NY S05705

Extends the Catskill region off-track betting corporation to include Richmond, Queens, Kings, Bronx, and New York counties, allowing it to operate betting facilities within New York City.

Creates a Site Selection Board to approve any property purchases or leases for off-track betting facilities in New York City, composed of representatives from the Urban Development Corporation, Mayor's office, borough presidents, community boards, and City Comptroller.

Requires the Catskill off-track betting corporation to submit a comprehensive business plan to the Racing and Wagering Board for approval before implementing operations in New York City, with a 30-day review period.

Directs all payments that would otherwise go to the five NYC counties to be paid to the City of New York's general fund instead.

Allows the Catskill off-track betting corporation to use up to $2.5 million from its capital acquisition fund for general corporate purposes upon written notice to the Racing and Wagering Board.