§ 115. Regulatory fees. 1. Payment of the regulatory fees imposed by
this chapter shall be made to the commission by each entity required to
make such payments on the last business day of each month and shall
cover the fees due for the period from the sixteenth day of the
preceding month through the fifteenth day of the current month, provided
however that all such payments required to be made on March thirty-first
shall include all fees due and accruing through the last full week of
racing of the current year or as otherwise determined by the commission
and shall be accompanied by a report under oath, showing such
information as the commission may require. A penalty of five percent,
and interest at the rate of one percent per month from the date the
report is required to be filed to the date of the payment of the fee
shall be payable in case any fee imposed by this chapter is not paid
when due. If the commission determines that any regulatory fees received
by it under this chapter were paid in error, the commission may cause
the same to be refunded without interest out of any monies collected
thereunder, provided an application therefor is filed with the
commission within one year from the time the erroneous payment is made.

2. The commission or its duly authorized representatives shall have
the power to examine or cause to be examined the books and records of
each entity required to pay the regulatory fee imposed by this chapter
for the purpose of examining and checking the same and ascertaining
whether or not the proper amount or amounts due are being paid. If in
the opinion of the commission, after such examination, any such report
is incorrect, the commission is authorized to issue an assessment fixing
the correct amount of such fee. Such assessments may be issued within
three years from the filing of any report. Any such assessment shall be
final and conclusive unless an application for a hearing is filed by the
reporting entity within thirty days of the assessment. The action of the
commission in making such final assessment shall be reviewable in the
supreme court in the manner provided by and subject to the provisions of
article seventy-eight of the civil practice law and rules.

3. The commission shall submit to the director of the budget an annual
plan that details the amount of money the commission deems necessary to
maintain the operations, compliance and enforcement of the provisions of
this chapter. Contingent upon approval of the director of the budget,
the commission shall pay into an account, to be known as the racing
regulation account, under the joint custody of the comptroller and the
commission, the total amount of the regulatory fees collected pursuant
to this chapter. With the approval of the director of the budget, monies
to be utilized to maintain the operations necessary to implement the
provisions of this chapter shall be paid out of such account on the
audit and warrant of the comptroller on vouchers certified and approved
by the director of the budget or his duly designated official.