Bill Text: NY A10514 | 2011-2012 | General Assembly | Introduced

New York Assembly Bill 10514 (Prior Session Legislation)

Introduced

Bill Title: Relates to resources of the New York state thoroughbred breeding and development fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2012-06-21 - REFERRED TO RULES [A10514 Detail]

Download: New_York-2011-A10514-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         10514
                                 I N  A S S E M B L Y
                                     May 30, 2012
                                      ___________
       Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Pretlow) --
         read once and referred to the Committee on Racing and Wagering
       AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
         relation  to resources of the New York state thoroughbred breeding and
         development fund
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subparagraph (i) of paragraph d of subdivision 2 of section
    2  254  of the racing, pari-mutuel wagering and breeding law, as amended by
    3  chapter 18 of the laws of 2008, is amended to read as follows:
    4    (i) An amount as shall be determined by the fund but not in excess  of
    5  forty-four  percent  to provide purse moneys [for races] exclusively for
    6  New York-breds ENTERED IN ALL RACES, the conditions of which  have  been
    7  approved  by the fund.  Provided, however, that the fund shall set aside
    8  forty percent of the funds allotted under  this  subdivision  to  tracks
    9  operated  by  corporations licensed or franchised in accordance with the
   10  provisions of section two hundred five or section  two  hundred  six  of
   11  this  article  except  that in addition to the other amounts allotted by
   12  the fund under this paragraph, seventy-five  percent  of  fund  revenues
   13  derived  from  payments  received  in accordance with subdivision one of
   14  section five hundred twenty-seven of  this  chapter  shall  be  allotted
   15  exclusively  to  purses  at  a  track operated by a corporation licensed
   16  under the provisions of section two hundred five of this article.
   17    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15725-01-2