A10433 Summary:
| BILL NO | A10433 |
| SAME AS | SAME AS S06357 |
| SPONSOR | Stern |
| COSPNSR | |
| MLTSPNSR | |
| Amd §502, RWB L | |
| Increases compensation and maximum compensation for the boards of directors of off-track betting corporations. | |
A10433 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 10433 IN ASSEMBLY March 6, 2026 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Racing and Wagering AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to setting compensation and maximum compensation for the boards of directors of off-track betting corporations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 10 of section 502 of the racing, pari-mutuel 2 wagering and breeding law, as added by chapter 462 of the laws of 2000, 3 is amended to read as follows: 4 10. a. The directors may receive a sum of [two hundred fifty] one 5 thousand dollars for each day or part thereof spent in attendance at 6 meetings held in accordance with subdivision eight of this section, but 7 not to exceed [twenty-five hundred] fifteen thousand dollars during any 8 one year. 9 b. The directors may receive a sum of [one] five hundred dollars for 10 each day or part thereof at meetings other than those defined in subdi- 11 vision eight of this section or otherwise in the work of the corpo- 12 ration; provided that such activities are approved by the board [as a13whole]. Such additional expenses shall not exceed [fifteen hundred] 14 five thousand dollars in any calendar year. 15 c. The [chairman] chair of the board elected in accordance with subdi- 16 vision one of this section shall receive additional compensation of 17 [one] five thousand dollars per year to cover those expenses and activ- 18 ities associated with such office. 19 d. In addition, the directors shall be reimbursed for their actual and 20 necessary expenses incurred in the performance of their official duties. 21 e. Any expenses incurred by a director in excess of those authorized 22 by paragraph d of this subdivision shall be the responsibility of the 23 appointing political subdivision, payable on vouchers certified or 24 approved by the chief fiscal officer of such political subdivision as is 25 provided by law. 26 § 2. This act shall take effect on the first of April next succeeding 27 the fiscal year in which this act shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09942-01-5