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Sponsors
2 Co-sponsors
History
- Referred to finance
- Referred to finance
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.
Increases the minimum percentage collected by the municipal governments hosting the facility
In Assembly Committee · Ways And Means · Sponsor John Ceretto
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2073
Title of bill
An act to amend the state finance law and the executive law, in relation to authorizing municipal governments hosting tribal casinos to receive payments directly from Native American nations or tribes; and in relation to Tribal-state compact revenue accounts
Purpose
To increase to 50% from 25% the minimum percentage of the net drop from electronic gaming devices municipal host facilities receive ("local slots revenue") from the state pursuant to compact.
Summary of specific provisions
Section one increases the percentage of money from 25% to 50% that the host municipalities of Buffalo and Niagara receive from the state, pursuant to the negotiated compact agreements entered into between the state and tribal nations.
Justification
Under current law, municipalities such as the cities of Niagara and Buffalo that host Indian gaming facilities' are only entitled to receive a minimum 25% of the state's total takeout from the net drop of electronic gaming devices. The state, on the other hand, is reaping the vast majority of the revenue (the remaining 75%). Put in the simplest terms, host municipalities are being shortchanged.
Given the amount of construction and development underway in Niagara, Buffalo and surrounding areas, it becomes clear that more funds from the casino must be directed to host municipalities to help offset the burden on the taxpayers who live in these areas who are otherwise shouldering these costs.
In 2004-05 nearly $24 million dollars was sent back to Niagara to help offset the costs incurred in connection with the services that are provided to the Seneca casino as well as for economic development. While this amount of money is by no means small, more is needed to help continue and assist with some of the major projects currently underway in the region such as the Niagara Experience Center museum, expansion of a new terminal at the Niagara Falls International Airport, and additional construction at Niagara Falls Memorial Medical Center.
Prior legislative history
Similar to S. 1226 of 2009/10; Advanced to Third Reading S. 2888A Referred to Senate Finance Committee
Fiscal implications
Approximately $22 million dollars will be shifted from the State to Local Municipalities.
Effective date
This act shall take effect immediately, with provisions.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.