Albany -- Governor Eliot Spitzer announced Thursday that he has signed legislation that will increase revenue to the state’s Environmental Protection Fund from $225 million to $250 million in the 2008-09 fiscal year, and to $300 million in fiscal year 2009-10 and thereafter.

The Environmental Protection Fund is primarily financed by the real estate transfer tax. Established in 1993, the Fund has gradually increased over time and provides money for recycling, landfill closure, urban parks, farmland preservation, smart growth, open space, water quality, pollution prevention and a range of other environmental programs administered by the Department of Environmental Conservation, the Office of Parks, Recreation and Historic Preservation, and the Department of Agriculture and Markets.

Adoption of this bill sets aside money that can be used by the Environmental Protection Fund while still requiring annual appropriations in future state budgets.