Section 99-G. Air pollution mitigation fund

1. There is hereby established
  in the joint custody of the comptroller and the New  York  state  energy
  research  and  development  authority  a special fund to be known as the
  "air pollution mitigation fund".
    2. Such fund shall consist of  all  moneys  collected  by  the  public
  service  commission  as  an  air pollution mitigation offset pursuant to
  subdivision two of section sixty-six-k of the public  service  law.  Any
  interest  earned by the investment of moneys in such fund shall be added
  to such fund, become a part of such fund, and be used for the purpose of
  such fund.
    3. Moneys of such fund shall be available to the New York state energy
  research and development authority for the purposes of carrying out  the
  provisions  of  subdivision ten-a of section eighteen hundred fifty-four
  of the public authorities law.
    4. The moneys of the fund shall be paid out on the audit  and  warrant
  of the comptroller on vouchers certified or approved by the chair of the
  New York state energy research and development authority.
    5.  The  chair  of  the New York state energy research and development
  authority shall establish guidelines pertaining  to  the  allocation  of
  moneys from this fund.