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Same as: A8211 Versions: S4588A, S4588

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S4588 Actions

S4588A - AMEND AND RECOMMIT TO RACING, GAMING AND WAGERING - Jan 12, 2010
S4588A - PRINT NUMBER 4588A - Jan 12, 2010
S4588 - REFERRED TO RACING, GAMING AND WAGERING - Jan 6, 2010
S4588 - REFERRED TO RACING, GAMING AND WAGERING - Apr 24, 2009

S4588 Memo

BILL NUMBER: S4588

TITLE OF BILL : An act to amend the racing, pari-mutuel wagering and breeding law and the tax law, in relation to allowing off-track betting corporations in the state to host video lottery terminals

PURPOSE/SUMMARY OF PROVISIONS : This bill would amend racing, pari-mutuel wagering and breeding law section 503 by adding a new subsection, subsection 10-a, to allow counties with no race track the ability to operate video lottery gaming at a facility. It would also amend tax law to add off-track betting facilities as an appropriate entity throughout section 1612.

EXISTING LAW : Existing law does not recognize Off-Track Betting Corporations as acceptable for Video Lottery Terminals.

JUSTIFICATION : Every other OTB region across the State is authorized to have VLT's at the horse racing tracks located within their boundaries. Suffolk County is unfairly penalized for not having a horse racing track. This would put Suffolk County on a level playing field with the rest of the State. FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS : See attached chart.

EFFECTIVE DATE : January 1, 2010.

S4588 Text

S T A T E O F N E W Y O R K
4588
2009-2010 Regular Sessions I N SENATE April 24, 2009
Introduced by Sen. FOLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming and Wager ing
AN ACT to amend the racing, pari-mutuel wagering and breeding law and the tax law, in relation to allowing off-track betting corporations in the state to host video lottery terminals THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM BLY, DO ENACT AS FOLLOWS:


Section 1.

Section 503 of the racing, pari-mutuel wagering and breed ing law is amended by adding a new subdivision 10-a to read as follows:
10-A. IN A REGION IN WHICH NO PARTICIPATING COUNTY CONTAINS EITHER A THOROUGHBRED OR STANDARDBRED RACE TRACK LICENSED TO OPERATE BY THE RACING AND WAGERING BOARD, TO OPERATE VIDEO LOTTERY GAMING AT A CORPO RATION'S FACILITY WHICH IS LICENSED PURSUANT TO SECTION ONE THOUSAND EIGHT OR ONE THOUSAND NINE OF THIS CHAPTER;

