Senate Bill S686

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

                                   686

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            January 12, 2009
                               ___________

Introduced  by  Sen.  LARKIN -- 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 authorizing the payment of rebates on pari-mutuel wagers

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

  Section  1.  The  racing,  pari-mutuel  wagering  and  breeding law is
amended by adding a new section 112 to read as follows:
  S 112. REBATES. 1. FOR THE PURPOSES OF THIS  SECTION,  "REBATE"  SHALL
MEAN  A  PORTION  OF PARI-MUTUEL WAGERS, OTHERWISE PAYABLE TO AN ASSOCI-
ATION OR CORPORATION CONDUCTING PARI-MUTUEL BETTING AT A RACE MEETING ON
RACES RUN THEREAT, WHICH IS PAID  TO  HOLDERS  OF  PARI-MUTUEL  WAGERING
TICKETS  AND  WHICH REDUCES THE AMOUNT OTHERWISE PAYABLE TO SUCH ASSOCI-
ATION OR CORPORATION. SUCH TERM MAY BE FURTHER DELINEATED AND  CLARIFIED
IN  RULES  PROMULGATED  BY THE BOARD AND MAY INCLUDE, BUT NOT BE LIMITED
TO, REFUNDS TO HOLDERS OF PARI-MUTUEL WAGERING TICKETS OF ANY PORTION OR
PERCENTAGE OF THE FULL FACE VALUE OF A PARI-MUTUEL WAGER, INCREASING THE
PAYOFF OF, PAYING A BONUS ON A WINNING PARI-MUTUEL TICKET OR  ANY  OTHER
BENEFIT THE BOARD DEEMS APPROPRIATE TO REWARD RACING FAN PATRONS INCLUD-
ING,  BUT NOT LIMITED TO, AWARDS OF MERCHANDISE, SERVICES SUCH AS MEALS,
PARKING, ADMISSION, SEATING AND PROGRAMS, FREE OR REDUCED COST  PARI-MU-
TUEL WAGERS, AND MONETARY AWARDS.
  2.  THE  RACING AND WAGERING BOARD, UPON APPLICATION OF AN ASSOCIATION
OR CORPORATION CONDUCTING PARI-MUTUEL BETTING AT A RACE MEETING ON RACES
RUN THEREAT, MAY ANNUALLY APPROVE THE PAYMENT OF REBATES BY SUCH ASSOCI-
ATION OR CORPORATION, SUBJECT TO THE FOLLOWING REQUIREMENTS:
  A. THE APPLICANT FULLY DISCLOSES THE EXTENT  OF  THE  REBATE  PROGRAM.
FULL  DISCLOSURE  SHALL  INCLUDE THE DISCLOSURE OF THE MONETARY VALUE OF
ALL REBATES PAID TO BETTORS DURING THE PREVIOUS CALENDAR YEAR,  AND  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05302-01-9

              

S. 686                              2

TERMS  AND  CONDITIONS GOVERNING THE AWARD OF REBATES TO BETTORS FOR THE
CALENDAR YEAR TO WHICH THE APPLICATION APPLIES;
  B.  THE  APPLICANT  PROVIDES ASSURANCES THAT THE VALUES OF THE REBATES
ARE DETERMINED SOLELY BY (I) THE AMOUNT WAGERED BY A  BETTOR,  (II)  THE
AMOUNT  PAYABLE  TO  THE  ASSOCIATION  OR CORPORATION ON EACH WAGER, AND
(III) HOW FREQUENTLY A BETTOR WAGERS;
  C. THE ASSOCIATION OR CORPORATION  MAINTAINS  RECORDS  OF  ALL  WAGERS
SUBJECT TO A REBATE, FOR A PERIOD OF NOT LESS THAN THREE YEARS; AND
  D. THE APPLICANT DEMONSTRATES THAT SUCH REBATES ARE IN THE BEST INTER-
ESTS OF HORSE RACING.
  3. REGIONAL OFF-TRACK BETTING CORPORATIONS MAY OFFER REBATES ON WAGERS
MADE ON RACES RUN BY ANY ASSOCIATION OR CORPORATION WHICH OFFERS REBATES
PURSUANT  TO  THIS  SECTION.  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
  4. UPON THE APPROVAL  OF  AN  ASSOCIATION  OR  CORPORATION  CONDUCTING
PARI-MUTUEL  BETTING  AT  A  RACE  MEETING ON RACES RUN THEREAT, ANOTHER
RACING ASSOCIATION OR CORPORATION MAY PROVIDE BETTORS  WITH  REBATES  ON
WAGERS  ON RACES RUN AT THE RACETRACK OPERATED BY SUCH APPROVING ASSOCI-
ATION  OR  CORPORATION.  ALL  SUCH  REBATES  SHALL  BE  SUBJECT  TO  THE
PROVISIONS OF SUBDIVISIONS ONE AND TWO OF THIS SECTION.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law, provided  that  effec-
tive  immediately  any  rules, regulations and applications necessary to
implement the provisions of this act on its effective date  are  author-
ized to be completed on or before such date.