Bill Text: NY A10145 | 2023-2024 | General Assembly | Introduced

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Bill Title: Creates the jockey health insurance reserve fund for the payment of premiums not yet paid; provides for the return of funds if such reserve fund becomes no longer necessary.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2024-05-14 - reported referred to ways and means [A10145 Detail]

Download: New_York-2023-A10145-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10145

                   IN ASSEMBLY

                                      May 10, 2024
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Pretlow) --
          read once and referred to the Committee on Real Property Taxation

        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation to the creation of the jockey health insurance reserve 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 221-a of the  racing,  pari-mutuel
     2  wagering  and  breeding  law,  as  amended by chapter 243 of the laws of
     3  2020, is amended to read as follows:
     4    1. A franchised corporation shall, as a condition of racing, establish
     5  a program to administer the purchase of health  insurance  for  eligible
     6  jockeys.
     7    (a)  Such  program shall be funded through the deposit of one and one-
     8  half percent of the gross purse enhancement amount  from  video  lottery
     9  gaming  at a thoroughbred track pursuant to paragraph two of subdivision
    10  b and paragraph one of subdivision f of section sixteen  hundred  twelve
    11  of  the tax law. The franchised corporation shall establish a segregated
    12  account for the receipt of these monies and these  monies  shall  remain
    13  separate  from  any other funds. Any corporation or association licensed
    14  pursuant to this article shall pay into  such  account  any  amount  due
    15  within  ten  days  of the receipt of revenue pursuant to section sixteen
    16  hundred twelve of the tax law.  Any  portion  of  such  funding  to  the
    17  account  unused  during  a  calendar  year, less an amount sufficient to
    18  cover anticipated premium liabilities over the next sixty days, shall be
    19  [returned on a pro rata basis in accordance with the amounts  originally
    20  contributed  and  shall  be  used for the purpose of enhancing purses at
    21  such tracks] deposited into the reserve  fund  established  pursuant  to
    22  paragraph  (b) of this subdivision.  Provided, however, if a corporation
    23  or association licensed pursuant to this article provides an alternative
    24  source of funding for this program, an amount equal to this  alternative
    25  funding,  but  not in excess of the amount originally contributed during
    26  the year from the gross purse  enhancement  amount  from  video  lottery
    27  gaming  attributable  to  such  corporation  or  association,  shall  be
    28  returned to the corporation or association and used for the  purpose  of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15452-03-4
        A. 10145                            2

     1  enhancing purses at such track.  Provided, further, any such alternative
     2  source of funding must be approved by the commission.
     3    (b)  Provided, however, an additional segregated account may be estab-
     4  lished with such monies as a reserve fund for the  payment  of  premiums
     5  not  yet  paid. The amount paid into such fund during any calendar year,
     6  if any, shall be upon the approval of the franchised corporation and the
     7  jockey's organization that represents  at  least  fifty-one  percent  of
     8  eligible  active  jockeys.   If, after the establishment of such fund, a
     9  determination is made that such fund is no  longer  needed,  the  monies
    10  remaining  in such fund shall be returned on a pro rata basis in accord-
    11  ance with the amounts originally contributed and shall be used  for  the
    12  purposes of enhancing purses at such tracks.
    13    § 2. This act shall take effect immediately.