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Senate Bill S5869

2015-2016 Legislative Session

Relates to the amount of investment required in a proposed gaming facility

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Sponsored By

Archive: Last Bill Status - In Senate Committee Racing, Gaming And Wagering Committee

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2015-S5869 (ACTIVE) - Details

See Assembly Version of this Bill:
A8207
Current Committee:
Senate Racing, Gaming And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd ยง1316, RWB L

2015-S5869 (ACTIVE) - Summary

Requires a licensee to invest the total investment proposed in the licensee's final application in a proposed gaming facility.

2015-S5869 (ACTIVE) - Sponsor Memo

2015-S5869 (ACTIVE) - Bill Text download pdf 

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

                                  5869

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              June 9, 2015
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Rules

AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
  relation  to  the  amount  of investment required in a proposed gaming
  facility

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

  Section  1.  Subdivision  1 of section 1316 of the racing, pari-mutuel
wagering and breeding law, as added by chapter 174 of the laws of  2013,
is amended to read as follows:
  1.  in  accordance with the design plans submitted with the licensee's
application to the board, invest not less  than  [the  required  capital
under  this  article]  THE  TOTAL  INVESTMENT PROPOSED IN THE LICENSEE'S
FINAL APPLICATION, AS SUCH APPLICATION WAS APPROVED BY THE  BOARD,  into
the gaming facility;
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11507-01-5

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