Section 457. Regional distribution of petroleum business tax obligations from the dedicated highway and bridge trust fund

For the  period  April
  first,   nineteen   hundred  ninety-three  through  March  thirty-first,
  nineteen hundred ninety-seven, the amount of three billion nine  hundred
  seventy-five million dollars in projected obligations from the dedicated
  highway  and  bridge  trust  fund related to deposits made in accordance
  with section three hundred one-j of the tax law shall be utilized within
  the regions of the state in accordance with the following allocations:
    (i) Hudson Valley Region, consisting of the counties  of  Westchester,
  Rockland,  Putnam,  Dutchess,  Columbia,  Orange  and  Ulster  Counties;
  fourteen percent or up to five hundred fifty-six  million  five  hundred
  thousand dollars ($556,500,000);
    (ii)  Long  Island  Region, consisting of Nassau and Suffolk Counties;
  twenty-three percent or up to nine hundred fourteen million two  hundred
  fifty thousand dollars ($914,250,000);
    (iii) New York City Region, consisting of Richmond, Kings, Queens, New
  York  and  Bronx  Counties;  twenty-three  percent or up to nine hundred
  fourteen million two hundred fifty thousand dollars ($914,250,000);
    (iv) Upstate region, consisting of all counties of New York state  not
  included  in  subparagraphs (i), (ii), and (iii); forty percent or up to
  one billion five hundred ninety million dollars; ($1,590,000,000).
    In addition, it is the intent of the governor  of  the  state  of  New
  York,  the  temporary  president  of  the  senate and the speaker of the
  assembly, on or before June fifteenth, nineteen hundred ninety-three, to
  enter  into  a  memorandum  of  understanding  with   respect   to   the
  implementation  of  state  and local highway projects to be supported by
  dedicated funding pursuant to this chapter. The minority leaders of  the
  senate   and   assembly   may   also   enter  into  such  memorandum  of
  understanding. This memorandum of understanding will be based  upon  the
  dedicated  funding provided under the dedicated highway and bridge trust
  fund, less required state matches to federal funds.