N.Y. STF Law § 84

§ 84. The United States Olympic Committee/Lake Placid Olympic Training\nCenter Fund. 1. There is hereby established in the joint custody of the\nstate comptroller and commissioner of taxation and finance a special\nfund to be known as the United States Olympic Committee/Lake Placid\nOlympic Training Center fund.\n 2. Such fund shall consist of all revenues received from the\nimplementation of section six hundred twenty-six of the tax law,\naccounted for separately and from all of the moneys credited or\ntransferred thereto from any other fund or source pursuant to law.\nMoneys deposited in the fund shall be held in interest bearing accounts\nin public depositories as prescribed by state statutes, and may be\ninvested or reinvested in such securities as are approved by the state\ntreasurer. Interest or other income earned on moneys deposited into the\nfund, and any moneys which moneys deposited into the fund and any moneys\nwhich may be appropriated or otherwise become available for the purposes\nof the fund, shall be credited to and deposited in the fund for use as\nset forth in this section.\n 2-a. On or before the first day of February each year, the chairperson\nof the New York state Olympic regional development authority shall\nprovide a written report to the temporary president of the senate,\nspeaker of the assembly, chair of the senate finance committee, chair of\nthe assembly ways and means committee, chair of the senate committee on\ncultural affairs, tourism, parks and recreation, chair of the assembly\ntourism, parks, arts and sports development committee, the state\ncomptroller and the public. Such report shall include how the monies of\nthe fund were utilized during the preceding calendar year, and shall\ninclude:\n (i) the amount of money dispersed from the fund and the award process\nused for such disbursements;\n (ii) recipients of awards from the fund;\n (iii) the amount awarded to each;\n (iv) the purposes for which such awards were granted; and\n (v) a summary financial plan for such monies which shall include\nestimates of all receipts and all disbursements for the current and\nsucceeding fiscal years, along with the actual results from the prior\nfiscal year.\n 3. Money of the fund less any administrative expenses paid, following\nappropriation by the legislation, shall be expended by the United States\nolympic committee, solely and exclusively for the maintenance and\noperation of the Lake Placid olympic training center. Money shall be\npaid out of the fund, monthly on the audit and warrant of the state\ncomptroller.\n