Responsibilities of Commissioner of Economic Development, Comptroller, Commissioner of Taxation and Finance and Superintendent of Financial Services.

  1. Law
  2. New York Laws
  3. State Finance
  4. Excelsior Linked Deposit Act
  5. Responsibilities of Commissioner of Economic Development, Comptroller, Commissioner of Taxation and Finance and Superintendent of Financial Services.

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§ 215. Responsibilities of commissioner of economic development, comptroller, commissioner of taxation and finance and superintendent of financial services. 1. The commissioner of economic development shall administer the program pursuant to section two hundred nineteen of this article, including all decisions with respect to the application and use of the program for eligible projects; market and promote the program pursuant to section two hundred twenty-three of this article; after consulting with the comptroller, the commissioner of taxation and finance and the superintendent of financial services, issue rules and regulations for the operation of the program pursuant to section two hundred twenty-four of this article.

2. The comptroller's responsibilities for the program shall be limited to: pursuant to sections two hundred fourteen and two hundred nineteen of this article, placing moneys on deposit at the request of the commissioner of economic development for the purposes of the program and administering such deposits in accordance with sections ninety-eight-a and one hundred five of this chapter and with the comptroller's established procedures; and entering into deposit agreements with lenders pursuant to section two hundred nineteen of this article.

3. The commissioner of taxation and finance's responsibilities for the program shall be limited to: pursuant to sections two hundred fourteen and two hundred nineteen of this article, placing linked deposit program fund moneys on deposit at the request of the commissioner of economic development for the purposes of the program and administering such deposits in accordance with sections ninety-eight-a and one hundred five of this chapter and with the commissioner of taxation and finance's established procedures; and entering into deposit agreements with lenders pursuant to section two hundred nineteen of this article.

4. The superintendent of financial services' responsibilities for the program shall be limited to marketing and promoting the program pursuant to section two hundred twenty-three of this article.



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