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Assembly Bill A8494

2017-2018 Legislative Session

Relates to the market origin fee for multi-jurisdictional account wagering providers

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Archive: Last Bill Status - In Assembly Committee

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2017-A8494 (ACTIVE) - Details

See Senate Version of this Bill:
S6785
Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §1012-a, RWB L

2017-A8494 (ACTIVE) - Summary

Increases the market origin fee for multi-jurisdictional account wagering providers from five to seven and one half per centum.

2017-A8494 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8494
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 16, 2017
                                ___________
 
 Introduced by M. of A. McDONALD, PRETLOW, FAHY -- read once and referred
   to the Committee on Racing and Wagering
 
 AN  ACT  to  amend the racing, pari-mutuel wagering and breeding law, in
   relation to multi-jurisdictional account wagering providers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 6  of section 1012-a 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:
   6. multi-jurisdictional account wagering providers shall pay a  market
 origin  fee  equal to [five] SEVEN AND ONE-HALF per centum on each wager
 accepted from New York residents. Multi-jurisdictional account  wagering
 providers  shall make the required payments to the market origin account
 on or before the fifth business day of  each  month  and  such  required
 payments shall cover payments due for the period of the preceding calen-
 dar  month; provided, however, that such payments required to be made on
 April fifteenth shall be accompanied by a report under oath, showing the
 total of all such payments, together with such other information as  the
 commission may require. A penalty of five per centum and interest at the
 rate of one per centum per month from the date the report is required to
 be  filed  to the date the payment shall be payable in case any payments
 required by this subdivision are paid when due. If the commission deter-
 mines that any moneys received  under  this  subdivision  were  paid  in
 error, the commission may cause the same to be refunded without interest
 out of any moneys collected thereunder, provided an application therefor
 is filed with the commission within one year from the time the erroneous
 payment  was  made.  The commission shall pay into the racing regulation
 account, under the joint custody of the comptroller and the  commission,
 the total amount of the fee collected pursuant to this section.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13254-01-7

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