Senate Bill S7532

2017-2018 Legislative Session

Relates to the disposition of net revenues of regional off-track betting corporations to participating counties

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules 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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2017-S7532 (ACTIVE) - Details

See Assembly Version of this Bill:
A9597
Current Committee:
Senate Rules
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §516, RWB L
Versions Introduced in Other Legislative Sessions:
2019-2020: A5994
2021-2022: A2324
2023-2024: A3618

2017-S7532 (ACTIVE) - Summary

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.

2017-S7532 (ACTIVE) - Sponsor Memo

2017-S7532 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7532
 
                             I N  S E N A T E
 
                             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:
 
   Section 1. Subdivision 2 of section 516  of  the  racing,  pari-mutuel
 wagering and breeding law is amended to read as follows:
   2.  After  payment of all of the costs of the corporation's functions,
 net revenue remaining to the corporation shall be  divided[,  quarterly,
 not  more  than  thirty  days  after the close of the calendar quarter],
 among the  participating  counties  in  accordance  with  the  following
 provisions:
   a. EACH OFF-TRACK BETTING CORPORATION SHALL DETERMINE, AT THEIR ORGAN-
 IZATIONAL  MEETING,  IF  SUCH  NET  REVENUE REMAINING TO THE CORPORATION
 SHALL BE DIVIDED TO PARTICIPATING COUNTIES ON AN  ANNUAL,  BI-ANNUAL  OR
 QUARTERLY BASIS, TO BE DIVIDED NOT MORE THAN THIRTY DAYS AFTER THE CLOSE
 OF  THE CALENDAR YEAR, THE CLOSE OF THE BI-ANNUAL YEAR (JANUARY-JUNE AND
 JULY-DECEMBER) OR CALENDAR QUARTER;
   B. Fifty percent of such revenue distributed among  the  participating
 counties  on the basis of the proportion of the total off-track pari-mu-
 tuel wagering accepted by the corporation during the previous  [calendar
 quarter]  PERIOD  that  originated in the branch offices located in each
 participating county;
   [b.] C. Fifty percent of such revenue on the basis of  population,  as
 defined  as  the  total population in each participating county shown by
 the latest preceding decennial federal census completed and published as
 a final population count by the  United  States  bureau  of  the  census
 preceding  the  commencement of the calendar year in which such distrib-
 ution is to be made; and
   [c.] D. A participating county containing a city electing  to  partic-
 ipate  in the management and revenues of a corporation under subdivision
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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