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Assembly Bill A2559

2015-2016 Legislative Session

Relates to payments to the racing industry at the racinos receiving full casino gaming licenses

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Archive: Last Bill Status - In Assembly Committee

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2015-A2559 (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd ยง1355, RWB L
Versions Introduced in 2013-2014 Legislative Session:
A9294

2015-A2559 (ACTIVE) - Summary

Relates to payments to the racing industry at the racinos receiving full casino gaming licenses.

2015-A2559 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2559

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Racing and Wagering

AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
  relation  to payments to the racing industry at racinos receiving full
  casino gaming licenses

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1355 of the racing, pari-mutuel wagering and breed-
ing law, as added by chapter 174 of the laws of 2013, is amended to read
as follows:
  S  1355.  Racing  support payments. 1. If an applicant who possesses a
pari-mutuel wagering franchise or license awarded  pursuant  to  article
two  or three of this chapter, or who possessed in two thousand thirteen
a franchise or a license awarded pursuant to article  two  or  three  of
this  chapter or is an articulated entity or such applicant, is issued a
gaming facility license pursuant to this article, the licensee shall:
  (a) Maintain payments made from video lottery gaming operations to the
relevant horsemen and breeders organizations at the  same  dollar  level
realized  in  two thousand thirteen, to be adjusted annually pursuant to
changes in  the  consumer  price  index  for  all  urban  consumers,  as
published  annually  by  the United States department of labor bureau of
labor statistics;
  (I) INVEST IN THE RACING INDUSTRY A PORTION OF ITS ANNUAL GROSS GAMING
REVENUE RECEIVED PURSUANT TO THIS CHAPTER BY DEDICATING A PORTION OF ITS
ANNUAL GROSS GAMING REVENUE RECEIVED PURSUANT TO THIS CHAPTER SOLELY FOR
THE PURPOSE OF ENHANCING PURSES AT SUCH TRACK, ACCORDING TO THE  FOLLOW-
ING SCHEDULE:
  FROM  THE FIRST FIFTEEN PERCENT INCREASE IN GROSS GAMING REVENUE ABOVE
ITS TWO THOUSAND FOURTEEN NET WIN FROM VIDEO LOTTERY TERMINALS  OPERATED
PURSUANT  TO  ARTICLE  THIRTY-FOUR OF THE TAX LAW: NO CONTRIBUTION UNTIL
THE FOLLOWING PLATEAUS ARE REACHED;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05534-01-5
              

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