NY A02229

Modifies the tribal-state compact revenue account to require that moneys from gaming facilities in Buffalo, Erie County be distributed according to new subdivision five rather than to municipal governments collectively.

Establishes that the City of Buffalo retains 96.5 percent of annual revenues from Buffalo gaming facilities and awards 3.5 percent to entities supporting cultural institutions, tourism development, and marketing in Erie County within 35 days of receipt.

Requires annual reporting to state and local officials by April 1st detailing all moneys received and expenditures, with penalties of 0.5 percent per week (up to 18 percent) for late disbursement by Buffalo.

Directs that if appropriated gaming facility moneys cannot be received or utilized, they shall be distributed to the City of Buffalo for economic development projects.

All amendments expire December 31, 2018, with the provisions reverting to previous law or being deemed repealed.