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A6307Assembly2017-2018 Session

Use Slots Money for Track

Official title

“Provides that certain revenue generated from video lottery terminals at the Aqueduct racetrack be used solely for the maintenance and upgrading of the Aqueduct racetrack”

Sponsor Stacey Pheffer AmatoAD-23Affects Finance
Status
In Assembly Committee
Ways And Means
Impact
3/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Ways And Means

What's happening

This bill directs certain video lottery revenue at Aqueduct racetrack to be used only for Aqueduct's maintenance and upgrades, not Belmont Park or Saratoga.

Why it matters

  1. Focuses Aqueduct's video lottery revenue on its own facilities. , which could lead to more dedicated and predictable funding for maintenance and improvements at Aqueduct, potentially enhancing the local racing environment and visitor experience in Queens.

  2. Removes Aqueduct's obligation to share these funds with Belmont Park and Saratoga. , which may affect the financial support and capital improvement plans at those other major racetracks, possibly shifting their reliance to alternative funding sources.

  3. Could influence regional economic impacts. , as improved facilities at Aqueduct may boost local jobs, tourism, and community engagement, while the change could also create new fiscal pressures or competition among New York's racetracks for state and private investment.

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Who cares

Headline styles

Use Slots Money for Track

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Stacey Pheffer Amato

Assembly Member · Assembly District 23

Chair, Governmental Employees

No co-sponsors yet.

History

  1. Referred to ways and means
  2. Referred to ways and means

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

6307

2017-2018 Regular Sessions

IN ASSEMBLY

March 2, 2017

Introduced by M. of A. PHEFFER AMATO -- read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to the disposition of certain revenue from the video lottery gaming facility at Aqueduct racetrack

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Paragraph 3 of subdivision f of section 1612 of the tax law, as amended by chapter 174 of the laws of 2013, is amended to read as follows:

3. Four percent of the total revenue wagered after payout of prizes to be deposited into an account of the franchised corporation established pursuant to section two hundred six of the racing, pari-mutuel wagering and breeding law to be used for capital expenditures in maintaining and upgrading Aqueduct racetrack[, Belmont Park racetrack and Saratoga race course].

§ 2. This act shall take effect immediately.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD09594-01-7

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.