Bill Text: NY S07171 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Relates to the New York State Thoroughbred Breeding and Development Fund.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2012-05-01 - REFERRED TO RACING, GAMING AND WAGERING [S07171 Detail]

Download: New_York-2011-S07171-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7171
                                   I N  S E N A T E
                                      May 1, 2012
                                      ___________
       Introduced  by Sen. McDONALD -- 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 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. The second undesignated paragraph and the closing paragraph
    2  of subdivision 2 of section 254 of the racing, pari-mutuel wagering  and
    3  breeding  law,  as amended by chapter 18 of the laws of 2008, is amended
    4  to read as follows:
    5    [All moneys of the fund in excess of seventy-five thousand dollars  on
    6  hand  at  the end of each calendar year shall be apportioned between and
    7  paid to the state and the regional off-track betting corporations  based
    8  on the level of contributions to such fund during the year by the racing
    9  corporations  and  the  regional off-track betting corporations, respec-
   10  tively. Payment of such  money  to  the  state  and  such  corporations,
   11  respectively, shall be made by March fifteenth of the year following the
   12  close of such calendar year.
   13    That  portion  returned to the regional off-track betting corporations
   14  shall be distributed prior to May first of such year to the  participat-
   15  ing  local  governments within each region in the same proportion as the
   16  net earnings of such  corporation  for  the  prior  calendar  year  were
   17  distributed.]
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15195-01-2