Cuomo: Proposed New York Tax Hike Will Develop ‘Self-Supported’ Racing Regulation

by | 01.21.2014 | 7:05pm

In a budget plan unveiled on Jan. 21, New York Gov. Andrew Cuomo is calling for a $2 million tax increase for tracks, off-track betting, and simulcast operations to fund the industry's regulating agency. Cuomo calls the move a way to “ensure that regulation of this industry becomes self-supporting.”

Additionally, the state's Gaming Commission budget will jump about $8 million for the upcoming fiscal year, partly due to staff increases to regulate casino gambling in the state.

If passed, the budget would also start market origin fees for out-of-state ADWs on wagers placed by New York residents. The fees would be applied as credits agains the racing regulatory fee charged to New York tracks and OTB facilities.

Read more at The Blood-Horse

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