NY Rac, Pari-Mut Wag & Breeding L § 115-B (2021)
2021 New York Laws PML - Racing, Pari-Mutuel Wagering and Breeding Law Article 1 - Supervision and Regulation 115-B - Market Origin Credits.

§ 115-b. Market origin credits. 1. Notwithstanding any other provision of  law  to  the  contrary,  any  racing  associations and corporations, franchised corporations, and off-track betting corporations that makes a payment of the regulatory fees imposed by this chapter may  reduce  such payment by an amount equal to the market origin credit allocated to such racing  association or corporation, franchised corporation, or off-track betting corporation by the commission.  The  commission  shall  allocate credits in an amount equal to ninety percent of the amount received from the  market  origin  fee paid pursuant to subdivision six of section one thousand twelve-a of this chapter for the period from the sixteenth  day of  the  preceding month through the fifteenth day of the current month. The commission shall notify participants of allocations on or before the twentieth day of the current month.   2. The commission shall allocate credits to  racing  associations  and corporations,    franchised    corporations,   and   off-track   betting corporations in the following amounts:   a. Forty percent of the amount received from  the  market  origin  fee paid  pursuant  to  subdivision  six of section one thousand twelve-a of this chapter to regional off-track betting corporations. Allocations  to individual  regional  off-track betting corporations shall be made based on a ratio where the  numerator  is  the  regional  corporation's  total in-state  handle  for  the  previous  calendar year as calculated by the commission and the denominator is the total in-state handle of  all  the regional  off-track  betting corporations for the previous calendar year as calculated by the commission;   b. Fifty percent of the amount received from  the  market  origin  fee paid  pursuant  to  subdivision  six of section one thousand twelve-a of this chapter to the racing associations and corporations and  franchised corporations.   Allocations   to   individual  racing  associations  and corporations and franchised corporations shall be made as follows:  (i) Sixty percent to thoroughbred racing associations  and  franchised corporations. Five-sixths shall be allocated to a franchised corporation and one-sixth shall be allocated to a thoroughbred racing association.  (ii)  Forty  percent  to harness racing associations and corporations. Allocations to individual harness racing associations  and  corporations shall  be made based on a ratio where the numerator is the association's or corporation's total in-state handle on live racing for  the  previous calendar year as calculated by the commission and the denominator is the total  in-state  on  live handle for all harness racing associations and corporations for  the  previous  calendar  year  as  calculated  by  the commission.   3.  As  a  condition  for  any  racing  association  or corporation or franchised corporation to claim any market origin credits  allocated  to it,  such  racing  association  or corporation or franchised corporation must make payments for moneys otherwise to be used to pay the regulatory fee as follows:  (i) Payment of an amount equal  to  forty  percent  of  the  allocated credits  into an account used solely for the purpose of enhancing purses at such racing association or  corporation  or  franchised  corporation. Such payment shall be made within five days from receipt of notification of  an  allocation  by  the commission of an allocation of market origin credits;  (ii) Payment of an amount equal to twenty  percent  of  the  allocated credits  to the state's breeding funds. Sixty percent of the payments to the breeding funds shall be allocated to the New York state thoroughbred breeding  and  development  fund  corporation  established  pursuant  to section  two hundred fifty-two of this chapter, and forty percent to the agriculture  and  New  York  state  horse  breeding   development   fund  established  pursuant  to  section three hundred thirty of this chapter. Such payment shall be made within five days from receipt of notification of an allocation by the commission of an  allocation  of  market  origin credits.   4. The commission shall promulgate any rules and regulations necessary for the administration of the market origin credit.