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Assembly Bill A5445

2021-2022 Legislative Session

Relates to racing support payments

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Archive: Last Bill Status - In Assembly Committee

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2021-A5445 (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §1355, RWB L

2021-A5445 (ACTIVE) - Summary

Provides that by the last day of the first month following the end of each fiscal quarter, the relevant horsemen and breeders organizations shall provide the licensee with a calculation of the support payment owed by the licensee; makes related provisions.

2021-A5445 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5445
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 16, 2021
                                ___________
 
 Introduced  by M. of A. WOERNER -- 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 racing support payments
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 1355 of the racing, pari-mutuel wagering and breed-
 ing law is amended by adding a new subdivision 3 to read as follows:
   3. (A) BY THE LAST DAY OF THE FIRST MONTH FOLLOWING THE  END  OF  EACH
 FISCAL  QUARTER,  THE RELEVANT HORSEMEN AND BREEDERS ORGANIZATIONS SHALL
 PROVIDE THE LICENSEE WITH A CALCULATION OF THE SUPPORT PAYMENT  OWED  BY
 THE  LICENSEE  PURSUANT  TO  PARAGRAPH  (A)  OF  SUBDIVISION TWO OF THIS
 SECTION, WITH RESPECT TO SUCH FISCAL QUARTER;  PROVIDED,  HOWEVER,  WITH
 RESPECT  TO THE SUPPORT PAYMENT FOR THE FOURTH FISCAL QUARTER, THE RELE-
 VANT HORSEMEN AND BREEDERS ORGANIZATIONS ARE  NOT  REQUIRED  TO  PROVIDE
 SUCH CALCULATION EARLIER THAN FIVE BUSINESS DAYS AFTER THE AVERAGE ANNU-
 AL CHANGE HAS BEEN PUBLISHED FOR THE APPLICABLE YEAR. WHEN PROVIDING ITS
 CALCULATION  OF ANY SUPPORT PAYMENT TO THE LICENSEE, THE RELEVANT HORSE-
 MEN AND BREEDERS ORGANIZATIONS SHALL ALSO SIMULTANEOUSLY PROVIDE TO  THE
 LICENSEE REASONABLE DETAIL SUPPORTING SUCH CALCULATION.
   (B) WITHIN FIFTEEN BUSINESS DAYS AFTER THE LATER OF: (I) RECEIVING THE
 RELEVANT  HORSEMEN  AND BREEDERS ORGANIZATIONS' CALCULATION WITH RESPECT
 TO ANY SUPPORT PAYMENT AND (II) THE LAST DAY OF THE FIRST MONTH  FOLLOW-
 ING  THE  END  OF  EACH  FISCAL QUARTER, THE LICENSEE SHALL DEPOSIT SUCH
 SUPPORT AMOUNT INTO AN ESCROW ACCOUNT ESTABLISHED BY THE COMMISSION IN A
 BANK OR TRUST COMPANY DOING BUSINESS IN  THIS  STATE.  IF  THE  LICENSEE
 AGREES  WITH  ANY SUCH CALCULATION, SUCH FUNDS DEPOSITED INTO THE ESCROW
 ACCOUNT SHALL BE IMMEDIATELY TRANSFERRED BY THE COMMISSION TO THE  PURSE
 ACCOUNT. IF THE LICENSEE DISPUTES THE CALCULATION OF ANY SUPPORT PAYMENT
 PROVIDED  BY  THE  RELEVANT  HORSEMEN  AND  BREEDERS ORGANIZATIONS, THEN
 REPRESENTATIVES OF THE LICENSEE AND THE RELEVANT HORSEMEN  AND  BREEDERS
 ORGANIZATIONS MAY MAKE A DEMAND FOR EXPEDITED ARBITRATION BY THE COMMIS-
 SION.
   § 2. This act shall take effect immediately.

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