§ 74. Transportation infrastructure renewal fund. 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
"transportation infrastructure renewal fund".

2. The comptroller shall establish three separate and distinct
accounts within the transportation infrastructure renewal fund: (a) the
highway, parkway and bridge account; (b) the ports and waterways
account; and (c) the transit, rail and aviation account.

3. All moneys received by the state from the sale of bonds or notes
for the purposes enumerated in paragraph a of subdivision three of
section one of a chapter of the laws of nineteen hundred eighty-three
enacting and constituting the Rebuild New York Through Transportation
Infrastructure Renewal Bond Act of 1983 shall be deposited by the
comptroller in the highway, parkway and bridge account established by
the comptroller pursuant to the provisions of subdivision two of this
section.

4. All moneys received by the state from the sale of bonds or notes
for the purposes enumerated in paragraph b of subdivision three of
section one of a chapter of the laws of nineteen hundred eighty-three
enacting and constituting the Rebuild New York Through Transportation
Infrastructure Renewal Bond Act of 1983 shall be deposited by the
comptroller in the ports and waterways account established by the
comptroller pursuant to the provisions of subdivision two of this
section.

5. All moneys received by the state from the sale of bonds or notes
for the purposes enumerated in paragraph c of subdivision three of
section one of a chapter of the laws of nineteen hundred eighty-three
enacting and constituting the Rebuild New York Through Transportation
Infrastructure Renewal Bond Act of 1983 shall be deposited by the
comptroller in the transit, rail and aviation account established by the
comptroller pursuant to the provisions of subdivision two of this
section.

6. Moneys in any account of this fund, following appropriation by the
legislature and allocation by the director of the budget, shall be
available only for reimbursement of expenditures made from
appropriations from the capital projects fund for the purposes of such
fund, as set forth in the Rebuild New York Through Transportation
Infrastructure Renewal Bond Act of 1983.