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Assembly Bill A6352

2019-2020 Legislative Session

Relates to the transferring of monies held in the non-escrowed account for payment of outstanding winning tickets and for payment of refunds to ticket holders; repealer

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Archive: Last Bill Status - In Assembly Committee

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2019-A6352 (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §§529 & 1016, rpld §1016 sub 1 ¶b sub¶ 5 clause (E), sub 1 ¶b sub¶ 6 clause (F), §1017 sub 2, RWB L
Versions Introduced in Other Legislative Sessions:
2021-2022: A1397
2023-2024: A4787
2025-2026: A6019

2019-A6352 (ACTIVE) - Summary

Relates to the transferring of monies held in the non-escrowed account for payment of outstanding winning tickets and for payment of refunds to ticket holders; any amount that remains unclaimed after April first of each year shall be transferred to the regional corporation's operating account.

2019-A6352 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6352
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 6, 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  the  transferring  of  monies  held  in the non-escrowed
   account for payment of outstanding winning tickets and for payment  of
   refunds  to  ticket  holders;  and to repeal certain provisions of the
   racing, pari-mutuel wagering and breeding law relating thereto
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  2  of section 529 of the racing, pari-mutuel
 wagering and breeding law is amended to read as follows:
   2. [Ninety-five percent of  the  balance  of  such  account  remaining
 unclaimed  as  of the last day of February of such year shall be paid to
 the state tax commission by March fifteenth. On or before April tenth of
 each year the balance of such account and any  other  unclaimed  amounts
 received  in the course of conducting off-track betting shall be paid by
 such corporation to the state tax commission. A penalty of five  percent
 and  interest  at the rate of one percent per month from the due date to
 the date of payment of the unclaimed  balance  due  March  fifteenth  or
 April  tenth,  as the case may be, shall be payable in case such balance
 is not  paid  when  due.  Such  amounts,  interest  and  penalties  when
 collected by the state tax commission shall be deposited into the gener-
 al  fund  of  the state treasury.] THE BALANCE OF SUCH ACCOUNT REMAINING
 UNCLAIMED AS OF APRIL FIRST OF SUCH YEAR SHALL  BE  TRANSFERRED  TO  THE
 REGIONAL  CORPORATION'S OPERATING ACCOUNT AND MAY BE USED FOR ANY CORPO-
 RATE PURPOSES.
   § 2. Clause (E) of subparagraph 5 of paragraph b of subdivision  1  of
 section  1016  of  the  racing, pari-mutuel wagering and breeding law is
 REPEALED and clause (F) is relettered clause (E).
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09721-01-9

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