1. State assistance shall be apportioned and paid in accordance with this subdivision to each political subdivision of the state specified in paragraph (a) of subdivision two of section thirty-nine of the judiciary law that has entered into a lease, sublease or other agreement with the dormitory authority pursuant to section sixteen hundred eighty-b of the public authorities law or that after July first, nineteen hundred seventy-seven either entered into a lease, sublease or other agreement with the dormitory authority pursuant to section sixteen hundred eighty-a of the public authorities law or undertook to design, acquire, construct, reconstruct, rehabilitate or improve facilities for the transaction of business by the unified court system and issued notes or bonds to fund the cost thereof; provided, however, that no political subdivision issuing notes or bonds after the effective date of this section shall be entitled to state assistance pursuant to this subdivision unless, prior to the issuance of such notes or bonds, the chief administrator of the courts certifies that the court facility or facilities in connection with which such notes or bonds are to be issued are consistent with the capital plan approved pursuant to section sixteen hundred eighty-c of the public authorities law. The amount of assistance to be paid hereunder during each state fiscal year commencing on or after April first, nineteen hundred eighty-eight, shall be equal to (a) a percentage of the interest on notes and bonds of the dormitory authority issued to provide court facilities, as defined in section sixteen hundred seventy-six of the public authorities law, included in the rentals or other payments required to be made during such state fiscal year under each such lease, sublease or other agreement with the dormitory authority and the interest on such notes and bonds included in the rentals or other payments required to be made during each of the state fiscal years commencing prior to April first, nineteen hundred eighty-eight under each such lease, sublease or other agreement with the dormitory authority and (b) a percentage of the interest on notes or bonds issued by such political subdivision after July first, nineteen hundred seventy-seven in connection with facilities for the transaction of business by the unified court system, to be paid during such state fiscal year and the interest on such notes and bonds paid by such political subdivision during each of the state fiscal years commencing prior to April first, nineteen hundred eighty-eight. The percentage of such interest shall be determined as follows: (i) if the taxing capacity of the political subdivision is not more than eighty-five percent of the average taxing capacity, thirty-three percent; (ii) if the taxing capacity of the political subdivision is more than eighty-five percent and not more than ninety-one percent of the average taxing capacity, thirty-one percent; (iii) if the taxing capacity of the political subdivision is more than ninety-one percent and not more than ninety-nine percent of the average taxing capacity, twenty-nine percent; (iv) if the taxing capacity of the political subdivision is more than ninety-nine percent and not more than one hundred seven percent of the average taxing capacity, twenty-seven percent; (v) if the taxing capacity of the political subdivision is more than one hundred seven percent and not more than one hundred fifteen percent of the average taxing capacity, twenty-six percent; and (vi) if the taxing capacity of the political subdivision is more than one hundred fifteen percent of the average taxing capacity, twenty-five percent. Notwithstanding the foregoing, in the event the dormitory authority enters into an interest rate exchange agreement or similar agreement pursuant to sections sixteen hundred eighty-b and twenty-nine hundred twenty-six of the public authorities law with respect to fixed rate bonds, the amount of state assistance payable in accordance with this subdivision on an annual basis shall not exceed the amount that would have been payable without giving effect to such interest rate exchange agreement or similar agreement; provided further, that no payments payable on account of an interest rate exchange agreement or similar agreement, other than the periodic floating rate payments to be made by or for the political subdivision resulting in a reduction in the amount of interests payable by the political subdivision to the dormitory authority on account of the bonds or notes issued by such authority, shall be aidable for purposes of state assistance payable pursuant to this subdivision.