§ 1201-d. Dedication of taxes authorized for cities and counties. (a)
Notwithstanding any other provision of law to the contrary, any
authorization for a city or county to impose a tax pursuant to this
article, may condition such authorization upon the dedication of such
revenue derived from such tax imposed, to a public benefit corporation
established as an industrial development agency or an area
revitalization agency pursuant to article eighteen-A of the general
municipal law or to a public authority established for economic
development or transportation purposes pursuant to the public
authorities law.

(b) In the event that a city or a county imposes a tax pursuant to
this article, in accordance with a conditional authorization as
described in subdivision (a) of this section, such city or county shall
dedicate the revenue from such tax so imposed to the designated public
benefit corporation established as an industrial development agency or
an area revitalization agency pursuant to article eighteen-A of the
general municipal law or public authority established for economic
development or transportation purposes pursuant to the public
authorities law.