Bill Text: NY A09778 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to the New York State Thoroughbred Breeding and Development Fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-04-02 - referred to racing and wagering [A09778 Detail]

Download: New_York-2011-A09778-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9778
                                 I N  A S S E M B L Y
                                     April 2, 2012
                                      ___________
       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  the New York state thoroughbred breeding and development
         fund
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The second undesignated paragraph and the closing paragraph
    2  of  subdivision 2 of section 254 of the racing, pari-mutuel wagering and
    3  breeding law, as amended by chapter 18 of the laws of 2008,  is  amended
    4  to read as follows:
    5    [All  moneys of the fund in excess of seventy-five thousand dollars on
    6  hand at the end of each calendar year shall be apportioned  between  and
    7  paid  to the state and the regional off-track betting corporations based
    8  on the level of contributions to such fund during the year by the racing
    9  corporations and the regional off-track  betting  corporations,  respec-
   10  tively.  Payment  of  such  money  to  the  state and such corporations,
   11  respectively, shall be made by March fifteenth of the year following the
   12  close of such calendar year.
   13    That portion returned to the regional off-track  betting  corporations
   14  shall  be distributed prior to May first of such year to the participat-
   15  ing local governments within each region in the same proportion  as  the
   16  net  earnings  of  such  corporation  for  the  prior calendar year were
   17  distributed.]
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15195-01-2