Bill Text: NY S01956 | 2023-2024 | General Assembly | Introduced
Bill Title: Mandates a fixed percentage of annual harness horse breeders awards; requires that all sire stakes funds generated by a specific racetrack be returned as purses to such track at the same level in order to allow New York to compete with states that have stronger awards programs.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO RACING, GAMING AND WAGERING [S01956 Detail]
Download: New_York-2023-S01956-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1956 2023-2024 Regular Sessions IN SENATE January 17, 2023 ___________ Introduced by Sen. ADDABBO -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming and Wager- ing AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to mandating a fixed percentage of annual harness horse breeders awards and requiring that all sire stakes funds generated by a specific racetrack be returned as purses to such track at the same level The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The opening paragraph and paragraph f of subdivision 1 of 2 section 332 of the racing, pari-mutuel wagering and breeding law, the 3 opening paragraph as amended by chapter 429 of the laws of 2008 and 4 paragraph f as amended by chapter 56 of the laws of 1991, are amended to 5 read as follows: 6 To collect and receive in each calendar year amounts to be paid to the 7 fund by the persons or corporations licensed to conduct pari-mutuel 8 betting at harness racing tracks, an amount equal to three-fifths of one 9 per centum of all moneys deposited in pari-mutuel betting pools result- 10 ing from on-track bets at all races conducted by licensees at a harness 11 horse meeting or races run thereat except that for super exotic betting 12 pools such amount shall be three per centum of such bets, as provided by 13 paragraph c of subdivision one of section three hundred eighteen of this 14 article and to collect and receive in each calendar year to be paid to 15 the fund by each regional corporation, an amount equal to three-fifths 16 of one per centum of daily pools derived from off-track bets on harness 17 races except that for super exotic betting pools such amount shall be 18 three per centum of such bets as provided by subdivision five of section 19 five hundred twenty-seven of this chapter; provided however, that after 20 April first, nineteen hundred eighty-six, the amount to be collected and 21 received from such licensees and regional corporations, except for super EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04723-01-3S. 1956 2 1 exotic betting pools, shall be one per centum, and to collect and 2 receive such funds as may otherwise be authorized by law. The moneys 3 shall be deposited forthwith in a bank or banks in this state. The fund 4 is authorized to dispose of and distribute the monies received by it 5 pursuant to the provisions of this chapter for the following purpose and 6 no others, with the balance distributed to each track made in proportion 7 to such track's contribution from all revenue sources from such track, 8 made to the fund, bears to the total contributions to the fund from all 9 such tracks. Each track contributing to the fund shall utilize such 10 monies paid to it for purses, prizes and premiums for New York-bred 11 harness horses: 12 f. An amount as shall be determined by the fund but shall not be less 13 than seventy-five percent thereof in an account designated "New York 14 state breeding farms", and of such amount [not less than ten percent nor15more than] twenty percent [as determined by the trustees of the fund16may] shall be used exclusively for breeders' awards for New York-breds 17 and awards to owners of eligible stallions. 18 § 2. This act shall take effect immediately.
