2023 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.