NY S07411

Repeals and replaces subdivision 4 of section 99-h of the state finance law governing distribution of gaming revenue from a Niagara Falls gaming facility, effective January 1, 2024.

Allocates 80% of annual gaming revenue to Niagara Falls for economic development, neighborhood revitalization, public health and safety, and infrastructure improvements, with interest and income deposited in the city's general operating fund.

Allocates remaining 20% of annual gaming revenue to specified recipients within 35 days of receipt: Niagara Falls Memorial Medical Center ($750,000 cap), Niagara Falls City School District ($750,000 cap), Niagara tourism and convention center corporation ($1,000,000 cap), underground railroad interpretive center ($200,000 minimum or 1%), Mount Saint Mary's Neighborhood Health Center ($50,000), and Niagara Falls Housing Authority ($50,000).

Requires all recipient entities to submit annual expenditure reports to state leaders and city officials by April 1st and imposes weekly penalties (0.5% per week, up to 18%) on the city for late disbursements.

Extends the expiration date of the underlying tribal-state compact revenue account provision from December 31, 2023 to December 31, 2030.