Bill Text: NY S07532 | 2017-2018 | General Assembly | Introduced

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Bill Title: Provides that the disposition of net revenues of regional off-track betting corporations to participating counties may be divided on an annual, bi-annual or quarterly basis as determined by such corporations.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2018-06-20 - COMMITTED TO RULES [S07532 Detail]

Download: New_York-2017-S07532-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7532
                    IN SENATE
                                    January 22, 2018
                                       ___________
        Introduced  by  Sen. BONACIC -- 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 disposition of  net  revenues  of  regional  off-track
          betting corporations to participating counties
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 2 of section 516  of  the  racing,  pari-mutuel
     2  wagering and breeding law is amended to read as follows:
     3    2.  After  payment of all of the costs of the corporation's functions,
     4  net revenue remaining to the corporation shall be  divided[,  quarterly,
     5  not  more  than  thirty  days  after the close of the calendar quarter],
     6  among the  participating  counties  in  accordance  with  the  following
     7  provisions:
     8    a. Each off-track betting corporation shall determine, at their organ-
     9  izational  meeting,  if  such  net  revenue remaining to the corporation
    10  shall be divided to participating counties on an  annual,  bi-annual  or
    11  quarterly basis, to be divided not more than thirty days after the close
    12  of  the calendar year, the close of the bi-annual year (January-June and
    13  July-December) or calendar quarter;
    14    b. Fifty percent of such revenue distributed among  the  participating
    15  counties  on the basis of the proportion of the total off-track pari-mu-
    16  tuel wagering accepted by the corporation during the previous  [calendar
    17  quarter]  period  that  originated in the branch offices located in each
    18  participating county;
    19    [b.] c. Fifty percent of such revenue on the basis of  population,  as
    20  defined  as  the  total population in each participating county shown by
    21  the latest preceding decennial federal census completed and published as
    22  a final population count by the  United  States  bureau  of  the  census
    23  preceding  the  commencement of the calendar year in which such distrib-
    24  ution is to be made; and
    25    [c.] d. A participating county containing a city electing  to  partic-
    26  ipate  in the management and revenues of a corporation under subdivision
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14082-01-8
        S. 7532                             2
     1  two of section five hundred two of this article shall distribute revenue
     2  received under paragraphs [a] b and [b] c of this  subdivision  to  such
     3  city  according  to  the  proportion such city's population bears to the
     4  county's population.
     5    § 2. This act shall take effect immediately.