NY A04204

Adds definition of "newly eligible municipality" to include counties, cities, towns, or villages with video lottery gaming facilities that were not operating as of January 1, 2015.

Establishes that newly eligible municipalities receive state aid equal to 3.5 percent of estimated net machine income generated by video lottery gaming facilities.

Allocates aid with 25 percent to the county and 75 percent distributed on a pro rata basis to other eligible municipalities based on population.

Caps state aid payments at 25 percent of an eligible municipality's total expenditures as reported by the Comptroller in the preceding fiscal year.

Requires newly eligible municipalities to use state aid payments to defray local costs associated with video lottery gaming facilities or to minimize or reduce real property taxes.