Bill Text: NY S06785 | 2017-2018 | General Assembly | Introduced

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Bill Title: Increases the market origin fee for multi-jurisdictional account wagering providers from five to seven and one half per centum.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-01-03 - REFERRED TO RACING, GAMING AND WAGERING [S06785 Detail]

Download: New_York-2017-S06785-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6785
                               2017-2018 Regular Sessions
                    IN SENATE
                                      June 17, 2017
                                       ___________
        Introduced  by  Sen. AMEDORE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation to multi-jurisdictional account wagering providers
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 6  of section 1012-a 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    6.  multi-jurisdictional account wagering providers shall pay a market
     5  origin fee equal to [five] seven and one-half per centum on  each  wager
     6  accepted  from New York residents. Multi-jurisdictional account wagering
     7  providers shall make the required payments to the market origin  account
     8  on  or  before  the  fifth  business day of each month and such required
     9  payments shall cover payments due for the period of the preceding calen-
    10  dar month; provided, however, that such payments required to be made  on
    11  April fifteenth shall be accompanied by a report under oath, showing the
    12  total  of all such payments, together with such other information as the
    13  commission may require. A penalty of five per centum and interest at the
    14  rate of one per centum per month from the date the report is required to
    15  be filed to the date the payment shall be payable in case  any  payments
    16  required by this subdivision are paid when due. If the commission deter-
    17  mines  that  any  moneys  received  under  this subdivision were paid in
    18  error, the commission may cause the same to be refunded without interest
    19  out of any moneys collected thereunder, provided an application therefor
    20  is filed with the commission within one year from the time the erroneous
    21  payment was made. The commission shall pay into  the  racing  regulation
    22  account,  under the joint custody of the comptroller and the commission,
    23  the total amount of the fee collected pursuant to this section.
    24    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13254-01-7