S 2. Subparagraph (ii) of paragraph 1 of subdivision b of section 1612 of the tax law, as amended by section 1 of part O-1 of chapter 57 of the laws of 2009, is amended to read as follows:
(ii) less a vendor's fee the amount of which is to be paid for serving as a lottery agent to the track operator of a vendor track[:]; AND LESS A VENDOR'S FEE TO BE PAID FOR SERVING AS A LOTTERY AGENT TO THE REGIONAL OFF-TRACK BETTING CORPORATION OPERATOR AT AN AUTHORIZED PARTICIPATING OFF-TRACK BETTING FACILITY LICENSED PURSUANT TO EITHER RACING, PARI-MU TUEL WAGERING AND BREEDING LAW SECTION ONE THOUSAND EIGHT OR SECTION ONE THOUSAND NINE. (A) having fewer than one thousand one hundred video gaming machines, at a rate of thirty-six percent for the first fifty million dollars annually, twenty-nine percent for the next hundred million dollars annu ally, and twenty-six percent thereafter of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10036-02-9
S. 4588 2 (B) having one thousand one hundred or more video gaming machines, at a rate of thirty-two percent of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter, except for such facility located in the county of Westchester, in which case the rate shall be thirty-four percent of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter, for a period of twenty-four months effective beginning April first, two thousand eight; provided, however, that in the event that the vendor track located in Westchester county completes a successful restructuring prior to March thirty-first, two thousand ten, the vendor fee will be reduced to thir ty-two percent ninety days following the completion of the successful restructuring. A successful restructuring is defined as a restructuring of the existing debt obligations of such vendor track located in West chester county that meets the following two conditions:
(i) it requires no more than twenty million dollars of additional equity invested in such track; and (ii) results in average net interest costs of less than nine percent. Notwithstanding the foregoing, the vendor fee at such track OR VENDOR OFF-TRACK BETTING FACILITY will become thirty-one percent effective April first, two thousand ten and remain at that level for a period equal to two times the period of time (measured in days) that the vendor fee was thirty-four percent or until March thirty-first, two thousand twelve, whichever is later. Notwithstanding the foregoing, not later than April first, two thousand twelve, the vendor fee shall become thir ty-two percent and remain at that level thereafter; and except for Aque duct racetrack, in which case the vendor fee shall be thirty-eight percent of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter; (C) notwithstanding clauses (A) and (B) of this subparagraph, when the vendor track OR VENDOR OFF-TRACK BETTING FACILITY is located in an area with a population of less than one million within the forty mile radius around such track, at a rate of forty percent for the first fifty million dollars annually, twenty-nine percent for the next hundred million dollars annually, and twenty-six percent thereafter of the total revenue wagered at the vendor track OR VENDOR OFF-TRACK BETTING FACILITY after payout for prizes pursuant to this chapter; (D) notwithstanding clauses (A), (B) and (C) of this subparagraph, when the vendor track OR VENDOR OFF-TRACK BETTING FACILITY is located within fifteen miles of a Native American class III gaming facility at a rate of forty-two percent of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter; (E) notwithstanding clauses (A), (B), (C) and (D) of this subpara graph, when a Native American class III gaming facility is established, after the effective date of this subparagraph, within fifteen miles of the vendor track OR VENDOR OFF-TRACK BETTING FACILITY, at a rate of forty-two percent of the total revenue wagered after payout for prizes pursuant to this chapter; (E-1) for purposes of this subdivision, the term "class III gaming" shall have the meaning defined in 25 U.S.C.

