NY S07049

Extends the deadline for vendor track capital award expenditures from April 1, 2013 to April 1, 2014 for approval and from April 1, 2015 to April 1, 2016 for completion.

Allows unused vendor capital awards to be carried over into subsequent years ending before April 1, 2014 instead of the previous deadline.

Permits vendor tracks to continue receiving capital awards after April 1, 2014 if approved expenditures exceed cumulative awards during the five-year period ending April 1, 2013.

Requires any vendor capital awards not approved for expenditure by April 1, 2014 to be deposited into the state lottery fund for education aid.

Maintains existing provisions capping annual vendor capital awards at $2.5 million per track (except Aqueduct racetrack which receives no awards) and requiring co-investment by track operators.