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Senate Bill S5501

2017-2018 Legislative Session

Relates to vendor fees at vendor tracks

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Archive: Last Bill Status - Stricken

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2017-S5501 (ACTIVE) - Details

See Assembly Version of this Bill:
A7240
Law Section:
Tax Law
Laws Affected:
Amd §1612, Tax L

2017-S5501 (ACTIVE) - Summary

Relates to vendor fees at vendor tracks.

2017-S5501 (ACTIVE) - Sponsor Memo

2017-S5501 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5501
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               April 3, 2017
                                ___________
 
 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 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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