S 2703(8). (F) notwithstanding clauses (A), (B), (C), (D) and (E) of this subpar agraph, when a vendor track, is located in Sullivan county and within sixty miles from any gaming facility in a contiguous state such vendor fee shall, for a period of five years commencing April first, two thou sand eight, be at a rate of forty-two percent of the total revenue wagered at the vendor track after payout for prizes pursuant to this S. 4588 3 chapter, after which time such rate shall be as for all tracks in clause (C) of this subparagraph. (G) notwithstanding any other provisions of this section, when a relo cated vendor track at which a qualified capital investment has been made and no fewer than two thousand full-time, permanent employees have been newly hired, is located in Sullivan county and is within sixty miles from any gaming facility in a contiguous state, then for a period of forty years the division shall pay into the state treasury, to the cred it of the state lottery fund created by section ninety-two-c of the state finance law the greater of (i) twenty-five percent of total reven ue after payout for prizes for "video lottery games" or (ii) for the first eight years of operation thirty-eight million dollars, and begin ning in the ninth year of operation such amount shall increase annually by the lesser of the increase in the consumer price index or two percent plus the division shall retain an amount equal to all actual expenses related to operations, administration and procurement of the video lottery terminal operation at the relocated vendor track, provided, however, such amount retained by the division shall not exceed seven percent of total revenue after payout of prizes. In addition, in the event the division makes a payment pursuant to subclause (i) of this clause, the division shall pay to the credit of the state lottery fund created by section ninety-two-c of the state finance law 11.11 percent of the amount by which total revenue after payout for prizes exceeds two hundred fifteen million dollars, but in no event shall such payment exceed five million dollars. The balance shall be paid as a vendor's fee to the track operator of the relocated vendor track for serving as a lottery agent under this chapter. Provided, however, that in the case of a relocated vendor track with a qualified capital investment, if at any time after July first, two thou sand ten the vendor track experiences an employment shortfall, then the recapture amount shall apply, for only such period as the shortfall exists. For the purposes of this section "qualified capital investment" shall mean an investment of a minimum of one billion dollars as reflected by audited financial statements of which not less than three hundred million dollars shall be comprised of equity and/or mezzanine financing as an initial investment in a county where twelve percent of the popu lation is below the federal poverty level as measured by the most recent Bureau of Census Statistics prior to the qualified capital investment commencing that results in the construction, development or improvement of at least one eighteen hole golf course, and the construction and issuance of certificates of occupancy for hotels, lodging, convention centers, spas, dining, retail and entertainment venues, parking garages and other capital improvements at or adjacent to the licensed video gaming facility or licensed vendor track which promote or encourage increased attendance at such facilities. For the purposes of this section, "full-time, permanent employee" shall mean an employee who has worked at the vendor track or related and adjacent facilities for a minimum of thirty-five hours per week for not less than four consecutive weeks and who is entitled to receive the usual and customary fringe benefits extended to other employees with comparable rank and duties; or two part-time employees who have worked at the vendor track or related and adjacent facilities for a combined minimum of thirty-five hours per week for not less than four consecutive S. 4588 4 weeks and who are entitled to receive the usual and customary fringe benefits extended to other employees with comparable rank and duties. For the purpose of this section "employment goal" shall mean two thou sand full-time permanent employees. For the purpose of this section "employment shortfall" shall mean a level of employment that falls below the employment goal, as certified annually by vendor's certified accountants and the chairman of the empire state development corporation. For the purposes of this section "recapture amount" shall mean the difference between the amount of the vendor's fee paid to a vendor track with a qualified capital investment, and the vendor fee otherwise paya ble to a vendor track pursuant to clause (F) of this subparagraph, that is reimbursable by the vendor track to the division for payment into the state treasury, to the credit of the state lottery fund created by section ninety-two-c of the state finance law, due to an employment shortfall pursuant to the following schedule only for the period of the employment shortfall:
(i) sixty-six percent of the recapture amount if the employment short fall is greater than fifty percent of the employment goal; (ii) sixty percent of the recapture amount if the employment shortfall is greater than forty percent of the employment goal; (iii) forty-five percent of the recapture amount if the employment shortfall is greater than thirty percent of the employment goal; (iv) twenty percent of the recapture amount if the employment short fall is greater than twenty percent of the employment goal; (v) ten percent of the recapture amount if the employment shortfall is greater than ten percent of the employment goal. (H) notwithstanding clauses (A), (B), (C), (D), (E), (F) and (G) of this subparagraph, the track operator of a vendor track OR OFF-TRACK BETTING OPERATOR OF A VENDOR OFF-TRACK BETTING CORPORATION shall be eligible for a vendor's capital award of up to four percent of the total revenue wagered at the vendor track OR VENDOR OFF-TRACK BETTING FACILITY after payout for prizes pursuant to this chapter, which shall be used exclusively for capital project investments to improve the facilities of the vendor track OR VENDOR OFF-TRACK BETTING FACILITY which promote or encourage increased attendance at the video lottery gaming facility including, but not limited to hotels, other lodging facilities, enter tainment facilities, retail facilities, dining facilities, events arenas, parking garages and other improvements that enhance facility amenities; provided that such capital investments shall be approved by the division, in consultation with the state racing and wagering board, and that such vendor track OR VENDOR OFF-TRACK BETTING FACILITY demon strates that such capital expenditures will increase patronage at such vendor track's OR VENDOR OFF-TRACK BETTING facilities and increase the amount of revenue generated to support state education programs. The annual amount of such vendor's capital awards that a vendor track shall be eligible to receive shall be limited to two million five hundred thousand dollars, except for Aqueduct racetrack, for which there shall be no vendor's capital awards. Except for tracks OR OFF-TRACK BETTING FACILITIES having less than one thousand one hundred video gaming machines, each track operator OR OFF-TRACK BETTING FACILITY OPERATOR shall be required to co-invest an amount of capital expenditure equal to its cumulative vendor's capital award. For all tracks OR OFF-TRACK BETTING FACILITIES, except for Aqueduct racetrack, the amount of any vendor's capital award that is not used during any one year period may be carried over into subsequent years ending before April first, two S. 4588 5 thousand thirteen. Any amount attributable to a capital expenditure approved prior to April first, two thousand thirteen and completed before April first, two thousand fifteen shall be eligible to receive the vendor's capital award. In the event that a vendor track's capital expenditures, approved by the division prior to April first, two thou sand thirteen and completed prior to April first, two thousand fifteen, exceed the vendor track's cumulative capital award during the five year period ending April first, two thousand thirteen, the vendor shall continue to receive the capital award after April first, two thousand thirteen until such approved capital expenditures are paid to the vendor track subject to any required co-investment. In no event shall any vendor track OR VENDOR OFF-TRACK BETTING FACILITY that receives a vendor fee pursuant to clause (F) or (G) of this subparagraph be eligible for a vendor's capital award under this section. Any operator of a vendor track OR VENDOR OFF-TRACK BETTING FACILITY which has received a vendor's capital award, choosing to divest the capital improvement toward which the award was applied, prior to the full depreciation of the capital improvement in accordance with generally accepted accounting principles, shall reimburse the state in amounts equal to the total of any such awards. Any capital award not approved for a capital expenditure at a video lottery gaming facility by April first, two thousand thirteen shall be deposited into the state lottery fund for education aid; and

