1012 - Telephone accounts and telephone wagering. - New York Statutes

* § 1012. Telephone accounts and telephone wagering. Any regional off-track betting corporation, and any franchised corporation, harness, thoroughbred, quarter horse racing association or corporation licensed to conduct pari-mutuel racing may maintain telephone betting accounts for wagers placed on races and special events offered by such corporation or association. 1. Any regional off-track betting corporation and any franchised corporation, harness, thoroughbred, quarter horse racing association or corporation licensed to conduct pari-mutuel racing may require a minimum account balance in an amount to be determined by such entity. 2. a. Any regional off-track betting corporation may suspend collection of the surcharge imposed under section five hundred thirty-two of this chapter on winning wagers placed in telephone accounts maintained by such regional corporation. b. In a city of one million or more any regional off-track betting corporation, with the approval of the mayor of such city, may suspend collection of the surcharge imposed under section five hundred thirty-two of this chapter in winning wagers placed in telephone accounts maintained by such regional corporation. 3. Any telephone account maintained by a regional off-track betting corporation, franchised corporation, harness, thoroughbred, quarter horse association or corporation, with inactivity for a period of three years shall be forfeited and paid to the commissioner of taxation and finance. Such amounts when collected shall be paid by the commissioner of taxation and finance into the general fund of the state treasury. 4. The maintenance and operation of such telephone accounts provided for in this section shall be subject to rules and regulations of the state racing and wagering board. The board shall include in such regulation a requirement that telephone account information pertaining to surcharge and nonsurcharge telephone accounts shall be separately reported. 4-a. For the purposes of this section, "telephone betting accounts" and "telephone wagering" shall mean and include all those wagers which utilize any wired or wireless communications device, including but not limited to wireline telephones, wireless telephones, and the internet, to transmit the placement of wagers on races and special events offered by any regional off-track betting corporation, and any harness, thoroughbred, quarter horse racing association or corporation licensed or franchised to conduct pari-mutuel racing in New York state. 5. The provisions of this section shall expire and be of no further force and effect after June thirtieth, two thousand eleven. * NB Expires June 30, 2011