Bill Text: NY S04865 | 2025-2026 | General Assembly | Introduced
Bill Title: Relates to the authority of the capital district regional off-track betting corporation to retain and disburse certain uncashed tickets to the corporations' participating counties.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2025-02-13 - REFERRED TO RACING, GAMING AND WAGERING [S04865 Detail]
Download: New_York-2025-S04865-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4865 2025-2026 Regular Sessions IN SENATE February 13, 2025 ___________ Introduced by Sen. FAHY -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming and Wager- ing AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to the authority of the capital district regional off-track betting corporation to retain and disburse certain uncashed tickets The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 529 of the racing, pari-mutuel wagering and breed- 2 ing law is amended by adding a new subdivision 3 to read as follows: 3 3. Notwithstanding subdivision two of this section, for a regional 4 off-track betting corporation that is comprised in the capital district, 5 one hundred percent of the balance of such account remaining unclaimed 6 as of the last day of February of such year shall be distributed pursu- 7 ant to section five hundred sixteen of this chapter to participating 8 counties comprising the capital district corporation by March fifteenth. 9 A penalty of five percent and interest at the rate of one percent per 10 month from the due date to the date of payment of the unclaimed balance 11 due April first shall be payable in case such balance is not paid when 12 due under this section. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09491-01-5
