S T A T E O F N E W Y O R K
________________________________________________________________________
7487
2009-2010 Regular Sessions
I N A S S E M B L Y
April 13, 2009
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Introduced by M. of A. BARRA, TOWNSEND, HAWLEY, BURLING, FINCH, RAIA --
Multi-Sponsored by -- M. of A. BACALLES, CROUCH, KOLB -- read once and
referred to the Committee on Racing and Wagering
AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
relation to disposition of unclaimed winnings and refunds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 241 of the racing, pari-mutuel wagering and breed-
ing law, as amended by chapter 18 of the laws of 2008, is amended to
read as follows:
S 241. Disposition of unpaid money due on account of pari-mutuel tick-
ets not presented. The sum held by any corporation authorized to conduct
pari-mutuel betting for payment of outstanding winning pari-mutuel tick-
ets and for refunding the price of pari-mutuel tickets shall be retained
by such corporation for such purposes until April first of the succeed-
ing year[; provided, however, that ninety-five per centum of such sum
remaining unclaimed as of the last day of February of such year shall be
paid to the department of taxation and finance by March fifteenth. On
April tenth, the balance of such sum remaining unclaimed and any other
unclaimed amount received in the course of conducting pari-mutuel
betting shall be paid to the department of taxation and finance. A
penalty of five per centum and interest at the rate of one per centum
per month from the due date to the date of payment of the unclaimed
balance due March fifteenth or April tenth, as the case may be, shall be
payable in case such balance is not paid when due. Such amounts, inter-
est and penalties when collected shall be paid by the department of
taxation and finance into the general fund of the state treasury] AT
WHICH TIME SAID SUM SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH
CORPORATION PURSUANT TO SUBDIVISION TWO OF SECTION TWO HUNDRED
THIRTY-SIX OR PARAGRAPH (B) OF SUBDIVISION ONE OF SECTION TWO HUNDRED
THIRTY-EIGHT OF THIS ARTICLE.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10744-01-9
A. 7487 2
S 2. Section 328 of the racing, pari-mutuel wagering and breeding law
is amended to read as follows:
S 328. Disposition of unpaid money due on account of pari-mutuel tick-
ets not presented. The sum held by any corporation or association
authorized to conduct pari-mutuel betting for payment of outstanding
winning pari-mutuel tickets and for refunding the price of pari-mutuel
tickets shall be retained by such corporation or association for such
purposes until April first of the succeeding year[; provided, however,
that ninety-five per centum of such sum remaining unclaimed as of the
last day of February of such year shall be paid to the state tax commis-
sion by March fifteenth. On April tenth, the balance of such sum remain-
ing unclaimed and any other unclaimed amount received in the course of
conducting pari-mutuel betting shall be paid to the state tax commis-
sion. A penalty of five per centum and interest at the rate of one per
centum per month from the due date to the date of payment of the
unclaimed balance due March fifteenth or April tenth, as the case may
be, shall be payable in case such balance is not paid when due. Such
amounts, interest and penalties when collected shall be paid by the
state tax commission into the general fund of the state treasury] AT
WHICH TIME SAID SUM SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH
CORPORATION PURSUANT TO SUBPARAGRAPH (III) OF PARAGRAPH A OF SUBDIVISION
ONE OF SECTION THREE HUNDRED EIGHTEEN OF THIS ARTICLE.
S 3. Subdivision 2 of section 529 of the racing, pari-mutuel wagering
and breeding law is amended to read as follows:
2. [Ninety-five percent of the balance of such account remaining
unclaimed as of the last day of February of such year shall be paid to
the state tax commission by March fifteenth. On or before April tenth of
each year the balance of such account and any other unclaimed amounts
received in the course of conducting off-track betting shall be paid by
such corporation to the state tax commission. A penalty of five percent
and interest at the rate of one percent per month from the due date to
the date of payment of the unclaimed balance due March fifteenth or
April tenth, as the case may be, shall be payable in case such balance
is not paid when due. Such amounts, interest and penalties when
collected by the state tax commission shall be deposited into the gener-
al fund of the state treasury] AFTER APRIL FIRST ANY SUM REMAINING IN
THE ACCOUNT SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH REGIONAL
CORPORATION.
S 4. This act shall take effect immediately.