S 3. Subparagraph (iii) of paragraph 1 and the opening paragraph of paragraph 2 of subdivision b of section 1612 of the tax law, as amended by section 1 of part O-1 of chapter 57 of the laws of 2009, are amended to read as follows:
(iii) less an additional vendor's marketing allowance at a rate of ten percent for the first one hundred million dollars annually and eight percent thereafter of the total revenue wagered at the vendor track OR VENDOR OFF-TRACK BETTING FACILITY after payout for prizes to be used by the vendor track OR VENDOR OFF-TRACK BETTING FACILITY for the marketing and promotion and associated costs of its video lottery gaming oper ations and pari-mutuel horse racing operations, as long as any such costs associated with pari-mutuel horse racing operations simultaneously encourage increased attendance at such vendor's video lottery gaming facilities, consistent with the customary manner of marketing comparable operations in the industry and subject to the overall supervision of the division; provided, however, that the additional vendor's marketing allowance shall not exceed eight percent in any year for any operator of a racetrack located in the county of Westchester or Queens; provided, however, a vendor track OR VENDOR OFF-TRACK BETTING FACILITY that receives a vendor fee pursuant to clause (G) of subparagraph (ii) of this paragraph shall not receive the additional vendor's marketing allowance. In establishing the vendor fee, the division shall ensure the maximum lottery support for education while also ensuring the effective implementation of section sixteen hundred seventeen-a of this article through the provision of reasonable reimbursements and compensation to vendor tracks OR VENDOR OFF-TRACK BETTING FACILITIES for participation in such program. Within twenty days after any award of lottery prizes, the division shall pay into the state treasury, to the credit of the state lottery fund, the balance of all moneys received from the sale of all tickets for the lottery in which such prizes were awarded remaining after provision for the payment of prizes as herein provided. Any reven ues derived from the sale of advertising on lottery tickets shall be deposited in the state lottery fund. S. 4588 6 As consideration for the operation of a video lottery gaming facility, the division, shall cause the investment in the racing industry of a portion of the vendor fee received pursuant to paragraph one of this subdivision in the manner set forth in this subdivision. With the exception of ANY VENDOR OFF-TRACK BETTING FACILITY AND Aqueduct race track, each such track shall dedicate a portion of its vendor fees, received pursuant to clause (A), (B), (C), (D), (E), (F), or (G) of subparagraph (ii) of paragraph one of this subdivision, solely for the purpose of enhancing purses at such track, in an amount equal to eight and three-quarters percent of the total revenue wagered at the vendor track after pay out for prizes. In addition, with the exception of Aque duct racetrack, one and one-quarter percent of total revenue wagered at the vendor track after pay out for prizes, received pursuant to clause (A), (B), (C), (D), (E), (F), or (G) of subparagraph (ii) of paragraph one of this subdivision, shall be distributed to the appropriate breed ing fund for the manner of racing conducted by such track.

