New York Assembly Bill A04803 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 4803 2023-2024 Regular Sessions  IN ASSEMBLY February 23, 2023 ___________ 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 payments in support of racing The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (b) of subdivision 2 of section 1355 of the 2 racing, pari-mutuel wagering and breeding law, as added by section 1 of 3 part LL of chapter 59 of the laws of 2021, is amended to read as 4 follows: 5 (b) Beginning on March sixteenth, two thousand twenty and for all time 6 thereafter, the licensee shall pay an amount to horsemen for purses at 7 the licensed racetracks in the region and in the case of region five any 8 licensed racetracks within seventy-five miles of the licensee's facili- 9 ty, and an amount to the agricultural and New York state horse breeding 10 development fund and the New York state thoroughbred breeding and devel- 11 opment fund that, in aggregate, shall be equal to the product of three 12 and eight-tenths percent multiplied by the gross gaming revenue from 13 slot machines of the licensee for the applicable calendar year, provided 14 that such amount shall not exceed the amount paid by the licensee to 15 such horsemen and breeders funds for the full two thousand nineteen 16 calendar year adjusted annually by the lesser of (i) consumer price 17 index for all urban consumers, as published annually by the United 18 States department of labor bureau of labor statistics or (ii) two and 19 four-tenths percent. Of the amount paid pursuant to this paragraph, 20 eighty-seven percent will be paid to the horsemen and the remainder will 21 be paid to the agricultural and New York state horse breeding develop- 22 ment fund and the New York state thoroughbred breeding and development 23 fund. 24 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09418-01-3