NY State Senate Bill 2009-S2717

Senate Bill S2717

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

Archive: Last Bill Status - 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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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Aug 30, 2010	signed chap.459
Aug 18, 2010	delivered to governor
Jun 23, 2010	returned to senate passed assembly ordered to third reading cal.260 substituted for a3322
Jun 15, 2010	referred to racing and wagering delivered to assembly passed senate
Jun 10, 2010	advanced to third reading
Jun 09, 2010	2nd report cal.
Jun 08, 2010	1st report cal.763
Jan 06, 2010	referred to racing, gaming and wagering
Feb 27, 2009	referred to racing, gaming and wagering

Votes

- Jun 15, 2010 - Floor Vote
  S2717
  
  61
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 15, 2010
      
      aye (61)
      
      Adams
      
      Addabbo Jr.
      
      Alesi
      
      Aubertine
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Duane
      
      Espada
      
      Farley
      
      Flanagan
      
      Foley
      
      Fuschillo
      
      Golden
      
      Griffo
      
      Hannon
      
      Hassell-Thompson
      
      Huntley
      
      Johnson
      
      Johnson
      
      Klein
      
      Krueger
      
      Kruger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Leibell
      
      Libous
      
      Little
      
      Marcellino
      
      Maziarz
      
      McDonald
      
      Montgomery
      
      Nozzolio
      
      Onorato
      
      Oppenheimer
      
      Padavan
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Robach
      
      Saland
      
      Sampson
      
      Savino
      
      Schneiderman
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stachowski
      
      Stavisky
      
      Stewart-Cousins
      
      Thompson
      
      Valesky
      
      Volker
      
      Winner
      
      Young
      
      excused (1)
      
      Morahan
  Jun 8, 2010 - Racing, Gaming And Wagering Committee Vote
  S2717
  
  8
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Racing, Gaming And Wagering Committee Vote: Jun 8, 2010
      
      aye (8)
      
      Adams
      
      Addabbo Jr.
      
      Bonacic
      
      Griffo
      
      McDonald
      
      Nozzolio
      
      Onorato
      
      Stachowski
      
      aye wr (1)
      
      Johnson

2009-S2717 (ACTIVE) - Details

See Assembly Version of this Bill:: A3322
Law Section:: Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:: Amd §524, RWB L

2009-S2717 (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-S2717 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S2717

TITLE OF BILL:
An act to amend the racing, pari-mutuel wagering and breeding law, in
relation to audits and budgets of off-track betting corporations

PURPOSE:
To authorize the Racing and Wagering Board (Board), upon a finding based
on a reasonable basis that an off-track betting corporation (OTB) is not
complying with the law, to order an OTB to cause its business and mana-
gerial practices to be audited. It also requires that OTB corporations
submit copies of the corporation's annual budget to the Board no later
than 20 days after approval by the corporation's board of directors.

SUMMARY OF PROVISIONS:
Section 1: Amends section 524(1) of the Racing, Pari-Mutuel Wagering and
Breeding Law to explicitly authorize the Board to direct an OTB corpo-
ration to cause its business and managerial practices to be audited at
the corporation's expense if there is a reasonable basis to believe that
such corporation is in violation of the law.

Section 2: Section 524(4) is amended to add language requiring the
submission of an approved OTB annual budget to the Board within 20 days
of its adoption.

Section 3: Effective date.

EXISTING LAW:
The Board has no explicit authorization to audit an OTB even if it
appears that such OTB is in violation of the law.

JUSTIFICATION:
OTB corporations are public benefit corporations which should be oper-
ated in the public interest and in the most efficient manner possible.
In addition, they should be operated in a manner consistent with the
statutory requirements set forth in the Racing Law. Recent events have
focused attention on the practices of these public benefit corporations
and have demonstrated the need to require this type of managerial and
business examination, when necessary, in order to provide a basis for
assuring compliance with statutory objectives and generally accepted
business management practices. Submission of already approved OTB annual
budgets will also enhance the ability to monitor off-track betting
corporation activities.

Many other State agencies such as the Insurance and Health Departments
have the statutory authority to order an audit of a regulated party if
that Department believes regulatory irregularities are occurring.  It is
only proper that OTBs should be monitored in a way that ensures that the
maximum amount of money possible is going to localities and not to
perpetuate inefficient OTB operations.

LEGISLATIVE HISTORY:
S.7018 of 2001
S.2088 of 2003/2004
S.1205 of 2005/2006

FISCAL IMPLICATIONS:
None.

LOCAL FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
180 days after it shall have become law.

2009-S2717 (ACTIVE) - Bill Text download pdf

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

                                  2717

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 27, 2009
                               ___________

Introduced  by  Sen.  ADAMS  -- 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 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

S. 2717                             2

  4.  The  reports required under this section shall be in such form and
contain such other matters as the board may determine from time to  time
to be necessary to disclose accurately the financial condition and oper-
ation  of  such corporations.   EACH REGIONAL CORPORATION SHALL SUBMIT A
COPY OF THE CORPORATION'S ANNUAL BUDGET TO THE BOARD NO LATER THAN TWEN-
TY  DAYS FOLLOWING APPROVAL OF SUCH BUDGET BY THE CORPORATION'S BOARD OF
DIRECTORS. The board may for good cause shown grant a reasonable  exten-
sion of time for the filing of any such report.
  S 3. This act shall take effect on the one hundred eightieth day after
it shall have become a law; provided, however, that the state racing and
wagering  board  is  authorized  to promulgate any rules and regulations
prior to such effective date to implement the provisions of this act.

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