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Relates to the distribution of the additional vendor's marketing allowance by any operator of a racetrack located in the county of Westchester
In Assembly Committee · Racing And Wagering · Sponsor J. Gary Pretlow
Full text
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Sponsor's memo
BILL NUMBER:S2391
Title of bill
An act to amend the tax law, in relation to the distribution of the additional vendor's marketing allowance by any operator of a racetrack located in the county of Westchester
Purpose or general idea of bill
Relates to the distribution the additional vendor's marketing allowance by any operator of a racetrack located in the county of Westchester.
Summary of specific provisions
Amends subdivision b of section 1612 of the tax law, as amended by section 1 part O-1 of chapter 57 of the laws of 2009. The additional vendor's marketing allowance for any operator of a racetrack located in Westchester County expended by such operator for marketing shall not exceed 4% of the total revenue wagered at the vendor track after payout for prizes pursuant to this chapter in any year and the remainder of such additional vendor's marketing allowance for such operator calculated pursuant to this subdivision, not to exceed $25 million annually, shall be paid by such operator to the Yonkers city school District board of education in quarterly payments commencing July first, two thousand six to support and maintain educational programs established pursuant to the settlement agreement dated January 31, 2002 in the united States of America v. Yonkers Board of Education. Notwithstanding any other provision of law, rule or regulation to the contrary, such amount provided pursuant to this subdivision shall be in addition to any annual maintenance of effort requirement imposed on the state or city of Yonkers.
Justification
The revenues generated from the Video Lottery Terminals are expected to bring enormous benefits to the State of New York in the form of additional dollars to education. This bill will drive a portion of the revenues generated from the VLTs to the Yonkers city school District to support and maintain educational programs established settlement pursuant to the settlement agreement dated January 31, 2002 in the United States if America v. Yonkers Board of Education. Under this legislation, the Yonkers schools would receive 4 percent of the first $100 million of revenues from the VLTs in Yonkers at 1 percent for each subsequent $100 million.
Prior legislative history
S.3283-A of 2010 - Held in Racing, Gaming & Wagering A.3179 of 2008 A.8881 of 2006
Effective date
July 1, 2014
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.