Amd §§529 & 1016, rpld §1016 sub 1 ¶b sub¶ 5 clause (E), sub 1 ¶b sub¶ 6 clause (F), §1017 sub 2, RWB L
Relates to the transferring of monies held in the non-escrowed account for payment of outstanding winning tickets and for payment of refunds to ticket holders; any amount that remains unclaimed after April first of each year shall be transferred to the regional corporation's operating account.
STATE OF NEW YORK
________________________________________________________________________
6352
2019-2020 Regular Sessions
IN ASSEMBLY
March 6, 2019
___________
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 transferring of monies held in the non-escrowed
account for payment of outstanding winning tickets and for payment of
refunds to ticket holders; and to repeal certain provisions of the
racing, pari-mutuel wagering and breeding law relating thereto
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 529 of the racing, pari-mutuel
2 wagering and breeding law is amended to read as follows:
3 2. [Ninety-five percent of the balance of such account remaining
4 unclaimed as of the last day of February of such year shall be paid to
5 the state tax commission by March fifteenth. On or before April tenth of
6 each year the balance of such account and any other unclaimed amounts
7 received in the course of conducting off-track betting shall be paid by
8 such corporation to the state tax commission. A penalty of five percent
9 and interest at the rate of one percent per month from the due date to
10 the date of payment of the unclaimed balance due March fifteenth or
11 April tenth, as the case may be, shall be payable in case such balance
12 is not paid when due. Such amounts, interest and penalties when
13 collected by the state tax commission shall be deposited into the gener-
14 al fund of the state treasury.] The balance of such account remaining
15 unclaimed as of April first of such year shall be transferred to the
16 regional corporation's operating account and may be used for any corpo-
17 rate purposes.
18 § 2. Clause (E) of subparagraph 5 of paragraph b of subdivision 1 of
19 section 1016 of the racing, pari-mutuel wagering and breeding law is
20 REPEALED and clause (F) is relettered clause (E).
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09721-01-9
A. 6352 2
1 § 3. Clause (F) of subparagraph 6 of paragraph b of subdivision 1 of
2 section 1016 of the racing, pari-mutuel wagering and breeding law is
3 REPEALED and clause (G) is relettered clause (F).
4 § 4. Subdivision 2 of section 1017 of the racing, pari-mutuel wagering
5 and breeding law is REPEALED.
6 § 5. This act shall take effect on the thirtieth day after it shall
7 have become a law.
