Bill Text: NY A03555 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to the members of the franchise oversight board and the duties and responsibilities of such board with regard to the New York city off-track betting corporation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to racing and wagering [A03555 Detail]

Download: New_York-2023-A03555-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3555

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 3, 2023
                                       ___________

        Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
          tee on Racing and Wagering

        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation to the franchise oversight board

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subparagraph (xx)  of  paragraph  a  of  subdivision  8  of
     2  section  212  of  the  racing, pari-mutuel wagering and breeding law, as
     3  renumbered by section 2 of part NN of chapter 59 of the laws of 2017, is
     4  renumbered subparagraph (xxi) and a new subparagraph (xx)  is  added  to
     5  read as follows:
     6    (xx)  acting on behalf of New York city off-track betting corporation,
     7  retain a restructuring firm to prepare a restructuring and business plan
     8  for New York city off-track betting  corporation.  Such  plan  shall  be
     9  reviewed  by  the  franchise oversight board together with New York city
    10  off-track betting corporation and upon acceptance by the franchise over-
    11  sight board shall be implemented by  New  York  city  off-track  betting
    12  corporation; and
    13    §  2.  This act shall take effect immediately; provided, however, that
    14  the amendments to section 212 of the racing,  pari-mutuel  wagering  and
    15  breeding  law made by section one of this act shall take effect upon the
    16  confirmation of the New York Racing Association plan  of  reorganization
    17  pursuant  to  section  16 of chapter 18 of the laws of 2008, as amended;
    18  provided further, that the amendments to  section  212  of  the  racing,
    19  pari-mutuel  wagering  and  breeding law made by section one of this act
    20  shall be deemed repealed as provided by chapter 354 of the laws of 2005,
    21  as amended.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08310-01-3