NY State Assembly Bill 2017-A9894A

Assembly Bill A9894A

2017-2018 Legislative Session

Relates to allowing funds held in trust by a franchised corporation for a recognized horsemen's organization to be used as collateral to secure workers' compensation insurance coverage

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Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 05, 2018	print number 9894a
Mar 05, 2018	amend (t) and recommit to racing and wagering
Feb 20, 2018	referred to racing and wagering

Bill Amendments

Original

A (Active)

2017-A9894 - Details

See Senate Version of this Bill:: S7745
Current Committee:: Assembly Racing And Wagering
Law Section:: Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:: Amd §§221 & 208, RWB L

2017-A9894 - Summary

Allows funds held in trust by a franchised corporation for a recognized horsemen's organization to be used as collateral to secure workers' compensation insurance coverage.

2017-A9894 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9894
 
                           I N  A S S E M B L Y
 
                             February 20, 2018
                                ___________
 
 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  allowing  the  New York Jockey Injury Compensation Fund,
   Inc. to use as collateral up to ten per centum of the fund for certain
   letters of credit

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision   6 of section 221 of the racing, pari-mutuel
 wagering and breeding law, as amended by section 1 of part SS of chapter
 59 of the laws of 2017, is amended to read as follows:
   6. (a) The fund shall secure workers' compensation insurance  coverage
 on  a  blanket  basis for the benefit of all jockeys, apprentice jockeys
 and exercise persons licensed pursuant to this article or  article  four
 of  this  chapter  who  are  employees under section two of the workers'
 compensation law, and may elect, with the approval of the gaming commis-
 sion,  to  secure  workers'  compensation  insurance  for  employees  of
 licensed  trainers  or  owners.  In  the event the fund elects, with the
 approval of the  gaming  commission,  to  secure  workers'  compensation
 insurance  for  employees  of  licensed trainers or owners, the fund may
 discontinue to secure workers' compensation insurance for  employees  of
 licensed  trainers  or  owners  only  upon  prior approval of the gaming
 commission.
   (b) The fund may elect, with the approval of the gaming commission, to
 secure workers' compensation insurance coverage through a form of  self-
 insurance,  provided that the fund has met the requirements of the work-
 ers' compensation  board,  including,  without  limitation,  subdivision
 three  of  section  fifty  of  the  workers'  compensation law, PROVIDED
 FURTHER THAT THE FUND MAY PLEDGE AS COLLATERAL UP TO TEN PER CENTUM FROM
 THE ACCOUNT ESTABLISHED PURSUANT TO  SUBDIVISION  NINE  OF  SECTION  TWO
 HUNDRED EIGHT OF THIS ARTICLE TO OBTAIN A LETTER OF CREDIT TO BE USED TO
 SECURE  WORKERS' COMPENSATION INSURANCE COVERAGE THROUGH A FORM OF SELF-
 INSURANCE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD14725-01-8

