S T A T E   O F   N E W   Y O R K
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                                  3984

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 30, 2013
                               ___________

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:

  Section 1. Section 241 of the racing, pari-mutuel wagering and  breed-
ing  law,  as  amended  by chapter 18 of the laws of 2008, is amended to
read as follows:
  S 241. Disposition of unpaid money due on account of pari-mutuel tick-
ets not presented. The sum held by any corporation authorized to conduct
pari-mutuel betting for payment of outstanding winning pari-mutuel tick-
ets and for refunding the price of pari-mutuel tickets shall be retained
by such corporation for such purposes until April first of the  succeed-
ing  year[;  provided,  however, that ninety-five per centum of such sum
remaining unclaimed as of the last day of February of such year shall be
paid to the department of taxation and finance by  March  fifteenth.  On
April  tenth,  the balance of such sum remaining unclaimed and any other
unclaimed amount  received  in  the  course  of  conducting  pari-mutuel
betting  shall  be  paid  to  the  department of taxation and finance. A
penalty of five per centum and interest at the rate of  one  per  centum
per  month  from  the  due  date to the date of payment of the unclaimed
balance due March fifteenth or April tenth, as the case may be, shall be
payable in case such balance is not paid when due. Such amounts,  inter-
est  and  penalties  when  collected  shall be paid by the department of
taxation and finance into the general fund of  the  state  treasury]  AT
WHICH  TIME  SAID  SUM  SHALL  BE APPLIED TO THE USE AND PURPOSE OF SUCH
CORPORATION  PURSUANT  TO  SUBDIVISION  TWO  OF  SECTION   TWO   HUNDRED
THIRTY-SIX  OR  PARAGRAPH  (B) OF SUBDIVISION ONE OF SECTION TWO HUNDRED
THIRTY-EIGHT OF THIS ARTICLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05920-01-3

              

A. 3984                             2

  S 2. Section 328 of the racing, pari-mutuel wagering and breeding  law
is amended to read as follows:
  S 328. Disposition of unpaid money due on account of pari-mutuel tick-
ets  not  presented.    The  sum  held by any corporation or association
authorized to conduct pari-mutuel betting  for  payment  of  outstanding
winning  pari-mutuel  tickets and for refunding the price of pari-mutuel
tickets shall be retained by such corporation or  association  for  such
purposes  until  April first of the succeeding year[; provided, however,
that ninety-five per centum of such sum remaining unclaimed  as  of  the
last day of February of such year shall be paid to the state tax commis-
sion by March fifteenth. On April tenth, the balance of such sum remain-
ing  unclaimed  and any other unclaimed amount received in the course of
conducting pari-mutuel betting shall be paid to the  state  tax  commis-
sion.  A  penalty of five per centum and interest at the rate of one per
centum per month from the due  date  to  the  date  of  payment  of  the
unclaimed  balance  due  March fifteenth or April tenth, as the case may
be, shall be payable in case such balance is not  paid  when  due.  Such
amounts,  interest  and  penalties  when  collected shall be paid by the
state tax commission into the general fund of  the  state  treasury]  AT
WHICH  TIME  SAID  SUM  SHALL  BE APPLIED TO THE USE AND PURPOSE OF SUCH
CORPORATION PURSUANT TO SUBPARAGRAPH (III) OF PARAGRAPH A OF SUBDIVISION
ONE OF SECTION THREE HUNDRED EIGHTEEN OF THIS ARTICLE.
  S 3. Subdivision 2 of section 529 of the racing, pari-mutuel  wagering
and breeding law is amended to read as follows:
  2.  [Ninety-five  percent  of  the  balance  of such account remaining
unclaimed as of the last day of February of such year shall be  paid  to
the state tax commission by March fifteenth. On or before April tenth of
each  year  the  balance of such account and any other unclaimed amounts
received in the course of conducting off-track betting shall be paid  by
such  corporation to the state tax commission. A penalty of five percent
and interest at the rate of one percent per month from the due  date  to
the  date  of  payment  of  the unclaimed balance due March fifteenth or
April tenth, as the case may be, shall be payable in case  such  balance
is  not  paid  when  due.  Such  amounts,  interest  and  penalties when
collected by the state tax commission shall be deposited into the gener-
al fund of the state treasury] AFTER APRIL FIRST ANY  SUM  REMAINING  IN
THE  ACCOUNT  SHALL  BE  APPLIED TO THE USE AND PURPOSE OF SUCH REGIONAL
CORPORATION.
  S 4. This act shall take effect immediately.