Assembly Bill A3427

2023-2024 Legislative Session

Relates to the distribution of the additional vendor's marketing allowance by any operator of a racetrack located in the county of Westchester

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A3427 (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Tax Law
Laws Affected:
Amd §1612, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6917
2011-2012: A3651
2013-2014: A3974
2015-2016: A930
2017-2018: A1820
2019-2020: A4462
2021-2022: A3390

2023-A3427 (ACTIVE) - Summary

Provides that the additional vendor's marketing allowance retained by any operator of a racetrack located in the county of Westchester shall not exceed 8 percent of the total revenue wagered at the vendor track after payout for prizes and the remainder of such additional vendor's marketing allowance, not to exceed 25 million dollars, shall be paid to the Yonkers city school district board of education in quarterly payments for the support and maintenance of certain educational programs.

2023-A3427 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3427
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2023
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Racing and Wagering
 
 AN ACT to amend the tax law, in relation  to  the  distribution  of  the
   additional vendor's marketing allowance by any operator of a racetrack
   located in the county of Westchester

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.   Subparagraph (iii) of paragraph 1  of  subdivision  b  of
 section  1612  of  the  tax law is amended by adding a new clause (C) to
 read as follows:
   (C) THE ADDITIONAL VENDOR'S MARKETING ALLOWANCE FOR ANY OPERATOR OF  A
 RACETRACK LOCATED IN THE COUNTY OF WESTCHESTER EXPENDED BY SUCH OPERATOR
 FOR  MARKETING  SHALL  NOT  EXCEED  EIGHT  PERCENT  OF THE TOTAL REVENUE
 WAGERED AT THE VENDOR TRACK AFTER PAYOUT FOR  PRIZES  PURSUANT  TO  THIS
 CHAPTER  IN  ANY  YEAR  AND  THE  REMAINDER  OF SUCH ADDITIONAL VENDOR'S
 MARKETING ALLOWANCE FOR SUCH OPERATOR CALCULATED PURSUANT TO THIS SUBDI-
 VISION, NOT TO EXCEED TWENTY-FIVE MILLION  DOLLARS  ANNUALLY,  SHALL  BE
 PAID  BY  SUCH  OPERATOR  TO  THE  YONKERS CITY SCHOOL DISTRICT BOARD OF
 EDUCATION IN QUARTERLY PAYMENTS  COMMENCING  JULY  FIRST,  TWO  THOUSAND
 TWENTY-FOUR  TO  SUPPORT  AND  MAINTAIN EDUCATIONAL PROGRAMS ESTABLISHED
 PURSUANT TO THE SETTLEMENT AGREEMENT  DATED  JANUARY  THIRTY-FIRST,  TWO
 THOUSAND  TWO IN UNITED STATES OF AMERICA V. YONKERS BOARD OF EDUCATION.
 NOTWITHSTANDING ANY OTHER PROVISION OF LAW, RULE OR  REGULATION  TO  THE
 CONTRARY,  SUCH AMOUNT PROVIDED PURSUANT TO THIS SUBDIVISION SHALL BE IN
 ADDITION TO ANY ANNUAL MAINTENANCE OF EFFORT REQUIREMENT IMPOSED ON  THE
 STATE OR CITY OF YONKERS.
   § 2. This act shall take effect July 1, 2024.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08181-01-3

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