State Codes and Statutes

Statutes > New-york > Pml > Article-2 > 254

§ 254. Resources of fund. 1.  * a. The fund is authorized and directed  to  collect  and receive on a quarterly basis in each calendar year from  any racing corporation or regional off-track betting  corporations  from  on-track  wagers  or  off-track  wagers,  as the case may be, the sum of  one-half of one percent of regular,  multiple  and  exotic  wagers,  and  three  percent  of  super  exotic wagers and to deposit such moneys in a  bank or banks in this state.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. The fund is authorized and directed to  collect  and  receive  in  each  calendar  year  from  any racing corporation or regional off-track  betting corporations from on-track wagers or off-track  wagers,  as  the  case may be, the sum of one-half of one percent of regular, multiple and  exotic  wagers,  and three percent of super exotic wagers and to deposit  such moneys in a bank or banks in this state.    * NB Effective upon the commencement  of  the  operation  of  a  video  lottery facility at Aqueduct racetrack.    b.  The fund is authorized to receive one percent of the total wagered  after payout of prizes for the first year of operation of video  lottery  gaming  at  Aqueduct racetrack, one and one-quarter percent of the total  wagered after payout of prizes for the second year of operation, and one  and one-half percent of the total wagered after payout of prizes for the  third year of operation and thereafter, for an appropriate breeding fund  for the manner of racing conducted at Aqueduct racetrack,  Belmont  Park  racetrack and Saratoga race course.    2.  The  fund  is  authorized  to  dispose  and  distribute the moneys  received  by  it  pursuant  to  this  chapter  and  in  accordance  with  distribution  schedules promulgated by the fund and adopted in the rules  and regulations of the board. Such  schedules  shall  be  developed  and  based  on reasonable estimates of fund income for the fiscal year of the  fund and made  available  prior  to  January  first  of  each  year.  In  formulating distribution schedules, the board of directors may determine  that  for  those  New  York-breds  foaled  after  December thirty-first,  nineteen hundred eighty-seven, the  amounts  to  be  made  available  in  awards to the breeders and owners of such New York-breds which have been  sired by registered New York stallions may exceed the amounts to be made  available  to  the  breeders  and owners of such New York-breds sired by  other  than  registered  New  York  stallions.  Such  schedules  may  be  adjusted, from time to time, by majority vote of the board of directors,  for the following purposes and no other:    * a.  An  amount as shall be determined by the fund, but not in excess  of forty-three percent as awards to breeders of New York-breds finishing  first, second, third and fourth in pari-mutuel races  run  in  New  York  state; except that during any calendar year when the total percentage of  breeder  awards  exceeds forty-three percent of total revenue, the fund,  by a two-thirds vote of  its  board,  may  increase  the  percentage  of  revenue  allotted to breeder awards, but in no event shall the allotment  exceed sixty-five percent of total revenue.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. An amount as shall be determined by the fund, but not  in  excess  of forty-three percent as awards to breeders of New York-breds finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state; except that during any calendar year when the total percentage of  breeder awards exceeds forty-three percent of total revenue,  the  fund,  by  a  two-thirds  vote  of  its  board,  may increase the percentage of  revenue allotted to breeder awards, but in no event shall the  allotment  exceed fifty percent of total revenue.* NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    b.  An amount as shall be determined by the fund, but not in excess of  thirty-three percent as premiums to owners of New  York-breds  finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state and not restricted to  New  York-breds;  except  that  during  any  calendar  year  when  the  total  percentage  of  owner  awards  exceeds  thirty-three percent of total revenue, the fund, by a two-thirds vote of  its board, may increase the percentage  of  revenue  allotted  to  owner  awards,  but  in  no  event  shall the allotment exceed forty percent of  total revenue.    c. An amount as shall be determined by the fund but not in  excess  of  fifteen  percent  as awards to stallion owners, whose New York stallions  have sired New York-breds finishing first, second, third and  fourth  in  pari-mutuel races run in New York state; except that during any calendar  year  when  the  total  percentage  of  stallion  awards exceeds fifteen  percent of total revenue, the fund, by a two-thirds vote of  its  board,  may  increase the percentage of revenue allotted to stallion awards, but  in no event shall the allotment exceed twenty percent of total revenue.    d. (i) An amount as shall be determined by the fund but not in  excess  of  forty-four percent to provide purse moneys for races exclusively for  New York-breds, the conditions of which have been approved by the  fund.  