Bill > S04865

This bill amends the racing, pari-mutuel wagering and breeding law to specifically address how uncashed betting tickets are handled by the Capital District Regional Off-Track Betting (OTB) Corporation. Under the new provision, 100% of the unclaimed account balance as of the last day of February each year must be distributed to the participating counties in the Capital District by March 15th. If the corporation fails to distribute the unclaimed funds by April 1st, they will be subject to a 5% penalty and must pay 1% interest per month on the outstanding balance from the due date until payment is made. This change provides a clear mechanism for distributing unclaimed gambling ticket revenues to local counties and imposes financial penalties for non-compliance. The bill takes effect immediately upon passage.

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https://www.nysenate.gov/legislation/bills/2025/S4865