§ 312. Deposit and disposition of revenue.-- (a) Except as otherwise
provided, of all taxes, interest and penalties collected or received on
or after April first, two thousand one, from the taxes imposed by
section three hundred one-a of this article, (i) initially eighty and
three-tenths percent shall be deposited, as prescribed by subdivision
(d) of section three hundred one-j of this article and (ii) nineteen and
seven-tenths percent shall be deposited in such mass transportation
operating assistance fund to the credit of the metropolitan mass
transportation operating assistance account and the public
transportation systems operating assistance account thereof in the
manner provided by subdivision eleven of section one hundred
eighty-two-a of this chapter. Provided, further that on or before the
twenty-fifth day of each month commencing with April, two thousand one,
the comptroller shall deduct the amount of six hundred twenty-five
thousand dollars prior to any deposit or disposition of the taxes,
interest, and penalties collected or received pursuant to such section
three hundred one-a and shall deposit such amount in the dedicated fund
accounts pursuant to subdivision (d) of section three hundred one-j of
this article. Provided, further, that commencing January fifteenth,
nineteen hundred ninety-one, and on or before the tenth day of March and
the fifteenth day of June and September of such year, the commissioner
shall, based on information supplied by taxpayers and other appropriate
sources, estimate the amount of the utility credit authorized by section
three hundred one-d of this article which has been accrued to reduce tax
liability under section one hundred eighty-six-a of this chapter during
the period covered by such estimate and certify to the state comptroller
such estimated amount. The comptroller shall forthwith, after receiving
such certificate, deduct the amount of such credit so certified by the
commissioner prior to any deposit or disposition of the taxes, interest
and penalties collected or received pursuant to such section three
hundred one-a and shall pay such amount so certified and deducted into
the state treasury to the credit of the general fund. Also,
subsequently, during the fiscal year when the commissioner becomes aware
of changes or modifications with respect to actual credit usage, the
commissioner shall, as soon as practicable, issue a certification
setting forth the amount of any required adjustment to the amount of
actual credit usage previously certified. After receiving the
certificate of the commissioner with respect to actual credit usage or
modification of the same, the comptroller shall forthwith adjust general
fund receipts and the revenues to be deposited or disposed of under this
article to reflect the difference so certified by the commissioner. The
commissioner shall not be liable for any overestimate or underestimate
of the amount of the utility credit which has been accrued to reduce tax
liability under such section one hundred eighty-six-a. Nor shall the
commissioner be liable for any inaccuracy in any certificate with
respect to the amount of such credit actually used or any required
adjustment with respect to actual credit usage, but the commissioner
shall as soon as practicable after discovery of any error adjust the
next certification under this section to reflect any such error.

Prior to making deposits as provided in this section, the comptroller
shall retain such amount as the commissioner may determine to be
necessary, subject to the approval of the director of the budget, for
reasonable costs of the department in administering and collecting the
taxes deposited pursuant to this section and for refunds and
reimbursements with respect to such taxes, out of which the comptroller
shall pay any refunds or reimbursements of such taxes to which taxpayers
shall be entitled.

(b) Notwithstanding any other provision of law, all taxes, interest,
and penalties collected or received on or after December first, two
thousand seventeen from the taxes imposed by section three hundred one-e
of this article shall be deposited in the aviation purpose account of
the dedicated highway and bridge trust fund established by section
eighty-nine-b of the state finance law.