S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

           S. 3925                                                  A. 6227

                              2011-2012 Regular Sessions

                             S E N A T E - A S S E M B L Y

                                    March 10, 2011
                                      ___________

       IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Local Govern-
         ment

       IN ASSEMBLY -- Introduced by M. of A. FRIEND -- read once  and  referred
         to the Committee on Local Governments

       AN  ACT  to amend the general municipal law, in relation to the Schuyler
         county industrial development agency's financing of automobile  racing
         facilities

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Section 854 of the general  municipal  law  is  amended  by
    2  adding a new subdivision 20 to read as follows:
    3    (20) "AUTOMOBILE RACING FACILITY" SHALL MEAN ANY CLOSED-COURSE MOTORS-
    4  PORTS  COMPLEX  AND  ITS  ANCILLARY GROUNDS THAT HOLDS AUTOMOBILE RACING
    5  EXHIBITIONS.
    6    S 2. The opening paragraph of section 892-a of the  general  municipal
    7  law is designated subdivision 1 and a new subdivision 2 is added to read
    8  as follows:
    9    2.  IN ADDITION TO THE POWERS AND DUTIES NOW OR HEREAFTER CONFERRED BY
   10  TITLE ONE OF ARTICLE EIGHTEEN-A OF THIS CHAPTER, THE AGENCY  SHALL  HAVE
   11  THE POWER (I) TO ACQUIRE, CONSTRUCT, OWN, MAINTAIN, AND LEASE OR SELL TO
   12  AN AUTOMOBILE RACING FACILITY OR PRIVATE BUSINESS CORPORATION ANY INTER-
   13  EST  IN AN AUTOMOBILE RACING FACILITY OPERATED WHOLLY OR WITHIN SCHUYLER
   14  COUNTY, TOGETHER WITH ALL BUILDINGS, STRUCTURES,  MACHINERY,  EQUIPMENT,
   15  FACILITIES  AND  APPURTENANCES  THERETO WHICH THE AGENCY MAY DEEM NECES-
   16  SARY, USEFUL OR DESIRABLE IN CONNECTION WITH THE CONSTRUCTION,  IMPROVE-
   17  MENT  OR  OPERATION  OF  ANY SUCH FACILITY, INCLUDING OVERNIGHT ACCOMMO-
   18  DATIONS AND OTHER FACILITIES INCIDENTAL THERETO AND,
   19    (II) TO FINANCE SUCH FACILITIES THROUGH THE ISSUANCE OF ITS BONDS  AND
   20  NOTES, WHEN IN THE JUDGMENT OF THE AGENCY, SUCH FACILITIES WILL SERVE TO

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09716-01-1

 S. 3925                             2                            A. 6227

    1  PROMOTE,  DEVELOP,  ENCOURAGE AND ASSIST IN THE ACQUIRING, CONSTRUCTING,
    2  RECONSTRUCTING, IMPROVING, MAINTAINING, EQUIPPING OF SUCH FACILITIES AND
    3  ENCOURAGE TOURISM  AND  THEREBY  ADVANCING  JOB  OPPORTUNITIES,  HEALTH,
    4  GENERAL  PROSPERITY  AND ECONOMIC WELFARE OF THE PEOPLE OF THE STATE AND
    5  IMPROVE THEIR PROSPERITY AND STANDARD OF LIVING.
    6    S 3. This act shall take effect immediately.