New York A05925 amends the racing, pari-mutuel wagering, and breeding law to allow off-track betting corporations to use capital acquisition funds.

New York A05925 amends the racing, pari-mutuel wagering, and breeding law to allow regional off-track betting corporations to use their capital acquisition funds for employee salaries, benefits, and other expenses. The bill specifies that these funds can be used for statutory obligations, payroll, and expenses necessary to accept authorized wagers. It also outlines the conditions under which these funds can be utilized, including the requirement for corporations to submit expenditure plans to the New York State Gaming Commission for review.

New York A05925 amends the racing, pari-mutuel wagering, and breeding law to allow off-track betting corporations to use capital acquisition funds.

New York A05925 amends the racing, pari-mutuel wagering, and breeding law to allow regional off-track betting corporations to use their capital acquisition funds for employee salaries, benefits, and other expenses. The bill specifies that these funds can be used for statutory obligations, payroll, and expenses necessary to accept authorized wagers. It also outlines the conditions under which these funds can be utilized, including the requirement for corporations to submit expenditure plans to the New York State Gaming Commission for review.