US Laws, Codes, Statutes & Cases

 
    §  247.  Resources  of fund. 1. The fund is authorized and directed to
  collect and receive in each calendar year from any racing association or
  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.
    2.  The  fund  is  authorized  to  dispose  and  distribute the moneys
  received by it pursuant  to  the  provisions  of  sections  two  hundred
  twenty-two  through seven hundred five of 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 fifty percent of total revenue.
    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 associations
  or corporations licensed or franchised in accordance with the provisions
  of  section  two  hundred  seven  or  section  two hundred eight 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 or association licensed
  under the provisions of section two hundred seven of this article.
    (ii)  The  fund may direct a portion or portions of revenues allocated
  in this paragraph and dedicated to a racing association  or  corporation
  licensed in accordance with section two hundred seven 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
  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.
    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.
    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
  associations  or  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.