STATE OF NEW YORK
________________________________________________________________________
9778
IN ASSEMBLY
April 2, 2012
___________
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 New York state thoroughbred breeding and development
fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The second undesignated paragraph and the closing paragraph
2 of subdivision 2 of section 254 of the racing, pari-mutuel wagering and
3 breeding law, as amended by chapter 18 of the laws of 2008, is amended
4 to read as follows:
5 [All moneys of the fund in excess of seventy-five thousand dollars on
6 hand at the end of each calendar year shall be apportioned between and
7 paid to the state and the regional off-track betting corporations based
8 on the level of contributions to such fund during the year by the racing
9 corporations and the regional off-track betting corporations, respec-
10 tively. Payment of such money to the state and such corporations,
11 respectively, shall be made by March fifteenth of the year following the
12 close of such calendar year.
13 That portion returned to the regional off-track betting corporations
14 shall be distributed prior to May first of such year to the participat-
15 ing local governments within each region in the same proportion as the
16 net earnings of such corporation for the prior calendar year were
17 distributed.]
18 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15195-01-2
