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NY A03871

Bill

Official Source

Status

Introduced

1/27/2015

Primary Sponsor

Phillip Goldfeder

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends Tax Law Section 1612 to modify the disposition of video lottery gaming revenue from Aqueduct racetrack
  • Four percent of total wagered revenue (after prize payouts) must be deposited into a franchised corporation account for capital expenditures
  • Limits use of these funds to maintaining and upgrading Aqueduct racetrack only, removing previous language that included Belmont Park and Saratoga race course
  • Takes effect immediately upon enactment

Legislative Description

Provides that certain revenue generated from video lottery terminals at the Aqueduct racetrack be used solely for the maintenance and upgrading of the Aqueduct racetrack.

Last Action

enacting clause stricken

11/10/2016

Committee Referrals

Ways and Means1/27/2015

Full Bill Text

No bill text available