Senate Bill S9143

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9143
 
                             I N  S E N A T E
 
                             February 5, 2026
                                ___________
 
 Introduced  by  Sen. C. RYAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN  ACT to amend the economic development law, in relation to establish-
   ing the empire state sports and entertainment fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  economic  development law is amended by adding a new
 article 29 to read as follows:
                                ARTICLE 29
                EMPIRE STATE SPORTS AND ENTERTAINMENT FUND
 SECTION 520. SHORT TITLE.
         521. STATEMENT OF LEGISLATIVE FINDINGS AND DECLARATION.
         522. DEFINITIONS.
         523. ELIGIBILITY CRITERIA.
         524. APPLICATION AND APPROVAL PROCESS.
         525. POWERS AND DUTIES OF THE COMMISSIONER.
         526. MAINTENANCE OF RECORDS.
   § 520. SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY  BE  CITED  AS
 THE "EMPIRE STATE SPORTS AND ENTERTAINMENT FUND".
   § 521. STATEMENT OF LEGISLATIVE FINDINGS AND DECLARATION. IT IS HEREBY
 FOUND  AND  DECLARED  THAT  NEW  YORK STATE NEEDS, AS A MATTER OF PUBLIC
 POLICY, TO CREATE COMPETITIVE FINANCIAL INCENTIVES TO ATTRACT SPORTS AND
 ENTERTAINMENT EVENTS THAT CAN BE LOCATED IN ANY STATE.  THE EMPIRE STATE
 SPORTS AND ENTERTAINMENT FUND IS CREATED TO HELP NEW YORK  COMPETE  WITH
 OTHER STATES FOR THE SITING OF THESE UNIQUE OPPORTUNITIES.
   THIS  ARTICLE  CREATES  A  FUND  THAT  WILL  MAKE NEW YORK VENUES MORE
 COMPETITIVE WHEN TRYING TO SECURE THESE TYPES OF EVENTS. THE SPORTS  AND
 ENTERTAINMENT  OPPORTUNITIES  TARGETED  BY THIS FUND WILL BE EVENTS THAT
 ARE NOT CURRENTLY DESIGNATED FOR NEW YORK AND THAT ARE  NOT  PART  OF  A
 REGULAR  SCHEDULE  IN  NEW YORK AND COULD REASONABLY BE LOCATED IN OTHER
 MARKETS.
   § 522. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14308-01-5
              

