1262-M - Allocation of Net Collections From the Additional One Percent Rate of Sales and Compensating Use Taxes in the County of Chenango.

NY Tax L § 1262-M (2019) (N/A)

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* § 1262-m. Allocation of net collections from the additional one percent rate of sales and compensating use taxes in the county of Chenango. Notwithstanding any contrary provision of law, all net collections received by the county of Chenango from the one percent sales and compensating use taxes in addition to the three percent rate, each as authorized by section twelve hundred ten of this article, shall be used, in the first instance, to pay the cost of constructing and repaying any debts incurred in the construction of the Chenango county public safety building project, and any operational costs related to the Chenango county public safety building. Any and all revenue derived from such additional one percent tax, after the construction and debt financing costs of the Chenango county public safety building project annex, and any operational costs related to the Chenango county public safety building are paid, shall be deposited by the county of Chenango in a capital reserves fund. Disbursements from such capital reserves fund shall solely be made for the purposes of capital projects and repaying any debts incurred for such capital projects in the county of Chenango.

* NB There are 2 § 1262-m's

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