senate Bill S8471

2021-2022 Legislative Session

Amends the definition of wager and changes the licensing requirements for mobile sports wagering operators

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 25, 2022 reported and committed to finance
Mar 04, 2022 referred to racing, gaming and wagering

Votes

view votes

Apr 25, 2022 - Racing, Gaming and Wagering committee Vote

S8471
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Racing, Gaming and Wagering committee vote details

Racing, Gaming and Wagering Committee Vote: Apr 25, 2022

S8471 (ACTIVE) - Details

See Assembly Version of this Bill:
A8658
Current Committee:
Senate Finance
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §§1367 & 1367-a, RWB L

S8471 (ACTIVE) - Summary

Amends the definition of sports wager to include other things of value; changes the licensing requirement for mobile sports wagering operators; provides the state shall by no later than January 31, 2023 have fourteen operators and by January 31, 2024 have sixteen operators; provides tax rates shall be determined based on the number of operators.

S8471 (ACTIVE) - Sponsor Memo

S8471 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8471
 
                             I N  S E N A T E
 
                               March 4, 2022
                                ___________
 
 Introduced  by  Sen. ADDABBO -- 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, in
   relation to the definition of wager and the licensing of mobile sports
   wagering operators
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (w)  of  subdivision  1 of section 1367 of the
 racing, pari-mutuel wagering and breeding law, as amended by  section  3
 of  part  Y  of  chapter  59  of the laws of 2021, is amended to read as
 follows:
   (w) "Sports wager" means cash [or], cash equivalent OR THING OF  VALUE
 that  is  paid  by  an  authorized sports bettor to a casino or a mobile
 sports wagering licensee to participate in sports  wagering  offered  by
 such casino or mobile sports wagering licensee;
   §  2.  Paragraph  (y)  of subdivision 1 of section 1367 of the racing,
 pari-mutuel wagering and breeding law, as amended by section 3 of part Y
 of chapter 59 of the laws of 2021, is amended to read as follows:
   (y) "Sports wagering gross revenue" means: [(i)] the amount  equal  to
 the  total  of  all  sports wagers not attributable to prohibited sports
 events that a CASINO OR mobile sports wagering  licensee  collects  from
 all  sports  bettors,  EXCLUDING WAGERS PLACED WITH PROMOTIONAL WAGERING
 CREDITS OR OTHER THINGS OF VALUE, less the total of all sums not attrib-
 utable to prohibited sports events paid out as winnings  to  all  sports
 bettors,  however,  that  the  total of all sums paid out as winnings to
 sports bettors shall not  include  the  cash  equivalent  value  of  any
 merchandise  or  thing  of value awarded as a prize, AND LESS ALL EXCISE
 TAXES ON SPORTS WAGERS NOT ATTRIBUTABLE TO PROHIBITED SPORTS EVENTS PAID
 PURSUANT TO FEDERAL LAW;
   § 3. Subdivision 7 of section 1367 of the racing, pari-mutuel wagering
 and breeding law, as added by section 3 of part Y of chapter 59  of  the
 laws of 2021, is amended to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14112-03-2

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