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NY S07532
Bill
Status
1/22/2018
Primary Sponsor
John Bonacic
Click for details
AI Summary
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Allows each off-track betting corporation to choose whether net revenues are distributed to participating counties on an annual, bi-annual, or quarterly basis, decided at the corporation's organizational meeting.
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Removes the mandatory quarterly distribution requirement and the requirement to distribute within 30 days after each calendar quarter closes.
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Maintains the 50/50 split of distributed revenues: half based on proportion of wagering originating from each county's branch offices, and half based on county population using the latest decennial census.
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Requires counties with participating cities to distribute their allocated revenue to those cities proportionally based on the city's population relative to the county's total population.
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Takes effect immediately upon enactment.
Legislative Description
Provides that the disposition of net revenues of regional off-track betting corporations to participating counties may be divided on an annual, bi-annual or quarterly basis as determined by such corporations.
Last Action
COMMITTED TO RULES
6/20/2018