senate Bill S7049

Signed By Governor
2011-2012 Legislative Session

Relates to extending certain provisions relating to capital awards to vendor tracks

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 07, 2012 signed chap.454
Aug 27, 2012 delivered to governor
Jun 19, 2012 returned to senate
passed assembly
ordered to third reading rules cal.362
substituted for a10092
Jun 12, 2012 referred to ways and means
delivered to assembly
passed senate
Jun 11, 2012 advanced to third reading
Jun 06, 2012 2nd report cal.
Jun 05, 2012 1st report cal.1070
May 22, 2012 reported and committed to finance
Apr 25, 2012 referred to racing, gaming and wagering

Votes

view votes

Jun 5, 2012 - Finance committee Vote

S7049
34
0
committee
34
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

May 22, 2012 - Racing, Gaming and Wagering committee Vote

S7049
7
0
committee
7
Aye
0
Nay
1
Aye with Reservations
0
Absent
2
Excused
0
Abstained
show Racing, Gaming and Wagering committee vote details

Racing, Gaming and Wagering Committee Vote: May 22, 2012

aye wr (1)
excused (2)

S7049 - Details

See Assembly Version of this Bill:
A10092
Law Section:
Tax Law
Laws Affected:
Amd ยง1612, Tax L

S7049 - Summary

Extends certain provisions relating to capital awards to vendor tracks.

S7049 - Sponsor Memo

S7049 - Bill Text download pdf

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

                                  7049

                            I N  S E N A T E

                             April 25, 2012
                               ___________

Introduced  by  Sen. BONACIC -- 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 tax law, in relation to capital awards to vendor
  tracks

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

  Section  1. Clause (H) of subparagraph (ii) of paragraph 1 of subdivi-
sion b of section 1612 of the tax law, as amended by section 6 of part K
of chapter 57 of the laws of 2010, is amended to read as follows:
  (H) notwithstanding clauses (A), (B), (C), (D), (E), (F)  and  (G)  of
this  subparagraph, the track operator of a vendor track shall be eligi-
ble for a vendor's capital award of up to  four  percent  of  the  total
revenue  wagered at the vendor track after payout for prizes pursuant to
this chapter, which  shall  be  used  exclusively  for  capital  project
investments  to improve the facilities of the vendor track which promote
or encourage increased attendance at the video lottery  gaming  facility
including,  but  not limited to hotels, other lodging facilities, enter-
tainment  facilities,  retail  facilities,  dining  facilities,   events
arenas,  parking  garages  and  other improvements that enhance facility
amenities; provided that such capital investments shall be  approved  by
the  division, in consultation with the state racing and wagering board,
and that such vendor track demonstrates that such  capital  expenditures
will  increase  patronage at such vendor track's facilities and increase
the amount of revenue generated to support state education programs. The
annual amount of such vendor's capital awards that a vendor track  shall
be  eligible  to  receive  shall  be limited to two million five hundred
thousand dollars, except for Aqueduct racetrack, for which  there  shall
be  no  vendor's  capital awards. Except for tracks having less than one
thousand one hundred video gaming machines, each track operator shall be
required to co-invest an amount of  capital  expenditure  equal  to  its
cumulative  vendor's  capital award. For all tracks, except for Aqueduct
racetrack, the amount of any vendor's capital award  that  is  not  used
during  any  one  year  period may be carried over into subsequent years

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

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