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NY S08667
Bill
Status
6/20/2018
Primary Sponsor
George Amedore
Click for details
AI Summary
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Allows regional off-track betting corporations to use up to $5 million annually from their capital acquisition fund to pay employee salaries, benefits, and other operating expenses.
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Requires that at least 5% of funds distributed go to participating counties based on population as determined by the most recent decennial federal census.
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Permits fund use only if the corporation is not utilizing the capital acquisition fund for corporate purposes under chapter 58, laws of 2012.
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Requires regional off-track betting corporations to notify the New York State Gaming Commission in writing at least 15 days before utilizing monies for corporate purposes.
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Takes effect immediately upon enactment.
Legislative Description
Relates to the utilization of a capital acquisition fund by an off-track betting corporation to offset expenses related to salaries and benefits for the corporation's employees and other expenses.
Last Action
referred to racing and wagering
6/20/2018