477 - Consistency with federal tax law. - New York Statutes

* § 477. Consistency with federal tax law. All actions taken pursuant to this article shall be reviewed for consistency with provisions of the federal internal revenue code and regulations thereunder, in accordance with procedures established in connection with the issuance of any tax exempt bonds pursuant to this article, to preserve the tax exempt status of such bonds. * NB Not effective due to defeat of the Transportation Bond Act of 2000