Assembly Bill A3322

Signed By Governor
2009-2010 Legislative Session

Requires OTB corporations to submit copy of annual budget to racing and wagering board, and, upon finding of reasonable basis, conduct business and managerial audit

download bill text pdf

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Archive: Last Bill Status Via S2717 - Signed by Governor

  • 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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2009-A3322 (ACTIVE) - Details

See Senate Version of this Bill:
S2717
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §524, RWB L

2009-A3322 (ACTIVE) - Summary

Directs OTB corporations to submit copy of annual budget to the racing and wagering board, and, upon finding of reasonable basis by such board to believe any such OTB corporation is not complying with applicable laws or rules and regulations, cause its business and managerial practices to be audited at its own expense.

2009-A3322 (ACTIVE) - Bill Text download pdf 

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

                                  3322

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 26, 2009
                               ___________

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 audits and budgets of off-track betting corporations

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

  Section 1. Subdivision 1 of section 524  of  the  racing,  pari-mutuel
wagering and breeding law, as amended by chapter 18 of the laws of 2008,
is amended to read as follows:
  1.  The  board  shall,  consistent  with  the powers of the [state tax
commission] DEPARTMENT OF TAXATION AND FINANCE, prescribe uniform  meth-
ods  of  keeping  accounts, records and books to be observed by regional
corporations. The board shall, consistent with the powers of the  [state
tax  commission]  DEPARTMENT OF TAXATION AND FINANCE, prescribe by order
forms of accounts, records and memoranda  to  be  kept  by  such  corpo-
rations.  The  board  shall  have power to visit, investigate, and place
expert accountants, or such other persons as it may deem  necessary,  in
the offices, or other places of business of any such corporation for the
purpose  of seeing that the provisions of this chapter and the rules and
regulations issued by the board thereunder are strictly  complied  with.
UPON  A  FINDING  BY THE BOARD OF A REASONABLE BASIS TO BELIEVE THAT ANY
SUCH OFFTRACK BETTING CORPORATION IS NOT COMPLYING WITH  THE  RULES  AND
REGULATIONS  OF  THE  BOARD  OR  WITH  APPLICABLE PROVISIONS OF LAW, THE
BOARD, AFTER PROVIDING A WRITTEN REPORT SETTING FORTH ITS FINDINGS,  MAY
BY  A  MAJORITY  VOTE  DIRECT SUCH CORPORATION TO CAUSE ITS BUSINESS AND
MANAGERIAL PRACTICES TO BE AUDITED AT ITS OWN  EXPENSE  TO  ENSURE  THAT
SUCH CORPORATION COMPLIES WITH THE RULES AND REGULATIONS OF THE BOARD OR
ANY APPLICABLE PROVISION OF LAW.
  S  2. Subdivision 4 of section 524 of the racing, pari-mutuel wagering
and breeding law is amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05162-01-9

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