Doesn't matter...
'Cuz the y-valve in the line between the toilet and the tank only determines whether waste goes directly overboard or INTO the tank. Waste is pumped OUT of the tank or dumped at sea through a different hose...in most cases one that comes out the tank at the bottom, but can be on the top of the tank with a pickup tube inside the tank to the bottom. There may be a y-valve in that line...or just a tee or wye fitting.However unless you plan to do some serious offshore cruising, the whole question may be moot...'cuz there's no place in LIS where it's legal to dump a tank OR discharge the toilet directly overboard. To do either one, you must be in open ocean at least 3 miles from the nearest point of land on the whole US coastline--which for you would be in the Atlantic at least 3 miles south of LI.