Senate Bill S538

2011-2012 Legislative Session

Increases state aid payments to cities with video lottery gaming facilities

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

  • 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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2011-S538 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Amd §54-l, St Fin L
Versions Introduced in 2009-2010 Legislative Session:
S1869

2011-S538 (ACTIVE) - Summary

Increases state aid payments to cities with video lottery gaming facilities.

2011-S538 (ACTIVE) - Sponsor Memo

2011-S538 (ACTIVE) - Bill Text download pdf 

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

                                   538

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in  relation  to  increasing  the
  state  aid  an  eligible  city  may receive from estimated net machine
  income generated by a video lottery gaming facility

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

  Section  1.  Paragraph a of subdivision 2 of section 54-l of the state
finance law, as amended by section 1 of part AA of  chapter  56  of  the
laws of 2010, is amended to read as follows:
  a.  An  eligible  city  shall  receive: (i) for the state fiscal years
commencing April first, two thousand seven and April first, two thousand
eight, a state aid payment equal to three and one-half  percent  of  the
"estimated  net  machine  income"  generated  by  a video lottery gaming
facility located in such eligible city. Such state aid payment shall not
exceed twenty million dollars per eligible city; and (ii) for the  state
fiscal  year  commencing  April  first,  two thousand nine and [for each
state fiscal year thereafter] APRIL FIRST, TWO THOUSAND TEN,  an  amount
equal  to  the  state  aid  payment  received  in  the state fiscal year
commencing April first, two thousand eight;  AND  (III)  FOR  THE  STATE
FISCAL  YEAR  COMMENCING  APRIL  FIRST, TWO THOUSAND ELEVEN AND FOR EACH
STATE FISCAL YEAR THEREAFTER, A STATE AID PAYMENT EQUAL TO SEVEN PERCENT
OF THE "ESTIMATED NET MACHINE INCOME" GENERATED BY A VIDEO GAMING FACIL-
ITY LOCATED IN AN ELIGIBLE CITY  OR  FORTY  MILLION  DOLLARS,  WHICHEVER
SHALL BE GREATER.
  S  2.  This act shall take effect April 1, 2011, provided however that
if this act shall become a law after April 1, 2011, it shall take effect
immediately and shall be deemed to have been in full force and effect on
and after April 1, 2011.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04412-01-1

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