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Sponsors
Senator · Senate District 42
No co-sponsors yet.
History
- Signed chap.454
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.362
- Substituted for A10092
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 59–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1070
Show 2 earlier actions
- Reported and committed to finance
- Referred to racing, gaming and wagering
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to extending certain provisions relating to capital awards to vendor tracks
Assembly Floor Calendar · Sponsor J. Gary Pretlow
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7049
Title of bill
An act to amend the tax law, in relation to capital awards to vendor tracks
Purpose or general idea of bill
To extend for one year the ability of vendor tracks to carryover the unused portion of their capital award from one year into subsequent years and to extend the deadline for submission and completion of projects which would qualify for the vendor's capital award.
Summary of specific provisions
Section 1. Amends clause (H) of subparagraph (ii) of paragraph 1 of subdivision b of section 1612 of the tax law to extend for one year the ability of vendor tracks (except for Aqueduct Racetrack) to carryover the unused portion of their capital award from one year into subsequent years. It also extends by one year the deadline for submission and completion of projects which would qualify for the vendor's capital award.
Section 2. Effective date.
Justification
Currently there is significant movement in the area of gaming policy in New York State and a constitutional amendment to allow full casino gaming may go before the voters of New York in November of 2013. This one year extender would give vendor tracks the ability to see the resol- ution of this issue before being locked into capital award projects which may become moot or even counterproductive depending on the direc- tion of New York State gaming policy.
Prior legislative history
None.
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.