Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 30, 2018 |
referred to racing, gaming and wagering |
Senate Bill S8866
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Racing, Gaming And Wagering Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(R, C) 53rd Senate District
(R, C, IP) 62nd Senate District
2017-S8866 (ACTIVE) - Details
- Current Committee:
- Senate Racing, Gaming And Wagering
- Law Section:
- Racing, Pari-Mutuel Wagering and Breeding Law
- Laws Affected:
- Amd §1351, RWB L
2017-S8866 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8866 SPONSOR: YOUNG TITLE OF BILL: An act to amend the racing, pari-mutuel wagering and breeding law, in relation to requiring certain disclosures by gaming facilities for eligibility for certain tax reductions, public assistance and benefits PURPOSE OR GENERAL IDEA OF BILL: The bill supports the intent of the upstate New York gaming development act of 2013 by ensuring that public resources are not used to assist gaming facilities without specific financial disclosure. SUMMARY OF PROVISIONS: Section 1 establishes the legislative purpose and findings. Section 2 requires a gaming facility to publicly disclose certain specific information before being able to receive a reduction in taxes or any public assistance including payments over $100,000 made to key
2017-S8866 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8866 I N S E N A T E May 30, 2018 ___________ Introduced by Sens. YOUNG, GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming and Wagering AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to requiring certain disclosures by gaming facilities for eligibility for certain tax reductions, public assistance and benefits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The legislature hereby finds and declares that the intent of the upstate New York gaming economic devel- opment act of 2013 was to aid the economic development of upstate New York by increasing employment opportunities and investment into these host communities. The legislature further finds that public resources ought not be used to assist gaming facilities. Any assistance to gaming facilities must be conditioned on full financial disclosure and an inde- pendent audit of the gaming facilities in order to show how this assist- ance would be necessary to benefit and protect the workforce of the gaming facilities and the host municipality and nearby municipalities of each gaming facility. Any assistance shall prevent self-dealing by the officers and shareholders of the gaming facility and shall not be utilized to unduly benefit or enrich the officers, shareholders, inves- tors, and lenders of any gaming facility, its holding company, interme- diary companies, subsidiaries, or affiliates. § 2. Section 1351 of the racing, pari-mutuel wagering and breeding law is amended by adding three new subdivisions 2, 3 and 4 to read as follows: 2. DISCLOSURE. BEFORE BEING ELIGIBLE TO APPLY FOR AND QUALIFY FOR ANY REDUCTION IN TAXES IN SUBDIVISION ONE OF THIS SECTION, OR ANY OTHER PUBLIC ASSISTANCE OR BENEFITS, A GAMING FACILITY SHALL DISCLOSE THE FOLLOWING INFORMATION TO THE COMMISSION: (A) THE NAMES AND PAYMENTS MADE TO ALL CASINO KEY EMPLOYEES IN EXCESS OF ONE HUNDRED THOUSAND DOLLARS FOR CALENDAR YEAR TWO THOUSAND SEVENTEEN TO PRESENT; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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