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MEMORANDUM IN SUPPORT

A BUDGET BILL submitted by the Governor
in accordance with Article VII of the Constitution

AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to the non-profit racing association oversight board

Purpose: This bill is intended to facilitate implementation of the 2005-06 State Budget.

Summary of Provisions:

This bill amends section 208-b of the Racing, Pari-Mutuel Wagering and Breeding Law to modify the existing provisions regarding the Non-Profit Racing Association Oversight Board by establishing the Board as a public benefit corporation and indemnifying its members.

The amendments made by this Act shall be repealed on the same date as such section is repealed pursuant to Chapter 354 of the Laws of 2005, as amended.

Existing Law: This is a new bill.

Statement in Support: These actions will permit the Board to act more expeditiously to take administrative actions authorized within section 208-b, including actions that may be necessary to preserve and protect the State’s thoroughbred racing industry and attendant State revenues that result from that industry’s continued operation.

Budget Implications: The provisions of this bill are accommodated in the current Financial Plan for 2005-06.

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