NY A10429

Restructures the New York Racing Association board of directors to consist of 15 members: 8 elected by the executive committee of the reorganization board (with at least one full-time resident from Nassau, Queens, and Saratoga counties each), the CEO, 2 appointed by the governor, 1 by the senate temporary president, 1 by the assembly speaker, 1 by New York Thoroughbred Breeders Inc., and 1 by the New York thoroughbred horsemen's association

Requires the governor to nominate the board chair, subject to majority vote confirmation, with all members having equal voting rights

Establishes staggered initial term expirations: 5 members expire December 31, 2017; 3 members plus breeders and horsemen representatives expire December 31, 2018; and state-appointed members expire December 31, 2019, with subsequent terms of three years

Mandates creation of six board committees: compensation, equine safety, finance, nominating, racing, and executive committees, with specific requirements for state-appointed director participation

Incorporates the new board structure into the corporation's certificate of incorporation effective upon enactment, with subsequent by-law amendments requiring unanimous board vote; effective October 18, 2016