Provided,  however,  that  the fund shall set aside forty percent of the  funds allotted under this subdivision to tracks operated by corporations  licensed or franchised in accordance with the provisions of section  two  hundred  five  or section two hundred six of this article except that in  addition to the other amounts allotted by the fund under this paragraph,  seventy-five percent of fund revenues derived from payments received  in  accordance  with subdivision one of section five hundred twenty-seven of  this chapter shall be allotted exclusively to purses at a track operated  by a corporation licensed under the provisions of  section  two  hundred  five of this article.    (ii)  The  fund may direct a portion or portions of revenues allocated  in this paragraph and dedicated to  a  racing  corporation  licensed  in  accordance  with section two hundred five of this article to pari-mutuel  races at such track which are not restricted to New York-breds  provided  that  the  revenues so allocated shall only be used to enrich any purses  awarded to New York-breds finishing  first,  second,  third,  fourth  or  fifth in such non-restricted races.    * e. An amount as shall be determined by the fund but not in excess of  six percent to advance and promote breeding and raising of thoroughbreds  in  this  state  by  the  publication  and  dissemination of information  relating thereto, and the encouragement  of  interest,  including  among  youth, in the breeding and raising of New York-breds, and to advance and  promote interest generally in agricultural pursuits.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * e. An amount as shall be determined by the fund but not in excess of  five   percent   to   advance   and  promote  breeding  and  raising  of  thoroughbreds in this state by  the  publication  and  dissemination  of  information   relating  thereto,  and  the  encouragement  of  interest,  including among youth, in the breeding and raising  of  New  York-breds,  and to advance and promote interest generally in agricultural pursuits.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  five percent for the administration and management of the fund.* NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  four percent for the administration and management of the fund.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    g. An amount equal to two percent thereof for the promotion of  equine  research  through  a  fund  of a land grant university within this state  with a regents approved veterinary college facility.    All moneys of the fund in excess of seventy-five thousand  dollars  on  hand  at  the end of each calendar year shall be apportioned between and  paid to the state and the regional off-track betting corporations  based  on the level of contributions to such fund during the year by the racing  corporations   and   the   regional   off-track   betting  corporations,  respectively. Payment of such money to the state and such  corporations,  respectively, shall be made by March fifteenth of the year following the  close of such calendar year.    That  portion  returned to the regional off-track betting corporations  shall  be  distributed  prior  to  May  first  of  such  year   to   the  participating   local   governments  within  each  region  in  the  same  proportion as the  net  earnings  of  such  corporation  for  the  prior  calendar year were distributed.

State Codes and Statutes

Statutes > New-york > Pml > Article-2 > 254

§ 254. Resources of fund. 1.  * a. The fund is authorized and directed  to  collect  and receive on a quarterly basis in each calendar year from  any racing corporation or regional off-track betting  corporations  from  on-track  wagers  or  off-track  wagers,  as the case may be, the sum of  one-half of one percent of regular,  multiple  and  exotic  wagers,  and  three  percent  of  super  exotic wagers and to deposit such moneys in a  bank or banks in this state.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. The fund is authorized and directed to  collect  and  receive  in  each  calendar  year  from  any racing corporation or regional off-track  betting corporations from on-track wagers or off-track  wagers,  as  the  case may be, the sum of one-half of one percent of regular, multiple and  exotic  wagers,  and three percent of super exotic wagers and to deposit  such moneys in a bank or banks in this state.    * NB Effective upon the commencement  of  the  operation  of  a  video  lottery facility at Aqueduct racetrack.    b.  The fund is authorized to receive one percent of the total wagered  after payout of prizes for the first year of operation of video  lottery  gaming  at  Aqueduct racetrack, one and one-quarter percent of the total  wagered after payout of prizes for the second year of operation, and one  and one-half percent of the total wagered after payout of prizes for the  third year of operation and thereafter, for an appropriate breeding fund  for the manner of racing conducted at Aqueduct racetrack,  Belmont  Park  racetrack and Saratoga race course.    2.  