Bill Text: NY A00961 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to video gaming machines and disposition of revenues.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2016-01-12 - amended on third reading 961a [A00961 Detail]
Download: New_York-2015-A00961-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 961--A Cal. No. 45 2015-2016 Regular Sessions IN ASSEMBLY January 8, 2015 ___________ Introduced by M. of A. PRETLOW -- read once and referred to the Commit- tee on Ways and Means -- advanced to a third reading, amended and ordered reprinted, retaining its place on the order of third reading AN ACT to amend the tax law, in relation to video gaming machines and disposition of revenues The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Clause (H) of subparagraph (ii) of paragraph 1 of subdivi- 2 sion b of section 1612 of the tax law, as amended by section 1 of part 3 MM of chapter 59 of the laws of 2015, is amended to read as follows: 4 (H) notwithstanding clauses (A), (B), (C), (D), (E), (F) and (G) of 5 this subparagraph, the track operator of a vendor track shall be eligi- 6 ble for a vendor's capital award of up to four percent of the total 7 revenue wagered at the vendor track after payout for prizes pursuant to 8 this chapter, which shall be used exclusively for capital project 9 investments to improve the facilities of the vendor track which promote 10 or encourage increased attendance at the video lottery gaming facility 11 including, but not limited to hotels, other lodging facilities, enter- 12 tainment facilities, retail facilities, dining facilities, events 13 arenas, parking garages and other improvements that enhance facility 14 amenities; provided that such capital investments shall be approved by 15 the division, in consultation with the state racing and wagering board, 16 and that such vendor track demonstrates that such capital expenditures 17 will increase patronage at such vendor track's facilities and increase 18 the amount of revenue generated to support state education programs. The 19 annual amount of such vendor's capital awards that a vendor track shall 20 be eligible to receive shall be limited to two million five hundred 21 thousand dollars, except for Aqueduct racetrack, for which there shall 22 be no vendor's capital awards. Except for tracks having less than one 23 thousand [one] nine hundred video gaming machines, and except for a 24 vendor track located west of State Route 14 from Sodus Point to the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05388-03-6
