§ 93-a. New York state storm recovery capital fund. 1. (a) There is
hereby established in the joint custody of the comptroller and the
commissioner of taxation and finance a special fund to be known as the
"New York state storm recovery capital fund".

(b) The sources of funds shall consist of all moneys collected
therefor, or moneys credited, appropriated or transferred thereto from
any other fund or source pursuant to law, or any other moneys made
available for the purposes of the fund.

2. Following appropriation by the legislature, moneys in the storm
recovery capital fund shall be available for the repair, rehabilitation,
or replacement of capital works or purposes damaged by Hurricane Sandy
or any future natural disaster expected to be eligible for reimbursement
by the Federal Emergency Management Agency (FEMA), the Federal Transit
Administration (FTA), the Federal Highway Administration (FHWA) and/or
any other Federal reimbursement source. No money in this account may be
expended for any project unless the director of the budget or his or her
designee has determined that there is a substantial likelihood that the
costs of such project shall be eligible for reimbursement by Federal
sources.