BILL NUMBER: S9545
SPONSOR: FAHY
 
TITLE OF BILL:
An act to amend the racing, pari-mutuel wagering and breeding law, in
relation to unclaimed winnings and refunds and the remittance of taxes
 
PURPOSE:
This legislation would provide Capital Off Track Betting Corporation's
participating county governments with more revenue for general county
operational purposes.
 
SUMMARY OF PROVISIONS:
Section one: amend the racing, pari-mutuel wagering and breeding law to
redirect uncashed ticket revenue to Capital Off Track Betting Corpo-
ration 's participating county governments.
Section Two: amend the racing, pari-mutuel wagering and breeding law to
redirect pari-mutuel tax revenue to Capital Off Track Betting Corpo-
ration 's participating county governments.
Section three: Effective date.
 
JUSTIFICATION:
Capital Off-track Betting Corporation is the only racing entity in New
York State that does not have alternative forms of gaming revenue in
terms of electronic gaming or mobile sports wagering supporting their
operations. In addition, of the remaining off-track betting corpo-
rations, Capital is the only entity that is not sending electronic
gaming revenue to its participating counties. This bill, while not a
replacement for electronic gaming revenue, will provide the participat-
ing county governments additional revenue and help support capital OTB
operations.
 
LEGISLATIVE HISTORY:
New bill
 
FISCAL IMPLICATIONS:
TBD.
 
EFFECTIVE DATE:
This act shall take effect immediately.