Senate Bill S1475

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1475
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2021
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Racing, Gaming and  Wager-
   ing
 
 AN  ACT  to amend the racing, pari-mutuel wagering and breeding law, the
   general municipal law and the public authorities law, in relation to a
   prohibition of certain financial assistance to gaming facilities
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1 of section 1315 of the racing, pari-mutuel
 wagering and breeding law, as added by chapter 174 of the laws of  2013,
 is amended to read as follows:
   1.  The  board  shall  establish  the minimum capital investment for a
 gaming facility by zone and region. SUCH CAPITAL  INVESTMENT  SHALL  NOT
 INCLUDE  ANY FINANCIAL ASSISTANCE AS DEFINED IN SECTION THIRTEEN HUNDRED
 ONE OF THIS ARTICLE FROM  THE  STATE,  ANY  STATE  OR  LOCAL  AUTHORITY,
 INCLUDING  WITHOUT  LIMITATION  LOCAL  DEVELOPMENT  CORPORATIONS, OR ANY
 POLITICAL SUBDIVISIONS OF THE STATE. Such investment shall include,  but
 not  be  limited  to,  a casino area, at least one hotel and other amen-
 ities; and provided further, that the board shall determine  whether  it
 will  include  the  purchase or lease price of the land where the gaming
 facility will be located or any infrastructure designed to  support  the
 site including, but not limited to, drainage, utility support, roadways,
 interchanges,  fill  and  soil  or  groundwater or surface water contam-
 ination issues. The board may consider private capital  investment  made
 previous  to  the  effective  date  of  this  section,  but  may, in its
 discretion, discount a percentage of the investment made. Upon award  of
 a  gaming  license by the commission, the applicant shall be required to
 deposit ten percent of the total investment proposed in the  application
 into  an  interest-bearing account.   Monies received from the applicant
 shall be held in escrow  until  the  final  stage  of  construction,  as
 detailed  in  the timeline of construction submitted with the licensee's
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD04961-01-1

 S. 1475                             2
 
 application and approved by the commission, at which  time  the  deposit
 plus  interest  earned  shall be returned to the applicant to be applied
 for the final stage. Should the applicant  be  unable  to  complete  the
 gaming  facility,  the deposit shall be forfeited to the state. In place
 of a cash deposit, the commission may allow for an applicant to secure a
 deposit bond insuring that ten percent of the proposed  capital  invest-
 ment  shall  be  forfeited  to  the  state if the applicant is unable to
 complete the gaming facility.
   § 2. Section 1301 of the racing, pari-mutuel wagering and breeding law
 is amended by adding a new subdivision 18-a to read as follows:
   18-A. "FINANCIAL ASSISTANCE".  FINANCIAL  ASSISTANCE  MEANS:  (A)  TAX
 EXPENDITURES GIVEN AS AN INCENTIVE TO RECIPIENT BUSINESSES, NOT-FOR-PRO-
 FIT  ORGANIZATIONS  AND  GOVERNMENT  ENTITIES  FOR  ECONOMIC DEVELOPMENT
 PURPOSES;
   (B) DISPOSITION OF ANY PUBLICLY OWNED  PROPERTY  FOR  LESS  THAN  FAIR
 MARKET  VALUE, WHICH SHALL BE DETERMINED BASED ON AN INDEPENDENT ASSESS-
 MENT ACCOUNTING FOR THE HIGHEST  REASONABLY  PROJECTED  GAMING  FACILITY
 REVENUES;
   (C) GRANTS OR LOANS AWARDED BY ALL STATE AND MUNICIPAL GRANTING BODIES
 AND INDUSTRIAL DEVELOPMENT AGENCIES TO BUSINESSES, NOT-FOR-PROFIT ORGAN-
 IZATIONS  AND  GOVERNMENT  ENTITIES  FOR  CONSTRUCTION OR OPERATION OF A
 GAMING FACILITY; AND
   (D) ALL SUCCESSOR AND SUBSEQUENT DEVELOPMENT ASSISTANCE  PROGRAMS  AND
 TAX  EXPENDITURES  DESIGNED  TO  PROMOTE  LARGE BUSINESS RELOCATIONS AND
 EXPANSIONS.
   § 3. Section 862 of the general municipal law is amended by  adding  a
 new subdivision 3 to read as follows:
   (3)  NO  FINANCIAL  ASSISTANCE  OF THE AGENCY SHALL BE PROVIDED TO ANY
 GAMING FACILITY AUTHORIZED PURSUANT TO ARTICLE THIRTEEN OF  THE  RACING,
 PARI-MUTUEL WAGERING AND BREEDING LAW.
   §  4.  The  public  authorities law is amended by adding a new section
 2879-d to read as follows:
   § 2879-D. FINANCIAL  ASSISTANCE  TO  GAMING  FACILITIES;  PROHIBITION.
 EVERY PUBLIC AUTHORITY AND PUBLIC BENEFIT CORPORATION SHALL BE PROHIBIT-
 ED  FROM  PROVIDING ANY FINANCIAL ASSISTANCE AS DEFINED IN SECTION THIR-
 TEEN HUNDRED ONE OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW TO
 ANY GAMING FACILITY AUTHORIZED  PURSUANT  TO  ARTICLE  THIRTEEN  OF  THE
 RACING,  PARI-MUTUEL  WAGERING  AND BREEDING LAW.   FOR PURPOSES OF THIS
 SECTION, "EVERY PUBLIC AUTHORITY AND PUBLIC BENEFIT  CORPORATION"  SHALL
 INCLUDE   SUBSIDIARIES  AND  LOCAL  DEVELOPMENT  CORPORATIONS.  PROVIDED
 FURTHER THAT THE PROVISIONS OF THIS SECTION DO NOT GRANT OR DIMINISH ANY
 POWER OR RIGHT TO REVIEW OR APPROVE CONTRACTS BEYOND OR FROM THAT  WHICH
 THE  COMPTROLLER  MAY HAVE PURSUANT TO HIS OR HER AUTHORITY TO SUPERVISE
 THE ACCOUNTS OF PUBLIC AUTHORITIES.
   § 5. This act shall take effect immediately.