§ 95. Abandoned property fund. 1. The state comptroller shall maintain
a special fund to be known as the abandoned property fund. Such fund
shall consist of all moneys paid to him pursuant to the provisions of
the abandoned property law and all moneys which by law are required to
be paid into such fund. All personal property, other than money,
delivered to him pursuant to the abandoned property law, or which by law
shall be delivered to him for the benefit of such fund, shall be
retained by him until sold pursuant to the provisions of the abandoned
property law in trust for the benefit of such fund.

2. Annually, the comptroller shall file with the director of the
budget an itemized estimate of the expenses for the administration of
the abandoned property fund for the ensuing year. The director of the
budget may revise and amend such estimate. After such revision and
amendment, if any, such director shall approve the same for inclusion in
the executive budget. No moneys shall be paid out of the abandoned
property fund for expenses unless expenditures therefor shall have been
authorized by law; provided, however, that the expenses for the
administration of the provisions of the abandoned property law paid by
the state comptroller pursuant to an appropriation, shall be reimbursed
by a transfer of funds no more frequently than monthly, from any balance
remaining in the abandoned property fund prior to any payment made
pursuant to the provisions of subdivision three of this section.

3. Whenever the amount of moneys in the abandoned property fund as of
the last day of any month shall exceed the greater of the sum of six
million dollars or an amount which in the comptroller's sole discretion
is necessary to satisfy claims against such fund during the immediately
succeeding month, the comptroller shall draw a warrant or voucher upon
such special fund for the amount in excess of such sum and shall pay
such amount into the state treasury to the credit of the general fund.
Notwithstanding the foregoing, the comptroller and the director of the
budget or their respective designees shall review the balance remaining
in the abandoned property fund as of the last day of the months of
March, June, September and December in each year, as soon as practicable
after each such date, and may mutually agree upon an amount to be paid
from such fund into the state treasury to the credit of the general
fund, which may cause the balance in such fund to fall below six million
dollars; provided, however, in no event shall the amount of moneys in
the abandoned property fund exceed seven hundred fifty thousand dollars
at the end of the last day of the fiscal year.

4. All moneys in the abandoned property fund shall be deposited by the
state comptroller in one or more state banks, trust companies or savings
banks. Any interest received by the comptroller upon any such deposit
and any interest or other moneys received by him on account of any
personal property other than money, retained by him for the benefit of
such fund, shall be the property of the state and shall be credited to
such fund.

5. (a) As often as necessary, the co-chairs of the state board of
elections shall certify the amount such co-chairs have determined
necessary to fund estimated payments from the fund established by
section ninety-two-t of this article for the primary, general or special
election.

(b) Notwithstanding any provision of this section authorizing the
transfer of any moneys in the abandoned property fund to the general
fund, the comptroller, after receiving amounts sufficient to pay claims
against the abandoned property fund, shall, based upon a certification
of the state board of elections pursuant to paragraph (a) of this
subdivision, and at the direction of the director of the budget,
transfer the requested amount from remaining available monies in the
abandoned property fund to the campaign finance fund established by
section ninety-two-t of this article.