Section 99-K. Child performer's holding fund

1. There is hereby established
  in  the  joint  custody of the state comptroller and the commissioner of
  taxation and  finance  a  special  revenue  fund  known  as  the  "child
  performer's holding fund".
    2.  Such  fund shall consist of revenues received and interest accrued
  pursuant to part seven of article  seven  of  the  estates,  powers  and
  trusts  law, and all other monies appropriated, credited, or transferred
  thereto from any other fund or source pursuant to law.
    3. Monies of the fund shall be distributed to the child performer upon
  receipt of the child performer trust fund  pursuant  to  part  seven  of
  article  seven  of  the  estates, powers and trusts law. The comptroller
  shall notify the commissioner of the department of labor  within  thirty
  days  of  receipt  of  the funds and the child performer's name and last
  known  address.  Within  thirty  days  of  receipt  of  the  funds,  the
  comptroller  shall give notice to the parent or guardian about funds and
  the procedures to transfer funds  from  the  comptroller  to  the  child
  performer  trust fund account in the name of the child performer. Monies
  not claimed shall be used  solely  to  fund  programs  for  the  health,
  education  and welfare of child performers. The comptroller shall submit
  a report about the child performer's holding fund to the  governor,  the
  temporary  president  of  the  senate  and  the  speaker of the assembly
  concerning the implementation of this section.