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S07918 Summary:

S07918 Actions:

S07918 Committee Votes:

S07918 Floor Votes:

S07918 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7918--A
 
                    IN SENATE
 
                                      May 25, 2016
                                       ___________
 
        Introduced  by Sens. BONACIC, MARCHIONE -- read twice and ordered print-
          ed, and when printed to be  committed  to  the  Committee  on  Racing,
          Gaming  and  Wagering  --  committee discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee
 
        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation  to  the  New  York racing association, and to repeal certain
          provisions of such 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  1  of section 207 of the racing, pari-mutuel
     2  wagering and breeding law is REPEALED and a new subdivision 1  is  added
     3  to read as follows:
     4    1. a. The board of directors, to be called the New York racing associ-
     5  ation  board,  shall  consist of fifteen members, eight of whom shall be
     6  elected by the executive committee of the New  York  racing  association
     7  reorganization board of which at least one shall be a full time resident
     8  of  each of Nassau, Queens and Saratoga counties, one shall be the chief
     9  executive officer of the New  York  racing  association,  two  shall  be
    10  appointed by the governor, one shall be appointed by the temporary pres-
    11  ident of the senate, one shall be appointed by the speaker of the assem-
    12  bly,  one shall be appointed by the New  York Thoroughbred Breeders Inc.
    13  provided that a current board member of the New York racing  association
    14  shall  serve  on  the  board  of  directors of the New York Thoroughbred
    15  Breeders Inc., and one shall be appointed by the New  York  thoroughbred
    16  horsemen's  association  (or  such  other  entity  as  is  certified and
    17  approved pursuant to section two hundred twenty-eight of  this  article)
    18  provided  that a current board member of the New York racing association
    19  shall serve on the board of  directors  of  the  New  York  thoroughbred
    20  horsemen's  association  (or  such  other  entity  as  is  certified and
    21  approved pursuant to section two hundred twenty-eight of this article).
    22    (i) The governor shall nominate a member to serve as the first  chair,
    23  subject  to confirmation by majority vote of the board of directors. All
    24  members shall have equal voting rights.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15607-03-6
        S. 7918--A                          2
 
     1    (ii) In the event of a member vacancy occurring by death,  resignation
     2  or  otherwise,  the  respective  appointing  officer  or  officers shall
     3  appoint a successor who shall hold office for the unexpired  portion  of
     4  the term. A vacancy from the members appointed from the present board of
     5  the New York racing association reorganization board, shall be filled by
     6  the remaining such members.
     7    (iii) Each board member, other than the chief executive officer of the
     8  New York racing association, shall serve a term of three years. However,
     9  the  first terms of five of the members elected by the executive commit-
    10  tee of the New York racing association reorganization board shall expire
    11  December thirty-first, two thousand seventeen; the first  terms  of  the
    12  remaining  three  members  elected by the executive committee of the New
    13  York racing association reorganization board, the  member  appointed  by
    14  the New York Thoroughbred Breeders Inc., and the member appointed by the
    15  New York thoroughbred horsemen's association shall expire December thir-
    16  ty-first,  two  thousand  eighteen;  and  the first terms of the members
    17  appointed by the governor, temporary president of the senate and speaker
    18  of the assembly shall expire December thirty-first, two  thousand  nine-
    19  teen.
    20    b. The franchised corporation shall establish a compensation committee
    21  to fix salary guidelines, such guidelines to be consistent with an oper-
    22  ation  of other first class thoroughbred racing operations in the United
    23  States; an equine safety committee, to review industry best practices to
    24  improve the safety of horses racing at each of the three  racetracks;  a
    25  finance  committee,  to  review annual operating and capital budgets for
    26  each of the three racetracks; a nominating committee,  to  nominate  any
    27  new  directors to be designated by the franchised corporation to replace
    28  its existing directors; a racing  committee,  to  review  industry  best
    29  practices  to improve the quality of racing at the three racetracks; and
    30  an executive committee. Each of the  compensation,  finance,  nominating
    31  and  executive  committees  shall  include at least one of the directors
    32  appointed by the governor, and the executive committee shall include the
    33  director appointed by the temporary president  of  the  senate  and  the
    34  director appointed by the speaker of the assembly.
    35    c.  Upon  the  effective  date of this paragraph, the structure of the
    36  board of the franchised corporation shall be deemed to  be  incorporated
    37  within  and  made  part of the certificate of incorporation of the fran-
    38  chised corporation, and no amendment to  such  certificate  of  incorpo-
    39  ration  shall be necessary to give effect to any such provision, and any
    40  provision contained within such certificate inconsistent in  any  manner
    41  shall be superseded by the provisions of this section. Such board shall,
    42  however,  make appropriate conforming changes to all governing documents
    43  of the franchised corporation including but  not  limited  to  corporate
    44  by-laws. Following such conforming changes, amendments to the by-laws of
    45  the  franchised  corporation shall only be made by unanimous vote of the
    46  board.
    47    § 2. This act shall take effect October 18, 2016.