Senate Bill S4913A

2019-2020 Legislative Session

Provides for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corporation to the New York city employees' retirement system

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Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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-S4913 - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
New York City
Versions Introduced in 2017-2018 Legislative Session:
S8945

2019-S4913 - Summary

Provides for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corporation to the New York city employees' retirement system.

2019-S4913 - Sponsor Memo

2019-S4913 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4913
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 29, 2019
                                ___________
 
 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN  ACT  to provide for the payment of the annual contributions owed and
   to be owed on behalf of the New York  city  off-track  betting  corpo-
   ration to the New York city employees' retirement system

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Statement of legislative findings and intent. The  legisla-
 ture  hereby  finds  that  the  state has a statutory and constitutional
 obligation to protect and  fund  the  pension  benefits  of  the  former
 employees  and  retirees  of the defunct New York city off-track betting
 corporation.
   The New York city off-track betting corporation is  a  public  benefit
 corporation created pursuant to state law and is a participating employ-
 er  in the New York city employees' retirement system. The pension bene-
 fits of the corporation's former employees and  retirees  are  protected
 from impairment under article V, section 7 of the state constitution.
   In 2008, the state legislatively enhanced its role with respect to the
 New  York city off-track betting corporation due to its financial diffi-
 culties, thus becoming its successor for purposes of assuming the statu-
 tory and constitutional obligation to make  pension  contributions.  The
 corporation ceased operations in 2010 and has since failed to make annu-
 al  contributions  to  the New York city employees' retirement system as
 required under the administrative code of the city of New York.
   Sections 13-130 and 13-638.2 of the administrative code of the city of
 New York provide that the  employer  liabilities  of  a  public  benefit
 corporation that participates in the New York city employees' retirement
 system,  such as the New York city off-track betting corporation, are to
 be paid by the corporation or a successor. On March 8, 2018,  the  board
 of  trustees of the New York city employees' retirement system adopted a
 resolution recognizing the state as a successor to  the  New  York  city
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S4913A - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
New York City
Versions Introduced in 2017-2018 Legislative Session:
S8945

2019-S4913A - Summary

Provides for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corporation to the New York city employees' retirement system.

2019-S4913A - Sponsor Memo

2019-S4913A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4913--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 29, 2019
                                ___________
 
 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
   --  recommitted  to  the  Committee  on  Civil Service and Pensions in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to provide for the payment of the annual contributions  owed  and
   to  be  owed  on  behalf of the New York city off-track betting corpo-
   ration to the New York city employees' retirement system
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Statement of legislative findings and intent. The legisla-
 ture hereby finds that the state  has  a  statutory  and  constitutional
 obligation  to  protect  and  fund  the  pension  benefits of the former
 employees and retirees of the defunct New York  city  off-track  betting
 corporation.
   The  New  York  city off-track betting corporation is a public benefit
 corporation created pursuant to state law and is a participating employ-
 er in the New York city employees' retirement system. The pension  bene-
 fits  of  the  corporation's former employees and retirees are protected
 from impairment under article V, section 7 of the state constitution.
   In 2008, the state legislatively enhanced its role with respect to the
 New York city off-track betting corporation due to its financial  diffi-
 culties, thus becoming its successor for purposes of assuming the statu-
 tory  and  constitutional  obligation to make pension contributions. The
 corporation ceased operations in 2010 and has since failed to make annu-
 al contributions to the New York city employees'  retirement  system  as
 required under the administrative code of the city of New York.
   Sections 13-130 and 13-638.2 of the administrative code of the city of
 New  York  provide  that  the  employer  liabilities of a public benefit
 corporation that participates in the New York city employees' retirement

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S4913B (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
New York City
Versions Introduced in 2017-2018 Legislative Session:
S8945

2019-S4913B (ACTIVE) - Summary

Provides for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corporation to the New York city employees' retirement system.

2019-S4913B (ACTIVE) - Sponsor Memo

2019-S4913B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4913--B
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 29, 2019
                                ___________
 
 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
   --  recommitted  to  the  Committee  on  Civil Service and Pensions in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to provide for the payment of the annual contributions owed and
   to be owed on behalf of the New York  city  off-track  betting  corpo-
   ration to the New York city employees' retirement system
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Statement of legislative findings and intent. The  legisla-
 ture  hereby  finds  that  the  state has a statutory and constitutional
 obligation to protect and  fund  the  pension  benefits  of  the  former
 employees  and  retirees  of the defunct New York city off-track betting
 corporation.
   The New York city off-track betting corporation is  a  public  benefit
 corporation created pursuant to state law and is a participating employ-
 er  in the New York city employees' retirement system. The pension bene-
 fits of the corporation's former employees and  retirees  are  protected
 from impairment under article V, section 7 of the state constitution.
   In 2008, the state legislatively enhanced its role with respect to the
 New  York city off-track betting corporation due to its financial diffi-
 culties, thus becoming its successor for purposes of assuming the statu-
 tory and constitutional obligation to make  pension  contributions.  The
 corporation ceased operations in 2010 and has since failed to make annu-
 al  contributions  to  the New York city employees' retirement system as
 required under the administrative code of the city of New York.
   Sections 13-130 and 13-638.2 of the administrative code of the city of
 New York provide that the  employer  liabilities  of  a  public  benefit
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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