Tracks buy legislators so that otbs don't get no relief

It is conceded that many of the problems of otbs are not entirely of their own making
They do employ people who work  as well as those that. Don't work too much.

 
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S05421 Summary:

BILL NO    S05421A

SAME AS    SAME AS A07441-A

SPONSOR    AMEDORE

COSPNSR    

MLTSPNSR   



Relates to capital acquisition funds maintained by regional off-track betting
corporations.

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S05421 Actions:

BILL NO    S05421A

05/14/2015 REFERRED TO RACING, GAMING AND WAGERING
06/01/2015 AMEND AND RECOMMIT TO RACING, GAMING AND WAGERING
06/01/2015 PRINT NUMBER 5421A

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S05421 Votes:

There are no votes for this bill in this legislative session.

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S05421 Memo:

Memo not available

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S05421 Text:

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

                                        5421--A

                              2015-2016 Regular Sessions

                                   I N  S E N A T E

                                     May 14, 2015
                                      ___________

       Introduced  by  Sen. AMEDORE -- read twice and ordered printed, and when
         printed to be committed to the Committee on Racing, Gaming and  Wager-
         ing  --  committee  discharged,  bill  amended,  ordered  reprinted as
         amended and recommitted to said committee

       AN ACT relating to capital  acquisition  funds  maintained  by  regional
         off-track betting corporations

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

    1    Section 1. a. Notwithstanding any other provision of law or regulation
    2  to the contrary, up to five hundred thousand dollars of the funds  in  a
    3  capital  acquisition  fund, established pursuant to section 509-a of the
    4  racing, pari-mutuel wagering and breeding law shall  be  available  once
    5  per  annum to a regional off-track betting corporation for any corporate
    6  purpose; provided, however, that such regional off-track betting  corpo-
    7  ration  is  not  utilizing  its  capital  acquisition fund for corporate
    8  purposes as provided in section 3 of part II of chapter 58 of  the  laws
    9  of  2012,  and  further  provided,  that at a time and in a manner to be
   10  determined and prescribed by the New York state  gaming  commission,  at
   11  least  ten percent of such amount shall be distributed among the partic-
   12  ipating counties on the basis of population, as  defined  as  the  total
   13  population  in  each  participating county shown by the latest preceding
   14  decennial federal census completed and published as a  final  population
   15  count  by the United States bureau of the census preceding the commence-
   16  ment of the calendar year in which such distribution is to be made.
   17    b. A regional off-track betting corporation that  chooses  to  utilize
   18  its  capital  acquisition  fund  for  corporate  purposes as provided in
   19  subdivision a of this section shall do so by providing written notifica-
   20  tion to the New York state gaming commission, including any  information
   21  which  such  commission may require, at least fifteen days in advance of
   22  its decision to utilize monies for corporate purposes.
   23    S 2. This act shall take effect immediately.

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10960-03-5