* § 99-w. Transit assistance for capital investments fund. 1. There is
hereby established in the joint custody of the state comptroller and the
commissioner of taxation and finance a special capital fund to be known
as the "transit assistance for capital investments fund."

2. The comptroller shall establish the following separate and distinct
account within the transit assistance for capital investments fund:

Metropolitan transit assistance for capital investments account

3. The transit assistance for capital investments fund shall consist
of all moneys collected therefor or credited or transferred thereto from
any other fund, account or source. Any interest received by the
comptroller on moneys on deposit in the transit assistance for capital
investments fund shall be retained in and become a part of such fund.

4. Moneys in the transit assistance for capital investments fund
shall, following appropriation by the legislature, be utilized for
capital purposes, including, but not limited to the planning and design,
acquisition, construction, reconstruction, replacement, improvement,
reconditioning, rehabilitation and preservation of mass transit
facilities, vehicles, related equipment and rolling stock with an
average service life of no less than five years.

5. Moneys deposited into the metropolitan transit assistance for
capital investments account shall be available to the metropolitan
transportation authority (MTA) and to all other public transportation
systems serving primarily within the metropolitan commuter
transportation district, as defined in section twelve hundred sixty-two
of the public authorities law, eligible to receive operating assistance
under the provisions of section eighteen-b of the transportation law
consistent with the uses outlined in subdivision four of this section.

6. Notwithstanding any other provision of law, no capital assistance
payment authorized under this section may be applied to operating
expenses.

7. All payments of money from the transit assistance for capital
investments fund shall be made in accordance with a formula to be
established by the commissioner of transportation with the approval of
the director of the budget.

8. All payments of moneys from the transit assistance for capital
investments fund shall be made on the audit and warrant of the
comptroller.

* NB There are 2 § 99-w's