l. Each appropriation to the extent that it shall not have been expended or obligated, shall lapse at the close of the fiscal year for which made, except that an appropriation for a capital project shall continue in force until the purposes for which it was made shall have been accomplished or abandoned. 2. For the purposes of this section 'capital project' shall mean a. any physical public betterment or improvement or any preliminary studies and surveys relative thereto, b. land or rights in land, c. any furnishings, machinery, apparatus or equipment for any physical public betterment or improvement when such betterment or improvement is first constructed or acquired, or d. any combination of paragraphs a, b, and c.
New York Legal Code