S2901-2013 Actions

• May 7, 2013: REPORTED AND COMMITTED TO FINANCE
• Jan 24, 2013: REFERRED TO RACING, GAMING AND WAGERING

S2901-2013 Meetings

S2901-2013 Votes

S2901-2013 Memo

BILL NUMBER:S2901

TITLE  OF  BILL:    An act to amend the racing, pari-mutuel wagering and
breeding law, in relation to resources of the New York  state  thorough-
bred breeding and development fund

PURPOSE:  To amend � 254 of the Racing Pari-Mutuel Wagering and Breeding
Law  ("Racing  Law") to provide the New York State Thoroughbred Breeding
and Development Fund ("Fund") with greater discretion  to  allocate  its
resources.

SUMMARY OF PROVISIONS:

Section one amends the Racing Law to clarify that existing purse enrich-
ment  allocation  percentages to tracks and incentives can be awarded to
NY Breds regardless of  the  type  of  race  it  has  entered  (open  or
restricted).

Section two is the effective date.

EXISTING LAW:  The existing purse enrichment provision provides that the
monies  allocated  to  purse enrichment be divided in a 60/40 proportion
between the New York thoroughbred track operators.

JUSTIFICATION:  The existing purse enrichment-related  requirement  that
specific  allotments  to  NY  Breds  running  in  only  restricted races
prevents the Fund from awarding a larger pool of NY  Breds  and  further
incentives NY breeders and owners to enter open company races.

LEGISLATIVE HISTORY:

S.7390 of 2012, delivered to Senate, referred to rules

EFFECTIVE DATE: Immediately

S2901-2013 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         2901
 2013-2014 Regular Sessions
 I N  SENATE
 January 24, 2013
 
 Introduced by Sen. MARCHIONE -- 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,  in
 relation  to resources of the New York state thoroughbred breeding and
 development fund
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. Subparagraph (i) of paragraph d of subdivision 2 of section
 254  of the racing, pari-mutuel wagering and breeding law, as amended by
 chapter 18 of the laws of 2008, is amended to read as follows:

 (i) An amount as shall be determined by the fund but not in excess  of
 forty-four  percent  to provide purse moneys [for races] exclusively for
 New York-breds ENTERED IN ALL RACES, the conditions of which  have  been
 approved  by the fund.  Provided, however, that the fund shall set aside
 forty percent of the funds allotted under  this  subdivision  to  tracks
 operated  by  corporations licensed or franchised in accordance with the
 provisions of section two hundred five or section  two  hundred  six  of
 this  article  except  that in addition to the other amounts allotted by
 the fund under this paragraph, seventy-five  percent  of  fund  revenues
 derived  from  payments  received  in accordance with subdivision one of
 section five hundred twenty-seven of  this  chapter  shall  be  allotted
 exclusively  to  purses  at  a  track operated by a corporation licensed
 under the provisions of section two hundred five of this article.
 

S 2. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07500-01-3

*By contributing or voting you agree to the Terms of Participation and Privacy Policy and verify you are over 13.

Discuss!