WeVote
Log In

Bill

Bill

S 8419

Relates to funds in the Catskill off-track betting corporation's capital acquisition fund

2025 Regular Session Introduced by Joe Addabbo

Bill S 8419 ensures effective management of the Catskill Off-Track Betting Corporation's capital acquisition fund, enhancing transparency and improving local operations.

RETURNED TO SENATE
0
WeVote Research Nonpartisan
Bill Summary · S 8419

Summary of Bill S 8419

Bill Information

  • Bill Number: S 8419
  • Title: Relates to funds in the Catskill off-track betting corporation's capital acquisition fund
  • Status: RETURNED TO SENATE
  • Introduced: June 09, 2025
  • Classification: Bill

Purpose and Intent

Bill S 8419 aims to address the management and allocation of funds within the Catskill Off-Track Betting Corporation's (OTB) capital acquisition fund. The bill seeks to ensure that the financial resources designated for capital improvements and acquisitions are utilized effectively to enhance the operations of the OTB.

Key Provisions

  • Capital Acquisition Fund Management: The bill outlines specific guidelines for the use of funds within the Catskill OTB's capital acquisition fund. It emphasizes transparency and accountability in how these funds are allocated and spent.
  • Reporting Requirements: The bill may include provisions for regular reporting on the status of the capital acquisition fund, ensuring stakeholders are informed about expenditures and project progress.
  • Funding Allocation: It is expected that the bill will delineate how funds can be used for various capital projects, potentially including infrastructure improvements, technology upgrades, and other enhancements that support the OTB's operations.

Affected Parties

  • Catskill Off-Track Betting Corporation: The primary entity impacted by this legislation, as it will directly influence how the corporation manages its capital acquisition fund.
  • Stakeholders and Investors: Individuals and organizations with a vested interest in the Catskill OTB may be affected by changes in fund management and reporting practices.
  • Local Economy: The bill could indirectly impact the local economy by facilitating improvements that enhance the OTB's services and attract more patrons.

Legislative Timeline

  • June 09, 2025: Bill introduced and referred to the Rules Committee.
  • June 12, 2025: Passed in the Senate and delivered to the Assembly; referred to the Ways and Means Committee.
  • June 13, 2025: Substituted for companion bill A 8892, passed in the Assembly, and returned to the Senate.
  • Current Status: The bill has been returned to the Senate for further consideration.

Related Bills

  • A 8892: This is the companion bill to S 8419, which may contain similar provisions or objectives regarding the Catskill OTB's capital acquisition fund.

This summary provides an overview of Bill S 8419, highlighting its purpose, key provisions, affected parties, and legislative timeline. The bill represents an effort to enhance the operational efficiency and financial management of the Catskill Off-Track Betting Corporation.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.