Bill Text: NJ A2516 | 2018-2019 | Regular Session | Introduced
Bill Title: Allows permit holder that leases Meadowlands Racetrack from New Jersey Sports and Exposition Authority to conduct wagering on simulcast horse races at sports, retail, and entertainment development at Meadowlands Complex, subject to agreement and approvals.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-02-01 - Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee [A2516 Detail]
Download: New_Jersey-2018-A2516-Introduced.html
Sponsored by:
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Allows permit holder that leases Meadowlands Racetrack from New Jersey Sports and Exposition Authority to conduct wagering on simulcast horse races at sports, retail, and entertainment development at Meadowlands Complex, subject to agreement and approvals.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning wagering on certain simulcast horse races and supplementing P.L.1985, c.269 (C.5:5-110 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding the provisions of any other law to the contrary, a permit holder that leases the Meadowlands Racetrack from the New Jersey Sports and Exposition Authority may conduct wagering on simulcast horse races at the sports, retail, and entertainment development located at the Meadowlands Complex pursuant to an agreement with the operator of that development, subject to the approval of the New Jersey Racing Commission, which approval shall not be unreasonably withheld, and in a manner that is consistent with the provisions of the "Simulcasting Racing Act," P.L.1985, c.269 (C.5:5-110 et seq.). Wagering on simulcast horse races at the sports, retail, and entertainment development shall not be subject to the provisions of the "Off-Track and Account Wagering Act," P.L.2001, c.199 (C.5:5-127 et seq.) and the development shall not be considered one of the 15 off-track wagering facilities authorized to be licensed under that act. For the purposes of this act, P.L. , c. (C. ) (pending before the Legislature as this bill), wagers on simulcast horse races at the sports, retail, and entertainment development shall be considered to be placed at the Meadowlands Racetrack, provided that the amounts generated from wagering at the development shall be reported as an extension of the Meadowlands Racetrack simulcasting signal, and that purse account moneys generated from such signal extension shall be divided evenly between Standardbred and Thoroughbred racing conducted at the Meadowlands Racetrack.
2. This act shall take effect immediately.
STATEMENT
This bill authorizes a permit holder that leases the Meadowlands Racetrack from the New Jersey Sports and Exposition Authority to conduct wagering on simulcast horse races at the sports, retail, and entertainment development located at the Meadowlands Complex pursuant to an agreement with the operator of that development, subject to the approval of the New Jersey Racing Commission, which approval could not be unreasonably withheld, and in a manner that is consistent with the provisions of the "Simulcasting Racing Act." This wagering would not be subject to the provisions of the "Off-Track and Account Wagering Act" and the development would not be considered one of the 15 off-track wagering facilities authorized to be licensed under that act. This bill would clarify that wagers on simulcast horse races at that development will be considered to be placed at the Meadowlands Racetrack. Under the bill, the amounts generated from wagering at the development must be reported as an extension of the Meadowlands Racetrack simulcasting signal, and purse account moneys generated from such signal extension must be divided evenly between Standardbred and Thoroughbred racing conducted at the Meadowlands Racetrack.
