Assembly Bill A8468A

2021-2022 Legislative Session

Relates to the investment of funds wagered on video lottery gaming for certain horse races; repealer

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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Bill Amendments

co-Sponsors

2021-A8468 - Details

See Senate Version of this Bill:
S8485
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§1612 & 1617-a, rpld §1612 sub b ¶3, Tax L; rpld §1355 sub 1 ¶(b), RWB L
Versions Introduced in 2021-2022 Legislative Session:
A8468, S8485

2021-A8468 - Summary

Relates to the investment of funds wagered on video lottery gaming for certain horse races.

2021-A8468 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8468
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 17, 2021
                                ___________
 
 Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law and the state finance law,  in  relation  to
   the  investment  of  funds wagered on video lottery gaming for certain
   horse races; and to repeal paragraph b of  subdivision  1  of  section
   1355  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 f of section 1612 of the tax law, as amended by
 chapter  174 of the laws of 2013, paragraph 1 as amended by section 2 of
 part OO of chapter 59 of the laws of 2014 and paragraph 3 as amended  by
 section  2  of  part  V of chapter 59 of the laws of 2020, is amended to
 read as follows:
   f. As consideration for the operation  of  the  video  lottery  gaming
 facility  at Aqueduct racetrack, the division shall cause the investment
 in THE STATE OF NEW YORK  AND  the  racing  industry  of  the  following
 percentages of the vendor fee to be deposited or paid, as follows:
   1.  Six  and  one-half  percent  of  the total wagered after payout of
 prizes for the first year of operation of video lottery gaming at  Aque-
 duct  racetrack,  seven  percent  of  the  total wagered after payout of
 prizes for the second year of operation, and seven and one-half  percent
 of the total wagered after payout of prizes for the third year of opera-
 tion  and  thereafter,  for the purpose of [enhancing purses at Aqueduct
 racetrack, Belmont Park racetrack and Saratoga race course. One  percent
 of  the gross purse enhancement amount, as required by this subdivision,
 shall be paid to the gaming commission to be used exclusively to promote
 and ensure equine health and safety in New York.  Any  portion  of  such
 funding  to  the  gaming commission unused during a fiscal year shall be
 returned on a pro rata basis in accordance with the  amounts  originally
 contributed  and  shall  be  used for the purpose of enhancing purses at

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13560-01-1
              

co-Sponsors

2021-A8468A (ACTIVE) - Details

See Senate Version of this Bill:
S8485
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§1612 & 1617-a, rpld §1612 sub b ¶3, Tax L; rpld §1355 sub 1 ¶(b), RWB L
Versions Introduced in 2021-2022 Legislative Session:
A8468, S8485

2021-A8468A (ACTIVE) - Summary

Relates to the investment of funds wagered on video lottery gaming for certain horse races.

2021-A8468A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8468--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 17, 2021
                                ___________
 
 Introduced  by  M.  of  A.  L. ROSENTHAL, SEAWRIGHT, GOTTFRIED, EPSTEIN,
   GONZALEZ-ROJAS,  SIMON,  KIM,  FERNANDEZ,  BURGOS  --  read  once  and
   referred  to  the  Committee  on  Ways and Means -- recommitted to the
   Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2
   -- committee discharged, bill amended, ordered  reprinted  as  amended
   and recommitted to said committee
 
 AN  ACT  to  amend  the  tax law, in relation to the investment of funds
   wagered on video lottery gaming for certain  horse  races;  to  repeal
   certain  provisions  of  the  tax  law relating thereto; and to repeal
   paragraph b of subdivision 1 of section 1355 of the racing, pari-mutu-
   el 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 f of section 1612 of the tax law, as amended by
 chapter  174 of the laws of 2013, paragraph 1 as amended by section 2 of
 part OO of chapter 59 of the laws of 2014 and paragraph 3 as amended  by
 section  2  of  part  V of chapter 59 of the laws of 2020, is amended to
 read as follows:
   f. As consideration for the operation  of  the  video  lottery  gaming
 facility  at Aqueduct racetrack, the division shall cause the investment
 in THE EDUCATION SYSTEM OF THE STATE OF NEW YORK AND the racing industry
 of the following percentages of the vendor fee to be deposited or  paid,
 as follows:
   1.  Six  and  one-half  percent  of  the total wagered after payout of
 prizes for the first year of operation of video lottery gaming at  Aque-
 duct  racetrack,  seven  percent  of  the  total wagered after payout of
 prizes for the second year of operation, and seven and one-half  percent
 of the total wagered after payout of prizes for the third year of opera-
 tion  and  thereafter,  for the purpose of [enhancing purses at Aqueduct
 racetrack, Belmont Park racetrack and Saratoga race course. One  percent
 of  the gross purse enhancement amount, as required by this subdivision,

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13560-05-2
              

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