S T A T E O F N E W Y O R K
________________________________________________________________________
6022
2011-2012 Regular Sessions
I N A S S E M B L Y
March 3, 2011
___________
Introduced by M. of A. RA -- read once and referred to the Committee on
Racing and Wagering
AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
relation to disposition of unclaimed winnings and refunds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 241 of the racing, pari-mutuel wagering and breed-
2 ing law, as amended by chapter 18 of the laws of 2008, is amended to
3 read as follows:
4 S 241. Disposition of unpaid money due on account of pari-mutuel tick-
5 ets not presented. The sum held by any corporation authorized to conduct
6 pari-mutuel betting for payment of outstanding winning pari-mutuel tick-
7 ets and for refunding the price of pari-mutuel tickets shall be retained
8 by such corporation for such purposes until April first of the succeed-
9 ing year[; provided, however, that ninety-five per centum of such sum
10 remaining unclaimed as of the last day of February of such year shall be
11 paid to the department of taxation and finance by March fifteenth. On
12 April tenth, the balance of such sum remaining unclaimed and any other
13 unclaimed amount received in the course of conducting pari-mutuel
14 betting shall be paid to the department of taxation and finance. A
15 penalty of five per centum and interest at the rate of one per centum
16 per month from the due date to the date of payment of the unclaimed
17 balance due March fifteenth or April tenth, as the case may be, shall be
18 payable in case such balance is not paid when due. Such amounts, inter-
19 est and penalties when collected shall be paid by the department of
20 taxation and finance into the general fund of the state treasury] AT
21 WHICH TIME SAID SUM SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH
22 CORPORATION PURSUANT TO SUBDIVISION TWO OF SECTION TWO HUNDRED
23 THIRTY-SIX OR PARAGRAPH (B) OF SUBDIVISION ONE OF SECTION TWO HUNDRED
24 THIRTY-EIGHT OF THIS ARTICLE.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09576-01-1
A. 6022 2
1 S 2. Section 328 of the racing, pari-mutuel wagering and breeding law
2 is amended to read as follows:
3 S 328. Disposition of unpaid money due on account of pari-mutuel tick-
4 ets not presented. The sum held by any corporation or association
5 authorized to conduct pari-mutuel betting for payment of outstanding
6 winning pari-mutuel tickets and for refunding the price of pari-mutuel
7 tickets shall be retained by such corporation or association for such
8 purposes until April first of the succeeding year[; provided, however,
9 that ninety-five per centum of such sum remaining unclaimed as of the
10 last day of February of such year shall be paid to the state tax commis-
11 sion by March fifteenth. On April tenth, the balance of such sum remain-
12 ing unclaimed and any other unclaimed amount received in the course of
13 conducting pari-mutuel betting shall be paid to the state tax commis-
14 sion. A penalty of five per centum and interest at the rate of one per
15 centum per month from the due date to the date of payment of the
16 unclaimed balance due March fifteenth or April tenth, as the case may
17 be, shall be payable in case such balance is not paid when due. Such
18 amounts, interest and penalties when collected shall be paid by the
19 state tax commission into the general fund of the state treasury] AT
20 WHICH TIME SAID SUM SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH
21 CORPORATION PURSUANT TO SUBPARAGRAPH (III) OF PARAGRAPH A OF SUBDIVISION
22 ONE OF SECTION THREE HUNDRED EIGHTEEN OF THIS ARTICLE.
23 S 3. Subdivision 2 of section 529 of the racing, pari-mutuel wagering
24 and breeding law is amended to read as follows:
25 2. [Ninety-five percent of the balance of such account remaining
26 unclaimed as of the last day of February of such year shall be paid to
27 the state tax commission by March fifteenth. On or before April tenth of
28 each year the balance of such account and any other unclaimed amounts
29 received in the course of conducting off-track betting shall be paid by
30 such corporation to the state tax commission. A penalty of five percent
31 and interest at the rate of one percent per month from the due date to
32 the date of payment of the unclaimed balance due March fifteenth or
33 April tenth, as the case may be, shall be payable in case such balance
34 is not paid when due. Such amounts, interest and penalties when
35 collected by the state tax commission shall be deposited into the gener-
36 al fund of the state treasury] AFTER APRIL FIRST ANY SUM REMAINING IN
37 THE ACCOUNT SHALL BE APPLIED TO THE USE AND PURPOSE OF SUCH REGIONAL
38 CORPORATION.
39 S 4. This act shall take effect immediately.