 A. 9894                             2
 
   § 2. The opening paragraph of subdivision 7  of  section  221  of  the
 racing,  pari-mutuel  wagering and breeding law, as amended by section 2
 of part SS of chapter 59 of the laws of 2017,  is  amended  to  read  as
 follows:
   In  order  to  pay the costs of the insurance required by this section
 and by the workers' compensation law and to carry out its  other  powers
 and  duties  and  to  pay for any of its liabilities under section four-
 teen-a of the workers' compensation law,  the  New  York  Jockey  Injury
 Compensation  Fund, Inc. shall ascertain the total funding necessary and
 establish the sums that are to  be  paid  by  all  owners  and  trainers
 licensed  or required to be licensed under section two hundred twenty of
 this article, to obtain the total funding amount required  annually.  In
 order to provide that any sum required to be paid by an owner or trainer
 is  equitable,  the fund shall establish payment schedules which reflect
 such  factors  as  are  appropriate,  including  where  applicable,  the
 geographic  location  of  the  racing  corporation at which the owner or
 trainer participates, the duration of such participation, the amount  of
 any purse earnings, the number of horses involved, or such other factors
 as the fund shall determine to be fair, equitable and in the best inter-
 ests  of  racing.  In no event shall the amount deducted from an owner's
 share of purses exceed two per centum; provided, however, for two  thou-
 sand  [seventeen] EIGHTEEN the New York Jockey Injury Compensation Fund,
 Inc. may use up to two million  dollars  from  the  account  established
 pursuant  to subdivision nine of section two hundred eight of this arti-
 cle to pay the annual costs required by this section and the funds  from
 such  account  shall  not  count  against  the  two per centum of purses
 deducted from an owner's share of purses. The amount  deducted  from  an
 owner's  share  of  purses  shall  not exceed one per centum after April
 first, two thousand twenty. In the  cases  of  multiple  ownerships  and
 limited  racing  appearances,  the  fund  shall equitably adjust the sum
 required.
   § 3. Paragraph (a) of subdivision 9 of  section  208  of  the  racing,
 pari-mutuel  wagering  and breeding law, as amended by section 2 of part
 PP of chapter 60 of the laws of 2016, is amended to read as follows:
   (a) The franchised corporation shall maintain a separate  account  for
 all  funds  held  on  deposit in trust by the corporation for individual
 horsemen's accounts. Purse funds shall be paid  by  the  corporation  as
 required to meet its purse payment obligations. Funds held in horsemen's
 accounts  shall only be released or applied as requested and directed by
 the individual horseman. For two thousand  [sixteen]  EIGHTEEN  the  New
 York  Jockey  Injury  Compensation  Fund, Inc. may use up to two million
 dollars from the account established pursuant to this subdivision to pay
 the annual costs required by section  two  hundred  twenty-one  of  this
 article.
   § 4. This act shall take effect immediately.

2017-A9894A (ACTIVE) - Details

See Senate Version of this Bill:: S7745
Current Committee:: Assembly Racing And Wagering
Law Section:: Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:: Amd §§221 & 208, RWB L

2017-A9894A (ACTIVE) - Summary

Allows funds held in trust by a franchised corporation for a recognized horsemen's organization to be used as collateral to secure workers' compensation insurance coverage.

2017-A9894A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9894--A
 
                           I N  A S S E M B L Y
 
                             February 20, 2018
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Racing and Wagering  --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend the racing, pari-mutuel wagering and breeding law, in
   relation to funds held in trust by  a  franchised  corporation  for  a
   recognized  horsemen's organization to be used as collateral to secure
   workers' compensation insurance coverage
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.   The opening paragraph of subdivision 7 of section 221 of
 the racing, pari-mutuel wagering and breeding law, as amended by section
 2 of part SS of chapter 59 of the laws of 2017, is amended  to  read  as
 follows:
   In  order  to  pay the costs of the insurance required by this section
 and by the workers' compensation law and to carry out its  other  powers
 and  duties  and  to  pay for any of its liabilities under section four-
 teen-a of the workers' compensation law,  the  New  York  Jockey  Injury
 Compensation  Fund, Inc. shall ascertain the total funding necessary and
 establish the sums that are to  be  paid  by  all  owners  and  trainers
 licensed  or required to be licensed under section two hundred twenty of
 this article, to obtain the total funding amount required  annually.  In
 order to provide that any sum required to be paid by an owner or trainer
 is  equitable,  the fund shall establish payment schedules which reflect
 such  factors  as  are  appropriate,  including  where  applicable,  the
 geographic  location  of  the  racing  corporation at which the owner or
 trainer participates, the duration of such participation, the amount  of
 any purse earnings, the number of horses involved, or such other factors
 as the fund shall determine to be fair, equitable and in the best inter-
 ests  of  racing.  In no event shall the amount deducted from an owner's
 share of purses exceed two per centum; provided, however, for two  thou-
 sand  [seventeen] EIGHTEEN the New York Jockey Injury Compensation Fund,
 Inc. may use up to two million  dollars  from  the  account  established
 pursuant  to subdivision nine of section two hundred eight of this arti-
 cle to pay the annual costs required by this section and the funds  from
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD14725-03-8

