What's happening
This bill allows regional off-track betting corporations to choose whether to distribute net revenues to participating counties annually, bi-annually, or quarterly.
Why it matters
Provides regional off-track betting corporations (OTBs) with flexibility to decide how often they distribute net revenues to counties—annually, bi-annually, or quarterly—which could help OTBs better manage their cash flow, financial planning, and administrative operations.
Gives participating counties more predictability and potential input into when to expect revenue distributions, which could impact local budgeting, public services, or project funding that rely on these OTB revenues.
May affect the timing of when counties and their municipalities receive funds, influencing their ability to address urgent needs or plan long-term investments depending on the chosen distribution schedule.
By changing the basis for calculation from strictly quarterly to a more adaptable ‘period’ approach, the bill could help align revenue distribution with actual business cycles or local preferences, possibly resulting in both operational efficiencies and improved local government relations.
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Who cares
Headline styles
Share OTB Money With Counties
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to racing 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.
Change OTB Payout Timing
In Senate Committee · Rules · Sponsor John J. Bonacic
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9597
IN ASSEMBLY
January 25, 2018
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Racing and Wagering
AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to the disposition of net revenues of regional off-track betting corporations to participating counties
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 2 of section 516 of the racing, pari-mutuel wagering and breeding law is amended to read as follows:
2. After payment of all of the costs of the corporation's functions, net revenue remaining to the corporation shall be divided[, quarterly, not more than thirty days after the close of the calendar quarter], among the participating counties in accordance with the following provisions:
a. Each off-track betting corporation shall determine, at their organizational meeting, if such net revenue remaining to the corporation shall be divided to participating counties on an annual, bi-annual or quarterly basis, to be divided not more than thirty days after the close of the calendar year, the close of the bi-annual year (January-June and July-December) or calendar quarter;
b. Fifty percent of such revenue distributed among the participating counties on the basis of the proportion of the total off-track pari-mutuel wagering accepted by the corporation during the previous [calendar quarter] period that originated in the branch offices located in each participating county;
[b.] c. Fifty percent of such revenue on the basis of population, as defined as the total population in each participating county shown by the latest preceding decennial federal census completed and published as a final population count by the United States bureau of the census preceding the commencement of the calendar year in which such distribution is to be made; and
[c.] d. A participating county containing a city electing to participate in the management and revenues of a corporation under subdivision two of section five hundred two of this article shall distribute revenue
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14082-01-8
A. 9597 2
received under paragraphs [a] b and [b] c of this subdivision to such city according to the proportion such city's population bears to the county's population.
§ 2. This act shall take effect immediately.
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.