Bill Text: NY S07856 | 2021-2022 | General Assembly | Introduced

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Bill Title: Prohibits regional off-track betting corporations from providing items of value exceeding fifteen dollars to any board member, officer, or employee of the corporation, any contractor, subcontractor, consultant, or other agent of the corporation, or any spouse, child, sibling or parent of such persons; adds reporting requirements for regional off-track betting corporations.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2022-05-24 - referred to racing and wagering [S07856 Detail]

Download: New_York-2021-S07856-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7856

                    IN SENATE

                                    January 12, 2022
                                       ___________

        Introduced  by  Sen. KENNEDY -- 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 prohibiting regional off-track betting  corporations  from
          providing  items of value exceeding fifteen dollars to certain associ-
          ates of the corporation

          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 503-b to read as follows:
     3    § 503-b. Promotional spending restricted from corporation  associates.
     4  No  regional  off-track  betting corporation or any subsidiary wholly or
     5  partially controlled by such  regional  off-track  betting  corporation,
     6  including  but  not  limited to video lottery terminal facilities, shall
     7  make available to any board member, officer, or employee of  the  corpo-
     8  ration, any contractor, subcontractor, consultant, or other agent of the
     9  corporation,  or  any  spouse,  child, sibling or parent residing in the
    10  principal place of abode of any of the foregoing persons, or  any  busi-
    11  ness,  professional,  or  personal  associates  of  any of the foregoing
    12  persons, any event tickets, beverages, food, or  other  thing  of  value
    13  that  exceeds a value of fifteen dollars, except as otherwise explicitly
    14  provided in this chapter. This limitation shall apply, but not be limit-
    15  ed to, the marketing plan and promotional activities of the corporation.
    16  All promotional and marketing activities of  the  corporation  shall  be
    17  subject  to approval and oversight by the gaming commission, which shall
    18  ensure that such  marketing  plan  and  activities  of  the  corporation
    19  prohibit self-dealing.
    20    § 2. Section 517 of the racing, pari-mutuel wagering and breeding law,
    21  as  amended  by  chapter  243 of the laws of 2020, is amended to read as
    22  follows:
    23    § 517. Annual reports. In addition to the reports required by  article
    24  five-a  of this chapter, within one hundred twenty days after the end of
    25  the fiscal year of the corporation, the directors thereof  shall  submit

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13384-02-1
        S. 7856                             2

     1  to  the  participating counties, the commission, the temporary president
     2  of the senate, the speaker of the assembly, and the state comptroller  a
     3  complete and detailed audited report setting forth:
     4    1. its operations and accomplishments during such fiscal year;
     5    2. its receipts and expenditures during such fiscal year in accordance
     6  with  categories  or  classifications established by the corporation for
     7  its own operating and capital outlay purposes;
     8    3. its assets and liabilities at the end of such fiscal year including
     9  a schedule of its bonds, notes or other obligations and  the  status  of
    10  reserves, depreciations, special, sinking or other funds;
    11    4.  details of branch offices being planned or in the process of being
    12  constructed or otherwise established and branch offices that  have  been
    13  constructed or established;
    14    5.  details  of  its marketing and promotional plans, the structure of
    15  such plans, any spending pursuant to such plans, and how such plans have
    16  or are anticipated to benefit the operations and financial  position  of
    17  the  corporation, as well as any measures taken to prohibit self-dealing
    18  in conflict of section five hundred three-b of this article; and
    19    [5] 6. such other information relating to the operations of the corpo-
    20  ration as shall be deemed pertinent by the directors, the  participating
    21  counties, the commission, and the state comptroller.
    22    §  3.  This  act  shall take effect on the sixtieth day after it shall
    23  have become a law.