Bill Text: NY A08207 | 2015-2016 | General Assembly | Introduced

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Bill Title: Requires a licensee to invest the total investment proposed in the licensee's final application in a proposed gaming facility.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to racing and wagering [A08207 Detail]

Download: New_York-2015-A08207-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8207
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     June 11, 2015
                                      ___________
       Introduced by M. of A. BRINDISI -- 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 amount of investment required  in  a  proposed  gaming
         facility
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 1 of section 1316 of  the  racing,  pari-mutuel
    2  wagering  and breeding law, as added by chapter 174 of the laws of 2013,
    3  is amended to read as follows:
    4    1. in accordance with the design plans submitted with  the  licensee's
    5  application  to  the  board,  invest not less than [the required capital
    6  under this article] THE TOTAL  INVESTMENT  PROPOSED  IN  THE  LICENSEE'S
    7  FINAL  APPLICATION,  AS SUCH APPLICATION WAS APPROVED BY THE BOARD, into
    8  the gaming facility;
    9    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11507-01-5