 A. 9894--A                          2
 
 such  account  shall  not  count  against  the  two per centum of purses
 deducted from an owner's share of purses. The amount  deducted  from  an
 owner's  share  of  purses  shall  not exceed one per centum after April
 first,  two  thousand  twenty.  In  the cases of multiple ownerships and
 limited racing appearances, the fund  shall  equitably  adjust  the  sum
 required.
   §  2.  Paragraph  (a)  of  subdivision 9 of section 208 of the racing,
 pari-mutuel wagering and breeding law, as amended by section 2  of  part
 PP of chapter 60 of the laws of 2016, is amended to read as follows:
   (a)  The  franchised corporation shall maintain a separate account for
 all funds held on deposit in trust by  the  corporation  for  individual
 horsemen's  accounts.  Purse  funds  shall be paid by the corporation as
 required to meet its purse payment obligations. Funds held in horsemen's
 accounts shall only be released or applied as requested and directed  by
 the  individual  horseman.  For  two thousand [sixteen] EIGHTEEN the New
 York Jockey Injury Compensation Fund, Inc. may use  up  to  two  million
 dollars from the account established pursuant to this subdivision to pay
 the  annual  costs  required  by  section two hundred twenty-one of this
 article.
   § 3. Paragraph (c) of subdivision 9 of  section  208  of  the  racing,
 pari-mutuel  wagering  and  breeding law is relettered paragraph (e) and
 two new paragraphs (c) and (d) are added to read as follows:
   (C) THE FRANCHISED CORPORATION SHALL ESTABLISH AND MAINTAIN A SEPARATE
 ACCOUNT FOR FUNDS TO BE HELD ON  DEPOSIT  IN  TRUST  BY  THE  FRANCHISED
 CORPORATION  FOR  THE  HORSEMEN'S  ORGANIZATION  RECOGNIZED  PURSUANT TO
 SECTION TWO HUNDRED TWENTY-EIGHT OF THIS ARTICLE. STARTING IN TWO  THOU-
 SAND  EIGHTEEN  AND  ANNUALLY  THEREAFTER, FUNDS FROM THE ACCOUNT ESTAB-
 LISHED PURSUANT TO THIS SUBDIVISION SHALL BE DEPOSITED IN  THE  SEPARATE
 ACCOUNT  ESTABLISHED UNDER THIS PARAGRAPH IN AN AMOUNT TO BE AGREED UPON
 BY THE FRANCHISED CORPORATION AND THE HORSEMEN'S ORGANIZATION RECOGNIZED
 PURSUANT TO SECTION TWO HUNDRED TWENTY-EIGHT OF  THIS  ARTICLE.    FUNDS
 HELD  IN  THIS  ACCOUNT  SHALL  BE  USED BY THE APPROPRIATELY RECOGNIZED
 HORSEMEN'S ORGANIZATION SOLELY AS COLLATERAL TO SECURE WORKERS'  COMPEN-
 SATION  INSURANCE COVERAGE, INCLUDING LOSS SENSITIVE PROGRAMS, INCLUDING
 THROUGH THE NEW YORK JOCKEY INJURY COMPENSATION FUND, INC.
   (D) IN THE EVENT THE HORSEMEN'S ORGANIZATION  RECOGNIZED  PURSUANT  TO
 SECTION  TWO  HUNDRED  TWENTY-EIGHT  OF THIS ARTICLE DETERMINES THAT THE
 FUNDS ARE NO LONGER NEEDED AS COLLATERAL TO SECURE WORKERS' COMPENSATION
 INSURANCE COVERAGE, THEN, UPON AGREEMENT BY THE  FRANCHISED  CORPORATION
 AND  THE  APPROPRIATELY RECOGNIZED HORSEMEN'S ORGANIZATION, FUNDS IN THE
 SEPARATE ACCOUNT ESTABLISHED UNDER PARAGRAPH  (C)  OF  THIS  SUBDIVISION
 SHALL  BE  RETURNED TO THE ACCOUNT ESTABLISHED PURSUANT TO THIS SUBDIVI-
 SION.
   § 4. This act shall take effect immediately.

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