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Assembly Bill A2345

2011-2012 Legislative Session

Increases state aid payments to cities with video lottery gaming facilities

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Archive: Last Bill Status - In Assembly Committee

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2011-A2345 (ACTIVE) - Details

See Senate Version of this Bill:
S538
Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd ยง54-l, St Fin L
Versions Introduced in 2009-2010 Legislative Session:
A5403, S1869

2011-A2345 (ACTIVE) - Summary

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

2011-A2345 (ACTIVE) - Bill Text download pdf 

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

                                  2345

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 18, 2011
                               ___________

Introduced  by  M. of A. SPANO, BROOK-KRASNY -- Multi-Sponsored by -- M.
  of A. PHEFFER -- read once and referred to the Committee on  Ways  and
  Means

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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