Bill Text: NY S07390 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to resources of the New York state thoroughbred breeding and development fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-05-04 - REFERRED TO RACING, GAMING AND WAGERING [S07390 Detail]

Download: New_York-2011-S07390-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7390
                                   I N  S E N A T E
                                      May 4, 2012
                                      ___________
       Introduced  by Sen. McDONALD -- read twice and ordered printed, and when
         printed to be committed to the Committee on Racing, Gaming and  Wager-
         ing
       AN  ACT  to  amend the racing, pari-mutuel wagering and breeding law, in
         relation to resources of 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. Subparagraph (i) of paragraph d of subdivision 2 of section
    2  254 of the racing, pari-mutuel wagering and breeding law, as amended  by
    3  chapter 18 of the laws of 2008, is amended to read as follows:
    4    (i)  An amount as shall be determined by the fund but not in excess of
    5  forty-four percent to provide purse moneys [for races]  exclusively  for
    6  New  York-breds  ENTERED IN ALL RACES, the conditions of which have been
    7  approved by the fund.  Provided, however, that the fund shall set  aside
    8  forty  percent  of  the  funds allotted under this subdivision to tracks
    9  operated by corporations licensed or franchised in accordance  with  the
   10  provisions  of  section  two  hundred five or section two hundred six of
   11  this article except that in addition to the other  amounts  allotted  by
   12  the  fund  under  this  paragraph, seventy-five percent of fund revenues
   13  derived from payments received in accordance  with  subdivision  one  of
   14  section  five  hundred  twenty-seven  of  this chapter shall be allotted
   15  exclusively to purses at a track  operated  by  a  corporation  licensed
   16  under the provisions of section two hundred five of this article.
   17    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15725-01-2