S 4. Subdivision a of section 1617-a of the tax law, as amended by section 2 of part O-1 of chapter 57 of the laws of 2009, is amended to read as follows:
a. The division of the lottery is hereby authorized to license, pursu ant to rules and regulations to be promulgated by the division of the lottery, the operation of video lottery gaming at (1) Aqueduct, Monti cello, Yonkers, Finger Lakes, and Vernon Downs racetracks, or at any other racetrack licensed pursuant to article three of the racing, pari mutuel wagering and breeding law that are located in a county or coun ties in which video lottery gaming has been authorized pursuant to local law, excluding the licensed racetrack commonly referred to in article three of the racing, pari-mutuel wagering and breeding law as the "New York state exposition" held in Onondaga county and the racetracks of the non-profit racing association known as Belmont Park racetrack and the Saratoga thoroughbred racetrack; AND (2) AT ONE REGIONAL OFF-TRACK BETTING CORPORATION FACILITY LICENSED PURSUANT TO SECTION ONE THOUSAND EIGHT OR ONE THOUSAND NINE OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW WITHIN ANY REGION IN WHICH NO PARTICIPATING COUNTY CONTAINS EITHER A THOROUGHBRED OR STANDARDBRED RACETRACK LICENSED TO OPERATE BY THE RACING AND WAGERING BOARD. Such rules and regulations shall provide, as a condition of licensure, that racetracks OR REGIONAL OFF-TRACK BETTING CORPORATIONS, AS CREATED BY SECTION FIVE HUNDRED TWO OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW, to be licensed are certified to be in compliance with all state and local fire and safety codes, that the division is afforded adequate space, infrastructure, and amenities consistent with industry standards for such video gaming oper ations as found at racetracks in other states, that racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION employees involved in the opera tion of video lottery gaming pursuant to this section are licensed by the racing and wagering board, and such other terms and conditions of licensure as the division may establish. Notwithstanding any inconsist ent provision of law, video lottery gaming at a racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION pursuant to this section shall be deemed an approved activity for such racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION under the relevant city, county, town, or village land use or zoning ordinances, rules, or regulations. No entity licensed by the division operating video lottery gaming pursuant to this section may house such gaming activity in a structure deemed or approved by the division as "temporary" for a duration of longer than eighteen-months. Nothing in this section shall prohibit the division from licensing an S. 4588 7 entity to operate video lottery gaming at an existing racetrack as authorized in this subdivision whether or not a different entity is licensed to conduct horse racing and pari-mutuel wagering at such race track pursuant to article two or three of the racing, pari-mutuel wager ing and breeding law. The division, in consultation with the racing and wagering board, shall establish standards for approval of the temporary and permanent physical layout and construction of any facility or building devoted to a video lottery gaming operation. In reviewing such application for the construction or reconstruction of facilities related or devoted to the operation or housing of video lottery gaming operations, the division, in consultation with the racing and wagering board, shall ensure that such facility:
(1) possesses superior consumer amenities and conveniences to encour age and attract the patronage of tourists and other visitors from across the region, state, and nation. (2) has adequate motor vehicle parking facilities to satisfy patron requirements. (3) has a physical layout and location that facilitates access to and from the horse racing track portion of such facility to encourage patro nage of live horse racing events that are conducted at such track.