The  fund  is  authorized  to  dispose  and  distribute the moneys  received  by  it  pursuant  to  this  chapter  and  in  accordance  with  distribution  schedules promulgated by the fund and adopted in the rules  and regulations of the board. Such  schedules  shall  be  developed  and  based  on reasonable estimates of fund income for the fiscal year of the  fund and made  available  prior  to  January  first  of  each  year.  In  formulating distribution schedules, the board of directors may determine  that  for  those  New  York-breds  foaled  after  December thirty-first,  nineteen hundred eighty-seven, the  amounts  to  be  made  available  in  awards to the breeders and owners of such New York-breds which have been  sired by registered New York stallions may exceed the amounts to be made  available  to  the  breeders  and owners of such New York-breds sired by  other  than  registered  New  York  stallions.  Such  schedules  may  be  adjusted, from time to time, by majority vote of the board of directors,  for the following purposes and no other:    * a.  An  amount as shall be determined by the fund, but not in excess  of forty-three percent as awards to breeders of New York-breds finishing  first, second, third and fourth in pari-mutuel races  run  in  New  York  state; except that during any calendar year when the total percentage of  breeder  awards  exceeds forty-three percent of total revenue, the fund,  by a two-thirds vote of  its  board,  may  increase  the  percentage  of  revenue  allotted to breeder awards, but in no event shall the allotment  exceed sixty-five percent of total revenue.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. An amount as shall be determined by the fund, but not  in  excess  of forty-three percent as awards to breeders of New York-breds finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state; except that during any calendar year when the total percentage of  breeder awards exceeds forty-three percent of total revenue,  the  fund,  by  a  two-thirds  vote  of  its  board,  may increase the percentage of  revenue allotted to breeder awards, but in no event shall the  allotment  exceed fifty percent of total revenue.* NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    b.  An amount as shall be determined by the fund, but not in excess of  thirty-three percent as premiums to owners of New  York-breds  finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state and not restricted to  New  York-breds;  except  that  during  any  calendar  year  when  the  total  percentage  of  owner  awards  exceeds  thirty-three percent of total revenue, the fund, by a two-thirds vote of  its board, may increase the percentage  of  revenue  allotted  to  owner  awards,  but  in  no  event  shall the allotment exceed forty percent of  total revenue.    c. An amount as shall be determined by the fund but not in  excess  of  fifteen  percent  as awards to stallion owners, whose New York stallions  have sired New York-breds finishing first, second, third and  fourth  in  pari-mutuel races run in New York state; except that during any calendar  year  when  the  total  percentage  of  stallion  awards exceeds fifteen  percent of total revenue, the fund, by a two-thirds vote of  its  board,  may  increase the percentage of revenue allotted to stallion awards, but  in no event shall the allotment exceed twenty percent of total revenue.    d. (i) An amount as shall be determined by the fund but not in  excess  of  forty-four percent to provide purse moneys for races exclusively for  New York-breds, the conditions of which have been approved by the  fund.  Provided,  however,  that  the fund shall set aside forty percent of the  funds allotted under this subdivision to tracks operated by corporations  licensed or franchised in accordance with the provisions of section  two  hundred  five  or section two hundred six of this article except that in  addition to the other amounts allotted by the fund under this paragraph,  seventy-five percent of fund revenues derived from payments received  in  accordance  with subdivision one of section five hundred twenty-seven of  this chapter shall be allotted exclusively to purses at a track operated  by a corporation licensed under the provisions of  section  two  hundred  five of this article.    (ii)  The  fund may direct a portion or portions of revenues allocated  in this paragraph and dedicated to  a  racing  corporation  licensed  in  accordance  with section two hundred five of this article to pari-mutuel  races at such track which are not restricted to New York-breds  provided  that  the  revenues so allocated shall only be used to enrich any purses  awarded to New York-breds finishing  first,  second,  third,  fourth  or  fifth in such non-restricted races.    * e. An amount as shall be determined by the fund but not in excess of  six percent to advance and promote breeding and raising of thoroughbreds  in  this  state  by  the  publication  and  dissemination of information  relating thereto, and the encouragement  of  interest,  including  among  youth, in the breeding and raising of New York-breds, and to advance and  promote interest generally in agricultural pursuits.