Section 97-DD. Eminent domain account

1. There is hereby established in the
  joint  custody of the state comptroller and the commissioner of taxation
  and finance an eminent domain account.
    2. The eminent domain account shall consist of  all  moneys  deposited
  pursuant  to  the provisions of subdivision (E) of section three hundred
  four of the eminent domain procedure law, and all other moneys  credited
  or transferred thereto from any other fund or source pursuant to law.
    3. The comptroller shall establish a sub-account for each deposit made
  pursuant  to  the  provision of subdivision (E) of section three hundred
  four of the eminent domain procedure law.
    4. Moneys of the account may be invested by  the  comptroller  in  any
  obligation  in which moneys of the state may be invested pursuant to the
  provisions of section ninety-eight-a of this article  and  the  interest
  earnings shall be credited to the account.
    5.  Moneys  of the account shall be payable to condemnees or otherwise
  expended in accordance with the provisions of subdivision (E) of section
  three hundred four of the eminent domain procedure law.