2807-U – Transfers for Tax Credits.

§  2807-u.  Transfers for tax credits. Upon receipt of the report from
  the  commissioner  of  taxation  and  finance   required   pursuant   to
  subdivision (i) of section fifteen hundred eleven of the tax law and the
  report  from  the superintendent of financial services required pursuant
  to section one thousand one hundred twelve-a of the insurance  law,  the
  director of the budget shall forward such reports to the commissioner of
  health.  Within ten days of receipt of such reports, the commissioner of
  health  or  the  commissioner of health's designee, from funds allocated
  for  distribution  in  accordance  with  paragraphs  (a)  and   (c)   of
  subdivision  seven  of  section  twenty-eight  hundred  seven-s  of this
  article, shall pay over to the state comptroller for  deposit  into  the
  state's  general  fund the amounts specified therein as representing (1)
  the amount of credits claimed under subdivision (i) of  section  fifteen
  hundred  eleven of the tax law and (2) the amount by which taxes due and
  owing pursuant to  section  one  thousand  one  hundred  twelve  of  the
  insurance  law  were reduced because the amounts imposed and required to
  be paid pursuant to section twenty-eight hundred seven-t of this article
  were allowed as credits in assessing the taxes imposed by  such  section
  one thousand one hundred twelve.