§ 531. Reduction of local admissions taxes as a pre-condition of
off-track betting. 1. Notwithstanding article eight of this chapter and
subdivision twenty-four of section sixty-four of the town law, no
locally imposed taxes on admissions to harness or running races shall be
in the aggregate more than three percent of such admissions on and after
the first day that off-track pari-mutuel betting is conducted or
continues to be conducted in such locality imposing the tax by a
regional corporation, pursuant to this article, established for the
region in which such races are conducted.

2. A regional corporation, except for such corporations consisting of
only one participating county or one city, shall annually reimburse any
city or town within such region for any reduction in admissions tax
revenues equal to the difference between such revenues for:

a. the twelve months immediately preceding the reduction required by
this section, and

b. each twelve-month period subsequent to July thirty-first, nineteen
hundred seventy-eight.