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What is NYC AC § 11-1118?

Quick Answer

This section outlines the requirement that all revenues generated from the tax imposed under this chapter be paid into the city's treasury and credited to the general fund. These revenues cannot be spent unless they are appropriated in the city's annual budget. Applies to city financial operations.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-1118 Disposition of revenues.

AC § 11-1118

All revenues resulting from the imposition of the tax under this chapter shall be paid into the treasury of the city and shall be credited to and deposited in the general fund of the city, but no part of such revenues may be expended unless appropriated in the annual budget of the city.

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