Bill Text: NY S06405 | 2017-2018 | General Assembly | Introduced

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Bill Title: Provides for the calculation of vendor fees for the operation of video lottery gaming at certain race tracks; removes language limiting amounts over 2013 levels.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Engrossed - Dead) 2018-06-20 - referred to ways and means [S06405 Detail]

Download: New_York-2017-S06405-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6405
                               2017-2018 Regular Sessions
                    IN SENATE
                                      May 17, 2017
                                       ___________
        Introduced  by Sens. BONACIC, MARCHIONE -- read twice and ordered print-
          ed, and when printed to be  committed  to  the  Committee  on  Racing,
          Gaming and Wagering
        AN  ACT  to  amend the tax law, in relation to the disposition of vender
          fees for the operation of video lottery gaming at certain race tracks
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subdivision f-1 of section 1612 of the tax law, as amended
     2  by chapter 175 of the laws of 2013, is amended to read as follows:
     3    f-1. As consideration for operation of video lottery  gaming  facility
     4  located in the county of Nassau or Suffolk and operated by a corporation
     5  established pursuant to section five hundred two of the racing, pari-mu-
     6  tuel  wagering and breeding law, the division shall cause the investment
     7  in the racing industry of the following percentages of the vendor fee to
     8  be deposited or paid as follows:
     9    1. Two and three tenths percent of the total wagered after  payout  of
    10  prizes  for  the  purpose  of  enhancing  purses  at Aqueduct racetrack,
    11  Belmont Park racetrack and Saratoga  race  course[,  provided,  however,
    12  that  any  amount  that is in excess of the amount necessary to maintain
    13  purse support from video lottery gaming at Aqueduct  racetrack,  Belmont
    14  Park  racetrack  and  Saratoga race course at the same level realized in
    15  two thousand thirteen, to be adjusted by the consumer  price  index  for
    16  all  urban consumers, as published annually by the United States depart-
    17  ment of labor, bureau of labor statistics, shall instead be returned  to
    18  the commission].
    19    2. five tenths percent of the total wagered after payout of prizes for
    20  the appropriate breeding fund for the manner of racing at Aqueduct race-
    21  track,  Belmont  Park  racetrack  and  Saratoga  race course[, provided,
    22  however, that any amount that is in excess of the  amount  necessary  to
    23  maintain payments from video lottery gaming at Aqueduct racetrack at the
    24  same  level  realized  in  two  thousand thirteen, to be adjusted by the

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11784-01-7
        S. 6405                             2

     1  consumer price index for all urban consumers, as published  annually  by
     2  the United States department of labor, bureau of labor statistics, shall
     3  instead be returned to the commission].
     4    3.  one  and  three  tenths percent of the total revenue wagered after
     5  payout of prizes to be deposited  into  an  account  of  the  franchised
     6  corporation  established  pursuant  to  section  two  hundred six of the
     7  racing, pari-mutuel wagering and breeding law to  be  used  for  capital
     8  expenditures  in  maintaining  and upgrading Aqueduct racetrack, Belmont
     9  Park racetrack and Saratoga race course[, provided,  however,  that  any
    10  amount  that  is  in excess of the amount necessary to maintain payments
    11  for capital expenditures from video lottery gaming at Aqueduct racetrack
    12  at the same level realized in two thousand thirteen, to be  adjusted  by
    13  the  consumer price index for all urban consumers, as published annually
    14  by the United States department of labor, bureau  of  labor  statistics,
    15  shall instead be returned to the commission].
    16    4.  Nine  tenths percent of the total revenue wagered after payout for
    17  prizes to be deposited into an account  of  the  franchised  corporation
    18  established  pursuant to section two hundred six of the racing, pari-mu-
    19  tuel wagering and breeding law  to  be  used  for  general  thoroughbred
    20  racing  operations  at  Aqueduct  racetrack,  Belmont Park racetrack and
    21  Saratoga race course[, provided, however, that any  amount  that  is  in
    22  excess  of  the  amount  necessary  to  maintain  payments  for  general
    23  thoroughbred racing operations from video  lottery  gaming  at  Aqueduct
    24  racetrack  at  the  same  level realized in two thousand thirteen, to be
    25  adjusted by the  consumer  price  index  for  all  urban  consumers,  as
    26  published  annually  by the United States department of labor, bureau of
    27  labor statistics, shall instead be returned to the commission].
    28    § 2. This act shall take effect immediately.