senate Bill S7050

Signed By Governor
2011-2012 Legislative Session

Extends certain provisions relating to the New York state thoroughbred breeding and development fund

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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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2012 signed chap.423
Aug 06, 2012 delivered to governor
Jun 18, 2012 returned to senate
passed assembly
ordered to third reading rules cal.255
substituted for a10295
Jun 14, 2012 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1257
committee discharged and committed to rules
Apr 25, 2012 referred to racing, gaming and wagering

Votes

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S7050 - Bill Details

See Assembly Version of this Bill:
A10295
Law Section:
Racing
Laws Affected:
Amd ยง2, Chap 473 of 2010

S7050 - Bill Texts

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Relates to extending the provisions relating to the New York state thoroughbred breeding and development fund until two years after the commencement of the operation of a video lottery terminal facility at Aqueduct racetrack.

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BILL NUMBER:S7050

TITLE OF BILL:
An act to amend chapter 473 of the laws of 2010 amending the racing,
pari-mutuel wagering and breeding law relating to the New York state
thoroughbred breeding and development fund, in relation to the effec-
tiveness thereof

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this legislation is to provide continued revenue to the
New York State Thoroughbred Breeding & Development Fund.

SUMMARY OF SPECIFIC PROVISIONS:
This bill would amend Chapter 473 of the laws of 2010 amending the
racing, pari-mutuel wagering and breeding law relating to the New York
state thoroughbred breeding and development fund. This section of law is
scheduled to sunset on October 28, 2012. Specifically, the following
provisions would be extended for an additional year:

o required payments to be made to the fund on a quarterly basis;
o the percentage of revenue that can be allotted to breeder awards
would be maintained at 65 percent;
o amount of money used for promoting the breeding and raising of
thoroughbred horses would be increased by one percent to an amount
up to six percent; and
o administrative allotments from the fund would be increased
from 4 percent up to 5 percent.

JUSTIFICATION:
The New York State Thoroughbred Breeding and Development Fund,
established in 1973, has helped shape the New York State thoroughbred
industry, making it the benchmark of thoroughbred programs around the
world. For over two decades, the Fund has worked to make thoroughbred
breeding and racing a vital force in New York State's economy,
utilizing its rich racing tradition, vast agricultural resources, and
thriving tourism industry. The Fund is a public benefit corporation
that oversees the registration process for foals and stallions, and
distributes incentive awards to breeders, owners, and stallion
owners. The incentives provided by the Fund are financed from within
the racing industry, using a small percentage of the total monies
wagered through the pari-mutuel system on thoroughbred racing in New
York State.

Thoroughbred breeders use this funding to invest back into breeding,
thereby keeping that money in the local economy and creating more
jobs, and strengthening the horse racing industry in New York.

The New York Racing and Breeding Program has evolved significantly
since 1973. The goals set out for the Fund have been well
accomplished, especially in the last decade. However, the industry
has seen significant declines in handle year after year. With that,

the Fund's revenue has rapidly fallen each year placing a burden on
the ability to pay awards to participants at advertised rates within
the statutory cap as the Breeding Program has grown.

Initially enacted as Chapter 473 of the Laws of 2010, this proposal
provided some flexibility to the Thoroughbred Breeding and
Development Fund. This law was slated to expire upon the commencement
of the operation of a video lottery facility at Aqueduct racetrack,
which began operations on October 28, 2011. Chapter 175 of the Laws
of 2011 extended that sunset by one year. This proposal would extend
those provisions for an additional year and provide the Board of
Directors of the Thoroughbred Breeding Fund the ability to allot
Fund revenue based on the current state of the thoroughbred industry.
Additionally, this proposal is strictly a housekeeping modification
that has no financial impact on any other organization or segment
of the industry.

PRIOR LEGISLATIVE HISTORY:
2010: Similar to Chapter 473 of the Laws of 2010 (A.11130A/S.7578A)
2011: Similar to Chapter 175 of the Laws of 2011 (A.7852A/S.3949B)

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

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

                                  7050

                            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  chapter 473 of the laws of 2010 amending the racing,
  pari-mutuel wagering and breeding law relating to the New  York  state
  thoroughbred  breeding and development fund, in relation to the effec-
  tiveness thereof

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

  Section  1.  Section 2 of chapter 473 of the laws of 2010 amending the
racing, pari-mutuel wagering and breeding law relating to the  New  York
state  thoroughbred breeding and development fund, as amended by chapter
175 of the laws of 2011, is amended to read as follows:
  S 2. This act shall take effect immediately,  provided,  however  that
this  act shall expire and be deemed repealed [one year] TWO YEARS after
the commencement of the operation of a video lottery facility  at  Aque-
duct  racetrack; provided that the chair of the New York state thorough-
bred breeding and development fund shall  notify  the  legislative  bill
drafting commission upon the occurrence of the commencement of the oper-
ation  of  a  video lottery facility at Aqueduct racetrack in order that
the commission may maintain an accurate and timely effective  data  base
of the official text of the laws of the state of New York in furtherance
of  effectuating the provisions of section 44 of the legislative law and
section 70-b of the public officers law; provided further,  that  effec-
tive  immediately  the addition, amendment and/or repeal of any rules or
regulations necessary for the implementation of this act on  its  effec-
tive  date  are  authorized  and directed to be made and completed on or
before such date.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15468-01-2

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