 S. 9143                             2
 
   1. "QUALIFYING SPORTS OR ENTERTAINMENT EVENT" MEANS A SPORTS OR ENTER-
 TAINMENT EVENT THAT IS NOT PART  OF  A  FIXED,  RECURRING  RESIDENCY  OR
 EXCLUSIVE  HOME SCHEDULE AT A SINGLE VENUE IN THE STATE, THAT HAS A LIVE
 AUDIENCE OF AT LEAST FIVE THOUSAND  TICKETHOLDERS,  AND  IS  CAPABLE  OF
 BEING  HELD IN OTHER STATES OR MARKETS AND IS NOT CONTRACTUALLY, LEGALLY
 OR OTHERWISE OBLIGATED TO TAKE PLACE IN THE STATE.
   2. "CERTIFICATE OF ELIGIBILITY"  MEANS  THE  DOCUMENT  ISSUED  BY  THE
 DEPARTMENT  TO  AN  APPLICANT  THAT  HAS  COMPLETED AN APPLICATION TO BE
 ADMITTED INTO THE EMPIRE STATE SPORTS AND ENTERTAINMENT FUND PROGRAM AND
 HAS BEEN ACCEPTED INTO THE PROGRAM BY THE DEPARTMENT.  POSSESSION  OF  A
 CERTIFICATE  OF ELIGIBILITY DOES NOT BY ITSELF GUARANTEE THE ELIGIBILITY
 TO CLAIM ANY FUNDS.
   3. "CERTIFICATE OF FUNDING" MEANS THE DOCUMENT ISSUED TO A PARTICIPANT
 BY THE DEPARTMENT, AFTER THE DEPARTMENT HAS VERIFIED  THAT  THE  PARTIC-
 IPANT  HAS MET ALL APPLICABLE ELIGIBILITY CRITERIA IN THIS ARTICLE.  THE
 CERTIFICATE SHALL BE ISSUED IF SUCH CRITERIA  ARE  SATISFIED  AND  SHALL
 SPECIFY  THE  EXACT  AMOUNT OF FUNDING UNDER THIS ARTICLE THAT A PARTIC-
 IPANT MAY CLAIM AND SHALL SPECIFY THE TAXABLE YEAR IN WHICH SUCH FUNDING
 MAY BE AWARDED.
   4. "PARTICIPANT" MEANS A BUSINESS ENTITY THAT:
   (A) HAS COMPLETED AN APPLICATION PRESCRIBED BY THE  DEPARTMENT  TO  BE
 ADMITTED INTO THE PROGRAM;
   (B) HAS BEEN ISSUED A CERTIFICATE OF ELIGIBILITY BY THE DEPARTMENT;
   (C) HAS DEMONSTRATED THAT IT MEETS THE ELIGIBILITY CRITERIA IN SECTION
 FIVE  HUNDRED  TWENTY-THREE  AND SUBDIVISION TWO OF SECTION FIVE HUNDRED
 TWENTY-FOUR OF THIS ARTICLE; AND
   (D) HAS BEEN CERTIFIED AS A PARTICIPANT BY THE COMMISSIONER.
   § 523. ELIGIBILITY CRITERIA. 1. TO BE  A  PARTICIPANT  IN  THE  EMPIRE
 STATE  SPORTS  AND  ENTERTAINMENT  FUND,  A BUSINESS ENTITY SHALL HOST A
 QUALIFYING SPORTS OR ENTERTAINMENT EVENT IN NEW YORK STATE.
   2. A BUSINESS ENTITY MUST BE IN COMPLIANCE WITH ALL WORKER  PROTECTION
 LAWS  AND  REGULATIONS.  IN ADDITION, A BUSINESS ENTITY MAY NOT OWE PAST
 DUE STATE TAXES.
   § 524. APPLICATION AND APPROVAL PROCESS. 1.  A  BUSINESS  ENTITY  MUST
 SUBMIT  A  COMPLETED APPLICATION AS PRESCRIBED BY THE COMMISSIONER. SUCH
 COMPLETED APPLICATION MUST BE SUBMITTED TO  THE  COMMISSIONER  AT  LEAST
 NINETY  DAYS PRIOR TO THE PROPOSED DATE OF SUCH QUALIFYING ENTERTAINMENT
 OR SPORTS EVENT.
   2. AS PART OF SUCH APPLICATION, EACH BUSINESS ENTITY MUST:
   (A) DEMONSTRATE THAT THE  QUALIFYING  SPORTS  OR  ENTERTAINMENT  EVENT
 MEETS THE CRITERIA OF SUCH DEFINITION.
   (B) DEMONSTRATE THE EXPECTED ECONOMIC BENEFIT TO THE HOST LOCATION.
   (C)  CERTIFY,  UNDER  PENALTY  OF  PERJURY,  THAT IT IS IN SUBSTANTIAL
 COMPLIANCE WITH ALL, WORKER PROTECTION, AND LOCAL,  STATE,  AND  FEDERAL
 TAX LAWS.
   3.  AFTER  REVIEWING A BUSINESS ENTERPRISE'S COMPLETED APPLICATION AND
 DETERMINING THAT THE BUSINESS ENTITY WILL MEET THE CONDITIONS SET  FORTH
 IN SECTION FIVE HUNDRED TWENTY-THREE OF THIS ARTICLE, THE DEPARTMENT MAY
 ADMIT  THE  APPLICANT  INTO  THE  FUND  AND PROVIDE THE APPLICANT WITH A
 CERTIFICATE OF ELIGIBILITY.
   4. IN ORDER TO BECOME A PARTICIPANT IN THE  FUND,  AN  APPLICANT  MUST
 SUBMIT  EVIDENCE THAT IT SATISFIES THE ELIGIBILITY CRITERIA SPECIFIED IN
 SECTION FIVE HUNDRED TWENTY-THREE OF THIS ARTICLE AND SUBDIVISION TWO OF
 THIS SECTION IN SUCH FORM  AS  THE  COMMISSIONER  MAY  PRESCRIBE.  AFTER
 REVIEWING  SUCH EVIDENCE AND FINDING IT SUFFICIENT, THE DEPARTMENT SHALL
 S. 9143                             3
 
 CERTIFY THE APPLICANT AS A PARTICIPANT AND ISSUE TO THAT  PARTICIPANT  A
 CERTIFICATE OF FUNDING FOR ONE TAXABLE YEAR.
   §  525.  POWERS  AND  DUTIES  OF THE COMMISSIONER. 1. THE COMMISSIONER
 SHALL PROMULGATE REGULATIONS ESTABLISHING  AN  APPLICATION  PROCESS  AND
 ELIGIBILITY  CRITERIA, THAT WILL BE APPLIED CONSISTENT WITH THE PURPOSES
 OF THIS ARTICLE. SUCH REGULATIONS SHALL INCLUDE, BUT NOT BE LIMITED  TO,
 CRITERIA  FOR  DETERMINING WHETHER A SPECIFIC EVENT IS EXCLUDED FROM THE
 DEFINITION OF QUALIFYING SPORTS OR  ENTERTAINMENT  EVENT.  ANY  BUSINESS
 ENTITY  EXCLUDED FROM THE DEFINITION MAY APPEAL THE DETERMINATION TO THE
 COMMISSIONER.
   2. THE COMMISSIONER SHALL SOLELY  DETERMINE  THE  ELIGIBILITY  OF  ANY
 APPLICANT  APPLYING  FOR  ENTRY  INTO  THE  PROGRAM AND SHALL REMOVE ANY
 PARTICIPANT FROM THE PROGRAM FOR FAILING TO MEET ANY OF THE REQUIREMENTS
 OF THIS ARTICLE.
   § 526. MAINTENANCE OF RECORDS. EACH PARTICIPANT SHALL KEEP  ALL  RELE-
 VANT  RECORDS  FOR  THE DURATION OF ITS PROGRAM PARTICIPATION PLUS THREE
 YEARS.
   § 2. This act shall take effect immediately.