609-A - Capital Acquisition Fund.

NY Rac, Pari-Mut Wag & Breeding L § 609-A (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) no contribution shall exceed the amount of one percent of the total pari-mutuel wagering pools for the quarter in which the contribution is made;

(2) no contribution shall reduce the amount of quarterly net revenues, exclusive of surcharge revenues, to an amount less than fifty percent of such net revenues; and

(3) the balance of the fund shall not exceed the lesser of one percent of total pari-mutuel wagering pools for the previous twelve months or the undepreciated value of the corporation's offices, facilities and premises.