Prohibits mobile sports wagering operators, including parent companies or subsidiaries thereof, from being eligible to receive the excelsior jobs program credit.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A10513
SPONSOR: Steck TITLE OF BILL:
An act to amend the economic development law, in relation to prohibiting
mobile sports wagering operators from being eligible to receive the
excelsior jobs program credit
SUMMARY OF SPECIFIC PROVISIONS:
Subdivision 5 of section 353 of the economic development laW, as amended
by section 2 of part K of chapter 59 of the laws of 2015 is amended to
prohibit a business who is a sports wagering operator from receiving the
Excelsior Jobs Program Credit.
PURPOSE AND JUSTIFICATION:
On February 23rd, 2026, Governor Hochul announced that Fanatics would be
receiving up to $5 million in Excelsior Jobs Program tax credits'.
Fanatics runs several services, including Fanatics Betting & Gaming. It
is deeply irresponsible to use taxpayer money to subsidize a sports
betting operator, especially since an increasing number of New Yorkers
have been developing problem gambling addictions since the legalization
of sports betting in 2022.
This legislation simply prohibits sports wagering operators from receiv-
ing the Excelsior Jobs Program tax credits.
LEGISLATIVE HISTORY:
New Legislation
FISCAL IMPLICATIONS:
None
EFFECTIVE DATE:
This act shall take effect immediately
STATE OF NEW YORK
________________________________________________________________________
10513
IN ASSEMBLY
March 6, 2026
___________
Introduced by M. of A. STECK, K. BROWN -- read once and referred to the
Committee on Economic Development
AN ACT to amend the economic development law, in relation to prohibiting
mobile sports wagering operators from being eligible to receive the
excelsior jobs program credit
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 5 of section 353 of the economic development
2 law, as amended by section 2 of part K of chapter 59 of the laws of
3 2015, is amended to read as follows:
4 5. [A] The following entities, including any parent company or subsid-
5 iary thereof, shall not be eligible to receive the tax credit under this
6 article or any component thereof: (a) a not-for-profit business enti-
7 ty[,]; (b) a business entity whose primary function is the provision of
8 services including personal services, business services, or the
9 provision of utilities[, and]; (c) a business entity engaged predomi-
10 nantly in the retail or entertainment industry, other than a business
11 operating as an entertainment company as defined in this article and
12 other than a business entity engaged in music production[, and]; (d) a
13 company engaged in the generation or distribution of electricity, the
14 distribution of natural gas, or the production of steam associated with
15 the generation of electricity [are not eligible to receive the tax cred-
16 it described in this article]; and (e) a mobile sports wagering opera-
17 tor, as defined by section thirteen hundred sixty-seven of the racing,
18 pari-mutuel wagering and breeding law.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15055-01-6