S 5. Subdivision a of section 1617-a of the tax law, as separately amended by chapter 286 of the laws of 2008 and section 2 of part O-1 of chapter 57 of the laws of 2009, is amended to read as follows:
a. The division of the lottery is hereby authorized to license, pursu ant to rules and regulations to be promulgated by the division of the lottery, the operation of video lottery gaming at [a vendor track pursu ant to clause (G) of subparagraph (ii) of paragraph one of subdivision b of section sixteen hundred twelve of this article.] (1) AQUEDUCT, MONTI CELLO, YONKERS, FINGER LAKES, AND VERNON DOWNS RACETRACKS, OR AT ANY OTHER RACETRACK LICENSED PURSUANT TO ARTICLE THREE OF THE RACING, PARI MUTUEL WAGERING AND BREEDING LAW THAT ARE LOCATED IN A COUNTY OR COUN TIES IN WHICH VIDEO LOTTERY GAMING HAS BEEN AUTHORIZED PURSUANT TO LOCAL LAW, EXCLUDING THE LICENSED RACETRACK COMMONLY REFERRED TO IN ARTICLE THREE OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW AS THE "NEW YORK STATE EXPOSITION" HELD IN ONONDAGA COUNTY AND THE RACETRACKS OF THE NON-PROFIT RACING ASSOCIATION KNOWN AS BELMONT PARK RACETRACK AND THE SARATOGA THOROUGHBRED RACETRACK; AND (2) AT ONE REGIONAL OFF-TRACK BETTING CORPORATION FACILITY LICENSED PURSUANT TO SECTION ONE THOUSAND EIGHT OR ONE THOUSAND NINE OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW WITHIN ANY REGION IN WHICH NO PARTICIPATING COUNTY CONTAINS EITHER A THOROUGHBRED OR STANDARDBRED RACETRACK LICENSED TO OPERATE BY THE RACING AND WAGERING BOARD. Such rules and regulations shall provide, as a condition of licensure, that such [racetrack] RACETRACKS OR REGIONAL OFF-TRACK BETTING CORPORATIONS, AS CREATED BY SECTION FIVE HUNDRED TWO OF THE RACING, PARI-MUTUEL WAGERING AND BREEDING LAW, TO BE LICENSED ARE certified to be in compliance with all state and local fire and safety codes, that the division is afforded adequate space, infras tructure, and amenities consistent with industry standards for such video gaming operations as found at racetracks in other states, that racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION employees involved in the operation of video lottery gaming pursuant to this section are licensed by the racing and wagering board, and such other terms and conditions of licensure as the division may establish. Notwithstanding any inconsistent provision of law, video lottery gaming at a racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION pursuant to this section shall S. 4588 8 be deemed an approved activity for such racetrack OR REGIONAL OFF-TRACK BETTING CORPORATION under the relevant city, county, town, or village land use or zoning ordinances, rules, or regulations. No entity licensed by the division operating video lottery gaming pursuant to this section may house such gaming activity in a structure deemed or approved by the division as "temporary" for a duration of longer than eighteen months. Nothing in this section shall prohibit the division from licens ing an entity to operate video lottery gaming at an existing racetrack as authorized in this subdivision whether or not a different entity is licensed to conduct horse racing and pari-mutuel wagering at such race track pursuant to article two or three of the racing, pari-mutuel wager ing and breeding law. The division, in consultation with the racing and wagering board, shall establish standards for approval of the temporary and permanent physical layout and construction of any facility or building devoted to a video lottery gaming operation. In reviewing such application for the construction or reconstruction of facilities related or devoted to the operation or housing of video lottery gaming operations, the division, in consultation with the racing and wagering board, shall ensure that such facility:
(1) possesses superior consumer amenities and conveniences to encour age and attract the patronage of tourists and other visitors from across the region, state, and nation. (2) has adequate motor vehicle parking facilities to satisfy patron requirements. (3) has a physical layout and location that facilitates access to and from the horse racing track portion of such facility to encourage patro nage of live horse racing events that are conducted at such track. The division shall not approve the construction or alteration of any facility or building devoted to the operation or housing of video lottery gaming until the person or entity selected to operate such video lottery gaming shall have submitted to the division a statement of the location of the proposed facility or building, together with a plan of such racetrack, and plans of all existing buildings, seating stands and other structures on the grounds of such racetrack, in such form as the division may prescribe, and such plans shall have been approved by the division. The division, at the expense of the applicant, may order such engineering examination thereof as the division may deem necessary. Such construction or alteration may be made only with the approval of the division and after examination and inspection of the plans thereof and the issuance of a permit therefor by the division.

S 6. This act shall take effect January 1, 2010, provided, however, that the amendments to subdivision a of section 1617-a of the tax law made by section four of this act shall not affect the repeal of such section and shall be deemed repealed therewith; provided however, the amendments to subdivision a of section 1617-a of the tax law made by section five of this act shall take effect on the same date and in the same manner as chapter 286 of the laws of 2008 takes effect; and provided further that the amendments to subdivision a of section 1617-a of the tax law made by section five of this act shall be subject to the repeal of such subdivision pursuant to section 4 of part C of chapter 383 of the laws of 2001, as amended by chapter 286 of the laws of 2008.

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