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A00364 Summary:

BILL NOA00364
 
SAME ASNo Same As
 
SPONSORSteck
 
COSPNSR
 
MLTSPNSR
 
Amd 1351, RWB L
 
Authorizes a deduction of a marketing allowance equal to an amount up to eight percent of gross gaming revenue from slot machines for gaming facilities in region two.
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A00364 Actions:

BILL NOA00364
 
01/06/2021referred to racing and wagering
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A00364 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A364
 
SPONSOR: Steck
  TITLE OF BILL: An act to amend the racing, pari-mutuel wagering and breeding law, in relation to authorizing a deduction of a marketing allowance for certain gaming facilities   PURPOSE OR GENERAL IDEA OF BILL: To provide a marketing allowance to ensure the stability of tax revenues to benefit education in response to the opening of the MGM Springfield Casino.   SUMMARY OF SPECIFIC PROVISIONS: Section one provides a marketing allowance which holds the state harm- less by providing that it may only be granted by the commission if the current gross gaming revenue and tax receipts are greater than this past fiscal year's gross gaming revenue and tax receipts. Section. two provides the effective date.   JUSTIFICATION: Since the enactment of the Upstate New York Gaming Economic Development Act of 2013, New York's four gaming facilities have contributed millions of dollars to state education and local property tax relief. In the last fiscal year, Rivers Casino and Resort paid close to $43 million; the most amount of taxes paid by any of the four gaming facilities. Unfortunately, less than a year ago, MGM Springfield opened its $960 million facility just across the state border of Massachusetts. Since then, MGM Springfield has spent a significant amount of money marketing Rivers Casino and Resort patrons which has included sending buses into the Capital District to lure NY resident's to Massachusetts. To make matters worse, MGM Springfield pays a tax rate of 25%, approximately half the tax rate of Rivers Casino and Resort. In order to continue to benefit the Capital District and fund state education at current or greater levels, Rivers Casino and Resort requires a marketing credit to remain competitive with MGM Springfield. This legislation holds both the State Lottery, Schenectady and the surrounding non-host communities harmless in that the NYS Gaming Commis- sion will not grant any allowance for marketing without an increase in gross gaming revenue from this past fiscal year. Thus, the contributions to state education and local property tax relief will continue at or exceed current levels.   PRIOR LEGISLATIVE HISTORY: 2019/20: A8363 referred to racing and wagering   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None.   EFFECTIVE DATE: This act shall take effect immediately.
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A00364 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           364
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 6, 2021
                                       ___________
 
        Introduced  by M. of A. STECK -- 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  authorizing  a  deduction  of  a marketing allowance for
          certain gaming facilities

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  2 of section 1351 of the racing, pari-mutuel
     2  wagering and breeding law is amended by adding a new  paragraph  (e)  to
     3  read as follows:
     4    (e)  A  gaming  facility in region two may deduct from the tax imposed
     5  pursuant to subdivision one of this section a marketing allowance  equal
     6  to  an  amount  up  to  eight  percent of gross gaming revenue from slot
     7  machines; provided, however, the  amount  of  such  marketing  allowance
     8  deducted  by such facility shall not decrease the amount payable by such
     9  gaming facility in any fiscal year below  the  amount  payable  by  such
    10  gaming  facility in the fiscal year ending March thirty-first, two thou-
    11  sand twenty-one.
    12    § 2. This act shall take effect on the ninetieth day  after  it  shall
    13  have become a law.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04252-01-1
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