Bill Text: NJ A3580 | 2010-2011 | Regular Session | Introduced
Bill Title: Allows casino to pay up to 6% or 9% of parimutuel pool to out-of-State racetrack for simucast races; provides casino retains 55% of certain remaining takeout rate amounts.**
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2011-06-20 - Referred to Senate Budget and Appropriations Committee [A3580 Detail]
Download: New_Jersey-2010-A3580-Introduced.html
Sponsored by:
Assemblyman JOHN J. BURZICHELLI
District 3 (Salem, Cumberland and Gloucester)
SYNOPSIS
Allows casino and out-of-State racetrack to negotiate amount casino will pay for simulcast races.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning certain payments by casinos to out-of-State racetracks and amending P.L.1992, c.19.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 11 of P.L.1992, c.19 (C.5:12-201) is amended to read as follows:
11. [a. Except as provided in subsection b. of this section, a] A casino which receives a simulcast horse race from an out-of-State sending track shall [not] pay the out-of-State sending track for the transmission [an] such amount [equal to more than 3.5% of the parimutuel pool on each race. If the casino negotiates an agreement to pay the out-of-State sending track an amount equal to less than 3.5% of the parimutuel pool, the casino shall be entitled to retain the difference between the amount agreed upon and 3.5%] , if any, as may be agreed upon by the casino and the out-of-State sending track.
[b. Subject to the approval of the New Jersey Racing Commission and with respect to no more than 28 races per casino per calendar year, plus the number of races run annually at the Breeders' Cup World Championships, a casino may pay an out-of-State sending track an amount equal to not more than 6% of the parimutuel pool for the transmission of a race. If the casino negotiates an agreement to pay the out-of-State sending track an amount equal to less than 6% of the parimutuel pool, the casino shall be entitled to retain the difference between the amount agreed upon and 6%.]
(cf: P.L.2009, c.36, s.28)
2. This act shall take effect immediately.
STATEMENT
Existing law limits the amount that a casino may pay an out-of-State racetrack for transmission of a simulcast horse race to no more than 3.5% of the parimutuel pool on each race or, in the case of not more than 28 races per calendar year and for races run annually at the Breeders' Cup World Cup Championships, 6% of the parimutuel pool on each race. This bill would allow a casino and an out-of-State racetrack, instead, to negotiate the amount the casino will pay for the transmission of simulcast horse races from the out-of-State sending track.
