S 4865 NY
Relates to the authority of the capital district regional off-track betting corporation to retain and disburse certain uncashed tickets
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Summary
This bill amends New York racing law to require the Capital District Regional Off-Track Betting Corporation to distribute one hundred percent of its unclaimed account balance to its participating counties by March fifteenth of each year. The unclaimed balance is calculated as of the last day of February of each year. If the corporation fails to pay the distribution by April first, a five percent penalty and interest at the rate of one percent per month accrues from the due date until payment is made. The provision applies specifically to the Capital District Regional Off-Track Betting Corporation, distinguishing it from other regional off-track betting corporations. The bill takes effect immediately.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Official abstract
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.
Sponsor (1)
- Patricia Fahy Democratic · primary
Action history (3)
- Feb 13, 2025 REFERRED TO RACING, GAMING AND WAGERING · upper
- Jan 7, 2026 REFERRED TO RACING, GAMING AND WAGERING · upper
- May 20, 2026 REPORTED AND COMMITTED TO FINANCE · upper
Text versions (2)
Full text
Full text imported from assembly.state.ny.us
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Bill No.: Summary Actions Committee Votes Floor Votes Memo Text LFIN Chamber Video/Transcript S04865 Summary: BILL NO S04865   SAME AS No Same As   SPONSOR FAHY   COSPNSR   MLTSPNSR   Amd §529, RWB L   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.
Go to top S04865 Text:
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
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