Bill Text: NJ A994 | 2010-2011 | Regular Session | Introduced
Bill Title: Requires off-track wagering licensee to pay 4% of its wagering revenues to host municipality.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-01-25 - Transferred to Assembly Regulatory Oversight and Gaming Committee [A994 Detail]
Download: New_Jersey-2010-A994-Introduced.html
STATE OF NEW JERSEY
214th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2010 SESSION
Sponsored by:
Assemblyman RUBEN J. RAMOS, JR.
District 33 (Hudson)
SYNOPSIS
Requires off-track wagering licensee to pay 4% of its wagering revenues to host municipality.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel
An Act concerning the distribution of wagering revenues retained by an off-track wagering facility licensee and supplementing P.L.2001, c.199 (C.5:5-127 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. An off-track wagering licensee, or its assignee, operating an off-track wagering facility pursuant to the provisions of the "Off-Track and Account Wagering Act," P.L.2001, c.199 (C.5:5-127 et seq.), shall annually pay to the municipality where the off-track wagering facility is located a sum equal to 4% of the amounts received by the licensee pursuant to subsection f. of section 21 of P.L.2001, c.199 (C.5:5-147) and subsection b. of section 25 of P.L.2001, c.199 (C.5:5-151).
b. As a condition for the renewal of an off-track wagering license, the New Jersey Racing Commission shall verify that the licensee or its assignee has paid to the municipality the amounts required pursuant to subsection a. of this section. The commission shall not renew the off-track wagering license unless and until the licensee has complied with such requirement.
c. The amount paid to the municipality pursuant to subsection a. of this section shall be used by the municipality to fund general municipal purposes.
2. This act shall take effect immediately.
STATEMENT
This bill would require an off-track wagering licensee, or its assignee, to pay the municipality where the off-track wagering facility is located a sum equal to 4% of the wagering revenues received by the licensee in connection with the off-track wagering facility each year.
Under the "Off-Track and Account Wagering Act," P.L.2001, c.199 (C.5:5-127 et seq.), the New Jersey Racing Commission is charged with issuing and renewing the licenses for off-tack wagering facilities, and the New Jersey Sports and Exposition Authority is the sole entity eligible for licensure. This bill would require the commission to verity that the licensee is in compliance with the required payment to the municipality as a condition for license renewal.
The amount paid to the municipality under the bill would be used by the municipality for the funding of general municipal purposes.
