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What is NYC AC § 11-2118?

Quick Answer

This section outlines the requirement for all revenues generated from the tax imposed under this chapter to be paid into the city's treasury and credited to the general fund. It specifies that these revenues cannot be expended 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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§ 11-2118 Disposition of revenues.

AC § 11-2118

Except as otherwise provided, 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. Except as otherwise provided, no part of such revenues may be expended unless appropriated in the annual budget of the city.

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