority for its payment of debt service and reserve requirements,
if any, on that portion of special Triborough bridge and tunnel
authority bonds and notes issued by that authority pursuant to section
five hundred fifty-three-d of this chapter. Subject to the provisions of
any such pledge, or in the event there is no such pledge, any excess
moneys in the corporate transportation account may be used by the
authority for payment of operating costs of, and capital costs,
including debt service and reserve requirements, if any, of or for the
authority, the New York city transit authority and their subsidiaries as
the authority shall determine.

(b) Commencing in calendar year nineteen hundred eighty-nine, and in
each subsequent year thereafter, the authority shall transfer in four
equal quarterly amounts from the corporate transportation account to the
metropolitan transportation authority Dutchess, Orange and Rockland fund
created by section twelve hundred seventy-b of this title the following
amounts: to the Dutchess account of such fund the sum of one million
five hundred thousand dollars; to the Orange account of such fund the
sum of one million five hundred thousand dollars; and to the Rockland
account of such fund the sum of two million dollars.

(c) Commencing in calendar year nineteen hundred ninety, and each year
thereafter, the authority shall transfer from the corporate
transportation account to the Dutchess account, the Orange account and
the Rockland account, respectively, an amount equal to the percent by
which such county's payments to the authority in the preceding calendar
year pursuant to the provisions of subdivisions one and two of section
two hundred sixty-one of the tax law increased over such payments in
nineteen hundred eighty-nine times one million five hundred thousand
dollars for Dutchess county, one million five hundred thousand dollars
for Orange county and two million dollars for Rockland county; provided,
however, that in no event shall such amount reduce the amount that each
county would receive pursuant to paragraph (b) of this subdivision be
reduced by operation of this paragraph, and provided further, however,
for purposes of calculating the percent by which such county's payments
to the authority in the preceding calendar year pursuant to the
provisions of subdivisions one and two of section two hundred sixty-one
of the tax law increased over such payments in nineteen hundred
eighty-nine, there shall be excluded the amount by which the payments in
each such year increased as a result of the recording tax imposed
pursuant to the provisions of subdivision one of section two hundred
sixty-one of the tax law being in excess of twenty-five cents for each
one hundred dollars.

(d) (1) In the event the county of Dutchess, the county of Orange or
the county of Rockland withdraws from the metropolitan transportation
district, the authority shall not transfer from the corporate
transportation account to the metropolitan transportation authority
Dutchess, Orange and Rockland fund that portion of the moneys that would
otherwise be transferred from such account to such fund to the credit of
such withdrawing county or counties.

(2) For purposes of this subdivision, a county is deemed to have
withdrawn if a resolution is adopted and filed by the county legislature
of such county providing a public transportation plan pursuant to
section twelve hundred seventy-nine-b of this title.

(e) Notwithstanding the foregoing provisions of this subdivision, any
moneys in the corporate transportation account that are received by the
authority: (i) without appropriation pursuant to subdivision one of this
section, or (ii) pursuant to the provisions of section ninety-two-ff of
the state finance law may be pledged by the authority, or pledged to the
Triborough bridge and tunnel authority, to secure bonds, notes or other
obligations of the authority or the Triborough bridge and tunnel
authority, as the case may be, and, if so pledged to the Triborough
bridge and tunnel authority, shall be paid to the Triborough bridge and
tunnel authority in such amounts and at such times as necessary to pay
or to reimburse that authority for its payment of debt service and
reserve requirements, if any, on that portion of special Triborough
bridge and tunnel authority bonds and notes issued by that authority
pursuant to section five hundred fifty-three-d of this chapter. Subject
to the provisions of any such pledge, or in the event there is no such
pledge, any moneys in the corporate transportation account received by
the authority: (i) without appropriation pursuant to subdivision one of
this section, or (ii) pursuant to the provisions of section
ninety-two-ff of the state finance law may be used by the authority for
payment of operating costs of, and capital costs, including debt service
and reserve requirements, if any, of or for the authority, the New York
city transit authority and their subsidiaries as the authority shall
determine. No moneys in the corporate transportation account that are
reserved by the authority: (i) without appropriation pursuant to
subdivision one of this section; or (ii) pursuant to the provisions of
section ninety-two-ff of the state finance law may be used for making
any payment to the Dutchess, Orange and Rockland fund created by section
twelve hundred seventy-b of this title or considered in calculating the
amounts required to be paid into such fund.