Bill Text: NY A06124 | 2015-2016 | General Assembly | Amended

New York Assembly Bill 6124 (Prior Session Legislation)

Bill Title: Relates to percent of wagers made at off-track betting facilities conducted by in-state thoroughbred racing corporations.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Vetoed) 2016-08-19 - tabled [A06124 Detail]

Download: New_York-2015-A06124-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                         6124--C
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                     March 16, 2015
                                       ___________
        Introduced  by  M.  of A. PRETLOW, McDONALD -- read once and referred to
          the Committee on Racing and Wagering  --  committee  discharged,  bill
          amended,  ordered reprinted as amended and recommitted to said commit-
          tee -- recommitted to the Committee on Racing and Wagering in  accord-
          ance  with  Assembly  Rule  3,  sec.  2  -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee  --  again  reported  from said committee with amendments, ordered
          reprinted as amended and recommitted to said committee
        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation to contribution requirements for the capital acquisition fund
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 1 of section 509-a of the  racing,  pari-mutuel
     2  wagering  and breeding law, as added by chapter 681 of the laws of 1989,
     3  is amended to read as follows:
     4    (1) no contribution shall exceed the amount  of  one  percent  of  the
     5  total  pari-mutuel  wagering pools for the quarter in which the contrib-
     6  ution is made; provided, however, that up  to  seventy-five  percent  of
     7  such  amount  may  be used by the corporation for any corporate purpose,
     8  provided that:
     9    (a) such corporation is not utilizing its capital acquisition fund for
    10  corporate purposes as provided in section three of part  II  of  chapter
    11  fifty-eight of the laws of two thousand twelve; and
    12    (b) such corporation shall submit a financial plan for the use of such
    13  funds  to  the  commission  for  approval by September thirtieth of each
    14  year, which shall include the amount and specific use of such funds, and
    15  any additional information that the commission deems appropriate.
    16    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09871-04-6