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * e. An amount as shall be determined by the fund but not in excess of  five   percent   to   advance   and  promote  breeding  and  raising  of  thoroughbreds in this state by  the  publication  and  dissemination  of  information   relating  thereto,  and  the  encouragement  of  interest,  including among youth, in the breeding and raising  of  New  York-breds,  and to advance and promote interest generally in agricultural pursuits.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  five percent for the administration and management of the fund.* NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  four percent for the administration and management of the fund.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    g. An amount equal to two percent thereof for the promotion of  equine  research  through  a  fund  of a land grant university within this state  with a regents approved veterinary college facility.    All moneys of the fund in excess of seventy-five thousand  dollars  on  hand  at  the end of each calendar year shall be apportioned between and  paid to the state and the regional off-track betting corporations  based  on the level of contributions to such fund during the year by the racing  corporations   and   the   regional   off-track   betting  corporations,  respectively. Payment of such money to the state and such  corporations,  respectively, shall be made by March fifteenth of the year following the  close of such calendar year.    That  portion  returned to the regional off-track betting corporations  shall  be  distributed  prior  to  May  first  of  such  year   to   the  participating   local   governments  within  each  region  in  the  same  proportion as the  net  earnings  of  such  corporation  for  the  prior  calendar year were distributed.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Pml > Article-2 > 254

§ 254. Resources of fund. 1.  * a. The fund is authorized and directed  to  collect  and receive on a quarterly basis in each calendar year from  any racing corporation or regional off-track betting  corporations  from  on-track  wagers  or  off-track  wagers,  as the case may be, the sum of  one-half of one percent of regular,  multiple  and  exotic  wagers,  and  three  percent  of  super  exotic wagers and to deposit such moneys in a  bank or banks in this state.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. The fund is authorized and directed to  collect  and  receive  in  each  calendar  year  from  any racing corporation or regional off-track  betting corporations from on-track wagers or off-track  wagers,  as  the  case may be, the sum of one-half of one percent of regular, multiple and  exotic  wagers,  and three percent of super exotic wagers and to deposit  such moneys in a bank or banks in this state.    * NB Effective upon the commencement  of  the  operation  of  a  video  lottery facility at Aqueduct racetrack.    b.  The fund is authorized to receive one percent of the total wagered  after payout of prizes for the first year of operation of video  lottery  gaming  at  Aqueduct racetrack, one and one-quarter percent of the total  wagered after payout of prizes for the second year of operation, and one  and one-half percent of the total wagered after payout of prizes for the  third year of operation and thereafter, for an appropriate breeding fund  for the manner of racing conducted at Aqueduct racetrack,  Belmont  Park  racetrack and Saratoga race course.    2.  The  fund  is  authorized  to  dispose  and  distribute the moneys  received  by  it  pursuant  to  this  chapter  and  in  accordance  with  distribution  schedules promulgated by the fund and adopted in the rules  and regulations of the board. Such  schedules  shall  be  developed  and  based  on reasonable estimates of fund income for the fiscal year of the  fund and made  available  prior  to  January  first  of  each  year.  In  formulating distribution schedules, the board of directors may determine  that  for  those  New  York-breds  foaled  after  December thirty-first,  nineteen hundred eighty-seven, the  amounts  to  be  made  available  in  awards to the breeders and owners of such New York-breds which have been  sired by registered New York stallions may exceed the amounts to be made  available  to  the  breeders  and owners of such New York-breds sired by  other  than  registered  New  York  stallions.  Such  schedules  may  be  adjusted, from time to time, by majority vote of the board of directors,  for the following purposes and no other:    * a.  An  amount as shall be determined by the fund, but not in excess  of forty-three percent as awards to breeders of New York-breds finishing  first, second, third and fourth in pari-mutuel races  run  in  New  York  state; except that during any calendar year when the total percentage of  breeder  awards  exceeds forty-three percent of total revenue, the fund,  by a two-thirds vote of  its  board,  may  increase  the  percentage  of  revenue  allotted to breeder awards, but in no event shall the allotment  exceed sixty-five percent of total revenue.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * a. An amount as shall be determined by the fund, but not  in  excess  of forty-three percent as awards to breeders of New York-breds finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state; except that during any calendar year when the total percentage of  breeder awards exceeds forty-three percent of total revenue,  the  fund,  by  a  two-thirds  vote  of  its  board,  may increase the percentage of  revenue allotted to breeder awards, but in no event shall the  allotment  exceed fifty percent of total revenue.* NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    b.  An amount as shall be determined by the fund, but not in excess of  thirty-three percent as premiums to owners of New  York-breds  finishing  first,  second,  third  and  fourth in pari-mutuel races run in New York  state and not restricted to  New  York-breds;  except  that  during  any  calendar  year  when  the  total  percentage  of  owner  awards  exceeds  thirty-three percent of total revenue, the fund, by a two-thirds vote of  its board, may increase the percentage  of  revenue  allotted  to  owner  awards,  but  in  no  event  shall the allotment exceed forty percent of  total revenue.    c. An amount as shall be determined by the fund but not in  excess  of  fifteen  percent  as awards to stallion owners, whose New York stallions  have sired New York-breds finishing first, second, third and  fourth  in  pari-mutuel races run in New York state; except that during any calendar  year  when  the  total  percentage  of  stallion  awards exceeds fifteen  percent of total revenue, the fund, by a two-thirds vote of  its  board,  may  increase the percentage of revenue allotted to stallion awards, but  in no event shall the allotment exceed twenty percent of total revenue.    d. (i) An amount as shall be determined by the fund but not in  excess  of  forty-four percent to provide purse moneys for races exclusively for  New York-breds, the conditions of which have been approved by the  fund.  Provided,  however,  that  the fund shall set aside forty percent of the  funds allotted under this subdivision to tracks operated by corporations  licensed or franchised in accordance with the provisions of section  two  hundred  five  or section two hundred six of this article except that in  addition to the other amounts allotted by the fund under this paragraph,  seventy-five percent of fund revenues derived from payments received  in  accordance  with subdivision one of section five hundred twenty-seven of  this chapter shall be allotted exclusively to purses at a track operated  by a corporation licensed under the provisions of  section  two  hundred  five of this article.    (ii)  The  fund may direct a portion or portions of revenues allocated  in this paragraph and dedicated to  a  racing  corporation  licensed  in  accordance  with section two hundred five of this article to pari-mutuel  races at such track which are not restricted to New York-breds  provided  that  the  revenues so allocated shall only be used to enrich any purses  awarded to New York-breds finishing  first,  second,  third,  fourth  or  fifth in such non-restricted races.    * e. An amount as shall be determined by the fund but not in excess of  six percent to advance and promote breeding and raising of thoroughbreds  in  this  state  by  the  publication  and  dissemination of information  relating thereto, and the encouragement  of  interest,  including  among  youth, in the breeding and raising of New York-breds, and to advance and  promote interest generally in agricultural pursuits.    * NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * e. An amount as shall be determined by the fund but not in excess of  five   percent   to   advance   and  promote  breeding  and  raising  of  thoroughbreds in this state by  the  publication  and  dissemination  of  information   relating  thereto,  and  the  encouragement  of  interest,  including among youth, in the breeding and raising  of  New  York-breds,  and to advance and promote interest generally in agricultural pursuits.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  five percent for the administration and management of the fund.* NB Expires upon the commencement of the operation of a video lottery  facility at Aqueduct racetrack.    * f. An amount as shall be determined by the fund but not in excess of  four percent for the administration and management of the fund.    * NB  Effective  upon  the  commencement  of  the operation of a video  lottery facility at Aqueduct racetrack.    g. An amount equal to two percent thereof for the promotion of  equine  research  through  a  fund  of a land grant university within this state  with a regents approved veterinary college facility.    All moneys of the fund in excess of seventy-five thousand  dollars  on  hand  at  the end of each calendar year shall be apportioned between and  paid to the state and the regional off-track betting corporations  based  on the level of contributions to such fund during the year by the racing  corporations   and   the   regional   off-track   betting  corporations,  respectively. Payment of such money to the state and such  corporations,  respectively, shall be made by March fifteenth of the year following the  close of such calendar year.    That  portion  returned to the regional off-track betting corporations  shall  be  distributed  prior  to  May  first  of  such  year   to   the  participating   local   governments  within  each  region  in  the  same  proportion as the  net  earnings  of  such  corporation  for  the  prior  calendar year were distributed.