Bill Text: NY S02433 | 2013-2014 | General Assembly | Amended


Bill Title: Authorizes racetracks and off-track betting corporations to offer rebates on pari-mutuel wagers made by bettors to reward horse racing patrons for their participation at race meetings.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2013-06-18 - SUBSTITUTED BY A2329A [S02433 Detail]

Download: New_York-2013-S02433-Amended.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2433--A
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 17, 2013
                                      ___________
       Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Racing, Gaming and  Wager-
         ing  --  reported  favorably  from said committee and committed to the
         Committee on Finance -- committee discharged,  bill  amended,  ordered
         reprinted as amended and recommitted to said committee
       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 109-b to read as follows:
    3    S 109-B. 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
    9  BY  THE  COMMISSION  AND  MAY INCLUDE, BUT NOT BE LIMITED TO, REFUNDS TO
   10  HOLDERS OF PARI-MUTUEL WAGERING TICKETS OF ANY PORTION OR PERCENTAGE  OF
   11  THE  FULL  FACE  VALUE OF A PARI-MUTUEL WAGER, INCREASING THE PAYOFF OF,
   12  PAYING A BONUS ON A WINNING PARI-MUTUEL TICKET, AWARDS  OF  MERCHANDISE,
   13  SERVICES  SUCH  AS MEALS, PARKING, ADMISSION, SEATING AND PROGRAMS, FREE
   14  OR REDUCED COST PARI-MUTUEL WAGERS AND MONETARY  AWARDS,  OR  ANY  OTHER
   15  BENEFIT  THAT  THE  STATE  GAMING COMMISSION DEEMS APPROPRIATE TO REWARD
   16  HORSE RACING PATRONS FOR THEIR PARTICIPATION AT RACE MEETINGS.
   17    2. THE STATE GAMING COMMISSION, UPON APPLICATION OF AN ASSOCIATION  OR
   18  CORPORATION  CONDUCTING  PARI-MUTUEL  BETTING AT A RACE MEETING ON RACES
   19  RUN THEREAT, MAY APPROVE THE PAYMENT OF REBATES BY SUCH  ASSOCIATION  OR
   20  CORPORATION FOR A REBATE PROGRAM FOR A PERIOD OF UP TO ONE YEAR, SUBJECT
   21  TO THE FOLLOWING REQUIREMENTS:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06752-04-3
       S. 2433--A                          2
    1    A.  THE  APPLICANT  DISCLOSES  THE EXTENT OF THE REBATE PROGRAM.  SUCH
    2  DISCLOSURE SHALL INCLUDE A LISTING OF THE MONETARY VALUE OF ALL  REBATES
    3  PAID  TO  BETTORS  DURING  THE PREVIOUS CALENDAR YEAR, AND THE TERMS AND
    4  CONDITIONS GOVERNING THE AWARD OF REBATES TO BETTORS  FOR  THE  CALENDAR
    5  YEAR TO WHICH THE APPLICATION APPLIES;
    6    B.  THE  APPLICANT  PROVIDES ASSURANCES THAT THE VALUES OF THE REBATES
    7  ARE DETERMINED SOLELY BY (I) ATTENDANCE AT ONE OR  MORE  RACE  MEETINGS,
    8  (II)  THE  AMOUNT  WAGERED  BY A BETTOR, (III) THE AMOUNT PAYABLE TO THE
    9  ASSOCIATION OR CORPORATION ON EACH  WAGER,  OR  (IV)  HOW  FREQUENTLY  A
   10  BETTOR WAGERS;
   11    C.  THE  ASSOCIATION  OR  CORPORATION  MAINTAINS RECORDS OF ALL WAGERS
   12  SUBJECT TO A REBATE, FOR A PERIOD OF NOT LESS THAN THREE YEARS; AND
   13    D. THE APPLICANT DEMONSTRATES THAT SUCH REBATES ARE IN THE BEST INTER-
   14  ESTS OF HORSE RACING.
   15    3. REGIONAL OFF-TRACK BETTING CORPORATIONS MAY OFFER REBATES ON WAGERS
   16  MADE ON RACES RUN BY ANY ASSOCIATION OR CORPORATION WHICH OFFERS REBATES
   17  PURSUANT  TO  THIS  SECTION.  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
   18  PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
   19    4.  UPON  THE  APPROVAL  OF  AN  ASSOCIATION OR CORPORATION CONDUCTING
   20  PARI-MUTUEL BETTING AT A RACE MEETING  ON  RACES  RUN  THEREAT,  ANOTHER
   21  RACING  ASSOCIATION  OR  CORPORATION MAY PROVIDE BETTORS WITH REBATES ON
   22  WAGERS ON RACES RUN AT THE RACETRACK OPERATED BY SUCH APPROVING  ASSOCI-
   23  ATION  OR  CORPORATION.  ALL  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
   24  PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
   25    S 2. This act shall take effect on the one hundred eightieth day after
   26  it shall have become a law;  provided  that  effective  immediately  any
   27  rules,   regulations   and   applications  necessary  to  implement  the
   28  provisions of this act on  its  effective  date  are  authorized  to  be
   29  completed on or before such date.
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