Provides that the additional vendor's marketing allowance retained by any operator of a racetrack located in the county of Westchester shall not exceed 8 percent of the total revenue wagered at the vendor track after payout for prizes and the remainder of such additional vendor's marketing allowance, not to exceed 25 million dollars, shall be paid to the Yonkers city school district board of education in quarterly payments for the support and maintenance of certain educational programs.
STATE OF NEW YORK
________________________________________________________________________
3427
2023-2024 Regular Sessions
IN ASSEMBLY
February 3, 2023
___________
Introduced by M. of A. PRETLOW -- read once and referred to the Commit-
tee on Racing and Wagering
AN ACT to amend the tax law, in relation to the distribution of the
additional vendor's marketing allowance by any operator of a racetrack
located in the county of Westchester
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph (iii) of paragraph 1 of subdivision b of
2 section 1612 of the tax law is amended by adding a new clause (C) to
3 read as follows:
4 (C) The additional vendor's marketing allowance for any operator of a
5 racetrack located in the county of Westchester expended by such operator
6 for marketing shall not exceed eight percent of the total revenue
7 wagered at the vendor track after payout for prizes pursuant to this
8 chapter in any year and the remainder of such additional vendor's
9 marketing allowance for such operator calculated pursuant to this subdi-
10 vision, not to exceed twenty-five million dollars annually, shall be
11 paid by such operator to the Yonkers city school district board of
12 education in quarterly payments commencing July first, two thousand
13 twenty-four to support and maintain educational programs established
14 pursuant to the settlement agreement dated January thirty-first, two
15 thousand two in United States of America v. Yonkers Board of Education.
16 Notwithstanding any other provision of law, rule or regulation to the
17 contrary, such amount provided pursuant to this subdivision shall be in
18 addition to any annual maintenance of effort requirement imposed on the
19 state or city of Yonkers.
20 § 2. This act shall take effect July 1, 2024.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08181-01-3