Assembly Bill A7306

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7306
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 5, 2021
                                ___________
 
 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  disposition  of pari-mutuel pools of the franchised
   corporation
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Paragraph c of subdivision 2 of section 238 of the racing,
 pari-mutuel wagering and breeding law, as amended by chapter 243 of  the
 laws of 2020, is amended to read as follows:
   c.  An amount equal to [three] FIVE AND NINETY-FOUR HUNDREDTHS percent
 of the total pools resulting from on-track regular bets  and  an  amount
 equal  to  five  and  ninety-four  hundredths percent of the total pools
 resulting from on-track multiple and exotic bets, and twelve percent  of
 the  total  pools  resulting from super exotic bets shall be used exclu-
 sively for purses (including stakes, premiums  and  prizes)  awarded  in
 races  conducted  by  such  franchised  corporation. Any portion of such
 percent not so used during any year shall be so used during the  follow-
 ing year, failing which such portion shall be payable to the commission-
 er  as additional tax. Such additional tax shall be payable on or before
 April first in the year following the year in which such portion is  not
 so  used  and the provisions of paragraph a of this subdivision shall be
 applicable thereto except as to the time of payment.
   § 2. Paragraph b of subdivision 8 of section 212 of the racing,  pari-
 mutuel  wagering and breeding law, as amended by chapter 243 of the laws
 of 2020, is amended to read as follows:
   b. Notwithstanding any other provision of this article, the franchised
 corporation shall be entitled to make capital expenditures, except those
 capital expenditures for the Saratoga Racecourse that may, on the advice
 of the New York state historic preservation office, adversely impact any
 historic structure that is included in or is eligible for  inclusion  in
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11009-02-1

 A. 7306                             2
 
 the national or state register of historic places, to the physical plant
 of the racetracks, grandstand, backstretch, parking and public areas set
 forth  in  the  New  York  Racing Association's capital expenditure plan
 ("capital  plan")  filed with the [commission] RACING AND WAGERING BOARD
 in two thousand seven. Any material modification to the capital plan  as
 determined  by  the  franchise  oversight  board and each future capital
 investment plan for the tracks,  grandstand,  backstretch,  parking  and
 public  areas  of  the racetracks operated by the franchised corporation
 involving the expenditure of more  than  five  million  dollars  in  the
 aggregate  shall  require  the prior approval of the franchise oversight
 board. Within five years from the date  of  commencement  of  the  video
 lottery  terminal operations at Aqueduct, and every five years thereaft-
 er, the franchised corporation shall submit to  the  oversight  board  a
 capital plan for the five-year period commencing on January first of the
 following  year.  Such  plans  shall contain both the intended object of
 expenditure and the proposed sources of financing. The franchised corpo-
 ration shall report to the franchise oversight board within ninety  days
 following the end of each fiscal year as to the amount spent pursuant to
 the capital plan.
   §  3.  This  act  shall take effect immediately and shall be deemed to
 have been in full force  and  effect  on  and  after  October  7,  2020;
 provided,  however,  that the amendments  to  section 212 of the racing,
 pari-mutuel wagering and breeding law made by section two  of  this  act
 shall   not  affect  the  repeal  of  such section  and  shall be deemed
 repealed therewith.