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Assembly Bill A7240

2017-2018 Legislative Session

Relates to vendor fees at vendor tracks

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Archive: Last Bill Status - In Assembly Committee

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2017-A7240 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1612, Tax L

2017-A7240 (ACTIVE) - Summary

Relates to vendor fees at vendor tracks.

2017-A7240 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7240
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 12, 2017
                                ___________
 
 Introduced  by M. of A. GUNTHER -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to vendor fees at vendor tracks
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Clause (F) of subparagraph (ii) of paragraph 1 of subdivi-
 sion b of section 1612 of the tax law, as amended by section 1  of  part
 EE of chapter 60 of the laws of 2016, is amended to read as follows:
   (F) notwithstanding clauses (A), (B), (C), (D) and (E) of this subpar-
 agraph,  when  a  vendor track, is located in Sullivan county and within
 sixty miles from any gaming facility in a contiguous state  such  vendor
 fee  shall, for a period of [nine] TEN years commencing April first, two
 thousand eight, be at a rate of forty-one percent of the  total  revenue
 wagered  at  the  vendor  track after payout for prizes pursuant to this
 chapter, after which time such rate shall be as for all tracks in clause
 (C) of this subparagraph.
   § 2. This act shall take effect immediately and  shall  be  deemed  to
 have been in full force and effect on and after April 1, 2017.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10919-01-7

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