Bill Text: NY A03648 | 2011-2012 | General Assembly | Introduced

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Bill Title: Authorizes racetracks and off-track betting corporations to offer rebates on pari-mutuel wagers made by bettors.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2012-02-06 - REFERRED TO RACING, GAMING AND WAGERING [A03648 Detail]

Download: New_York-2011-A03648-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3648
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 26, 2011
                                      ___________
       Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
         tee on Racing and Wagering
       AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
         relation to authorizing the payment of rebates on pari-mutuel wagers
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The  racing,  pari-mutuel  wagering  and  breeding  law  is
    2  amended by adding a new section 113 to read as follows:
    3    S  113.  REBATES.  1. FOR THE PURPOSES OF THIS SECTION, "REBATE" SHALL
    4  MEAN A PORTION OF PARI-MUTUEL WAGERS, OTHERWISE PAYABLE  TO  AN  ASSOCI-
    5  ATION OR CORPORATION CONDUCTING PARI-MUTUEL BETTING AT A RACE MEETING ON
    6  RACES  RUN  THEREAT,  WHICH  IS  PAID TO HOLDERS OF PARI-MUTUEL WAGERING
    7  TICKETS AND WHICH REDUCES THE AMOUNT OTHERWISE PAYABLE TO  SUCH  ASSOCI-
    8  ATION OR CORPORATION. SUCH TERM SHALL BE DEFINED IN RULES PROMULGATED BY
    9  THE  BOARD AND MAY INCLUDE, BUT NOT BE LIMITED TO, REFUNDS TO HOLDERS OF
   10  PARI-MUTUEL WAGERING TICKETS OF ANY PORTION OR PERCENTAGE  OF  THE  FULL
   11  FACE  VALUE  OF  A PARI-MUTUEL WAGER, INCREASING THE PAYOFF OF, PAYING A
   12  BONUS ON A WINNING PARI-MUTUEL TICKET OR ANY  OTHER  BENEFIT  THE  BOARD
   13  DEEMS  APPROPRIATE TO REWARD RACING FAN PATRONS.  REBATES SHALL INCLUDE,
   14  BUT NOT BE LIMITED TO, AWARDS OF MERCHANDISE, SERVICES  SUCH  AS  MEALS,
   15  PARKING,  ADMISSION, SEATING AND PROGRAMS, FREE OR REDUCED COST PARI-MU-
   16  TUEL WAGERS, AND MONETARY AWARDS.
   17    2. THE RACING AND WAGERING BOARD, UPON APPLICATION OF  AN  ASSOCIATION
   18  OR CORPORATION CONDUCTING PARI-MUTUEL BETTING AT A RACE MEETING ON RACES
   19  RUN THEREAT, MAY ANNUALLY APPROVE THE PAYMENT OF REBATES BY SUCH ASSOCI-
   20  ATION OR CORPORATION, SUBJECT TO THE FOLLOWING REQUIREMENTS:
   21    A.  THE  APPLICANT  FULLY  DISCLOSES THE EXTENT OF THE REBATE PROGRAM.
   22  FULL DISCLOSURE SHALL INCLUDE THE DISCLOSURE OF THE  MONETARY  VALUE  OF
   23  ALL  REBATES  PAID TO BETTORS DURING THE PREVIOUS CALENDAR YEAR, AND THE
   24  TERMS AND CONDITIONS GOVERNING THE AWARD OF REBATES TO BETTORS  FOR  THE
   25  CALENDAR YEAR TO WHICH THE APPLICATION APPLIES;
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05802-01-1
       A. 3648                             2
    1    B.  THE  APPLICANT  PROVIDES ASSURANCES THAT THE VALUES OF THE REBATES
    2  ARE DETERMINED SOLELY BY (I) THE AMOUNT WAGERED BY A  BETTOR,  (II)  THE
    3  AMOUNT  PAYABLE  TO  THE  ASSOCIATION  OR CORPORATION ON EACH WAGER, AND
    4  (III) HOW FREQUENTLY A BETTOR WAGERS;
    5    C.  THE  ASSOCIATION  OR  CORPORATION  MAINTAINS RECORDS OF ALL WAGERS
    6  SUBJECT TO A REBATE, FOR A PERIOD OF NOT LESS THAN THREE YEARS; AND
    7    D. THE APPLICANT DEMONSTRATES THAT SUCH REBATES ARE IN THE BEST INTER-
    8  ESTS OF HORSE RACING.
    9    3. REGIONAL OFF-TRACK BETTING CORPORATIONS MAY OFFER REBATES ON WAGERS
   10  MADE ON RACES RUN BY ANY ASSOCIATION OR CORPORATION WHICH OFFERS REBATES
   11  PURSUANT  TO  THIS  SECTION.  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
   12  PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
   13    4.  UPON  THE  APPROVAL  OF  AN  ASSOCIATION OR CORPORATION CONDUCTING
   14  PARI-MUTUEL BETTING AT A RACE MEETING  ON  RACES  RUN  THEREAT,  ANOTHER
   15  RACING  ASSOCIATION  OR  CORPORATION MAY PROVIDE BETTORS WITH REBATES ON
   16  WAGERS ON RACES RUN AT THE RACETRACK OPERATED BY SUCH APPROVING  ASSOCI-
   17  ATION  OR  CORPORATION.  ALL  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
   18  PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
   19    S 2. This act shall take effect on the first of January next  succeed-
   20  ing  the  date on which it shall have become a law, provided that effec-
   21  tive immediately any rules, regulations and  applications  necessary  to
   22  implement  the  provisions of this act on its effective date are author-
   23  ized to be completed on or before such date.