Assembly Bill A5992

2019-2020 Legislative Session

Relates to disclosing certain information prior to qualifying for any reduction in taxation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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2019-A5992 (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §1351, RWB L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10957
2021-2022: A3439

2019-A5992 (ACTIVE) - Summary

Relates to disclosing certain information prior to qualifying for any reduction in taxation on gaming revenue; provides that an independent financial monitor shall be appointed.

2019-A5992 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5992
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 26, 2019
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Racing and Wagering
 
 AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
   relation to disclosing certain information prior to qualifying for any
   reduction in taxation

   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 3 new subdivisions 2, 3 and 4 to read as follows:
   2. BEFORE BEING ELIGIBLE TO APPLY FOR AND QUALIFY FOR ANY REDUCTION IN
 TAXES UNDER SUBDIVISION ONE OF THIS SECTION, OR ANY OTHER PUBLIC ASSIST-
 ANCE  OR BENEFITS, A GAMING FACILITY SHALL DISCLOSE THE FOLLOWING INFOR-
 MATION 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;
   (B)  THE  NAMES  AND  PAYMENTS  MADE TO ALL INDEPENDENT CONTRACTORS IN
 EXCESS OF ONE HUNDRED THOUSAND DOLLARS FOR CALENDAR  YEAR  TWO  THOUSAND
 SEVENTEEN TO PRESENT;
              

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