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Sponsors
1 Co-sponsor
History
- Referred to racing, gaming and wagering
- 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.
Caps the salaries of certain not-for-profit corporation executives
In Assembly Committee · Racing And Wagering · Sponsor Micah Kellner
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5756
Title of bill
An act to amend the racing, pari-mutuel wagering and breeding law, in relation to capping the salaries of certain not-for-profit corporation executives
Purpose
An act to limit the salaries for certain not-for-profit corporate executives.
Summary of provisions
Section 1: The racing, pari-mutuel wagering and breeding law is amended by adding a new section 202-c to read:
a) Any executive of any not-for-profit corporation which has a franchise agreement to operate franchise racetracks in the state shall have a salary not to exceed one hundred ninety nine thousand dollars.
Section 2: This act shall take place immediately.
Justification
In January of 2012, Governor Cuomo issued Executive Order 38, which limits excessive compensation and administrative expenses at certain non-profits that receive state funds or state-authorized payments of federal funds. The executive order prohibits these non-profits from spending more than $199,000 in state funds for compensation of an executive. The New York Racing Association (NYRA) is a non-profit that has a major franchise agreement with New York State, but is not required to comply with Executive Order 38. Currently, some NYRA executives make upwards of 23 times more than other NYRA employees, as well as bonuses, which is excessive compensation. This legislation helps to level the pay scale of employees throughout NYRA while complying with the spirit of Executive Order 3B.
Legislative history
New Bill.
Fiscal implications
Undetermined.
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.