| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Apr 30, 2010 |
print number 1869a |
| Apr 30, 2010 |
amend (t) and recommit to finance |
| Jan 06, 2010 |
referred to finance |
| Feb 09, 2009 |
referred to finance |
Senate Bill S1869
2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
Actions
Bill Amendments
2009-S1869 - Details
- Current Committee:
- Senate Finance
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §54-l, St Fin L
- Versions Introduced in 2011-2012 Legislative Session:
-
S538
2009-S1869 - Sponsor Memo
BILL NUMBER: S1869
TITLE OF BILL :
An act to amend the state finance law, in relation to eliminating the
limit on the amount an eligible city may receive from estimated net
machine income generated by a video lottery gaming facility
PURPOSE OR GENERAL IDEA OF BILL :
The purpose of this legislation is to increase the income for the
local municipalities who host these racetracks. This bill would
provide those regions with valuable revenue emanating from video
lottery terminals at the racetracks
SUMMARY OF SPECIFIC PROVISIONS :
Section one of the bill amends subdivision 2 of section 54-1 of the
state finance law, as added by section 1 of part B of chapter 56 of
the laws of 2006.
Section 2 of the bill gives the effective date.
JUSTIFICATION :
The revenues generated from the Video Lottery Terminals are expected
to bring enormous benefits to the State of New York in the form of
additional dollars to education. Under the current statute, a host
community is entitled to 3.5% of the "estimated net machine income"
generated by a video lottery gaming facility located in such eligible
2009-S1869 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1869
2009-2010 Regular Sessions
I N S E N A T E
February 9, 2009
___________
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 eliminating the
limit on the amount 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 R of chapter 57 of the laws
of 2007, is amended to read as follows:
a. An eligible city shall receive 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.]
S 2. This act shall take effect April 1, 2009; provided that if this
act shall not have become a law on or before April 1, 2009, then this
act shall take effect immediately and shall be deemed to have been in
full force and effect on and after April 1, 2009.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05257-01-9
2009-S1869A (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §54-l, St Fin L
- Versions Introduced in 2011-2012 Legislative Session:
-
S538
2009-S1869A (ACTIVE) - Sponsor Memo
BILL NUMBER: S1869A
TITLE OF BILL :
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
PURPOSE :
The purpose of this legislation is to increase the revenue for certain
local municipalities that host a Video Lottery Terminals (VLT)
racetrack facility. This bill provides valuable revenue derived from
the video lottery terminal formula, but paid by the state general
fund, to support local school districts, such as the City of Yonkers.
SUMMARY OF PROVISIONS :
Section 1: Amends State Finance Law section 54-1 (2) to increase state
aid to eligible cities that have VLT facilities from 3.5% of such
revenue to 7% of such revenue based on the "estimated net machine
income" generated by a video gaming facility located in such eligible
city or forty million dollars, whichever is greater.
JUSTIFICATION :
The revenues generated from VLTs bring enormous benefits to the State
of New York in the form of additional support for state education
programs. Under the current statute, a host VLT facility community is
2009-S1869A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1869--A
2009-2010 Regular Sessions
I N S E N A T E
February 9, 2009
___________
Introduced by Sen. KLEIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Finance -- recommitted to
the Committee on Finance in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
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 KK of chapter 56 of the
laws of 2009, 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], 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 TEN 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 FACILITY LOCATED IN THE ELIGIBLE
CITY OR FORTY MILLION DOLLARS, WHICHEVER SHALL BE GREATER.
S 2. This act shall take effect immediately and shall be deemed to
have been in full force and effect on and after April 1, 2010.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05257-03-0
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