Bill Text: NY A01635 | 2019-2020 | General Assembly | Introduced

Bill Title: Provides that certain revenue generated from video lottery terminals at the Aqueduct racetrack be used solely for the maintenance and upgrading of the Aqueduct racetrack.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-01-16 - referred to ways and means [A01635 Detail]

Download: New_York-2019-A01635-Introduced.html

                STATE OF NEW YORK
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 16, 2019
        Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
          Committee on Ways and Means
        AN ACT to amend the tax law, in relation to the disposition  of  certain
          revenue from the video lottery gaming facility at Aqueduct racetrack
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph 3 of subdivision f of section  1612  of  the  tax
     2  law,  as  amended by chapter 174 of the laws of 2013, is amended to read
     3  as follows:
     4    3. Four percent of the total revenue wagered after payout of prizes to
     5  be deposited into an account of the franchised  corporation  established
     6  pursuant  to section two hundred six of the racing, pari-mutuel wagering
     7  and breeding law to be used for capital expenditures in maintaining  and
     8  upgrading  Aqueduct racetrack[, Belmont Park racetrack and Saratoga race
     9  course].
    10    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.