§ 2807-u. Transfers for tax credits. Upon receipt of the report from
the commissioner of taxation and finance required pursuant to
subdivision (i) of section fifteen hundred eleven of the tax law and the
report from the superintendent of financial services required pursuant
to section one thousand one hundred twelve-a of the insurance law, the
director of the budget shall forward such reports to the commissioner of
health. Within ten days of receipt of such reports, the commissioner of
health or the commissioner of health's designee, from funds allocated
for distribution in accordance with paragraphs (a) and (c) of
subdivision seven of section twenty-eight hundred seven-s of this
article, shall pay over to the state comptroller for deposit into the
state's general fund the amounts specified therein as representing (1)
the amount of credits claimed under subdivision (i) of section fifteen
hundred eleven of the tax law and (2) the amount by which taxes due and
owing pursuant to section one thousand one hundred twelve of the
insurance law were reduced because the amounts imposed and required to
be paid pursuant to section twenty-eight hundred seven-t of this article
were allowed as credits in assessing the taxes imposed by such section
one thousand one hundred twelve.