Prohibits mobile sports wagering operators, including parent companies or subsidiaries thereof, from being eligible to receive the excelsior jobs program credit.
Impact
The bill is positioned to potentially reshape the strategic landscape for economic development in New York. By excluding mobile sports wagering operators from receiving tax credits under the Excelsior Jobs Program, it conveys a message prioritizing the type of businesses that are eligible for state subsidies. The exclusion could detract from the competitive positioning of mobile sports betting enterprises within the state's broader economic framework, aiming instead to foster growth in more conventional sectors like manufacturing, technology, and sustainable industries. Such implications hint at a regulatory environment that is cautiously managing the intersection of gambling and economic policy.
Summary
Bill A10513 proposes an amendment to the economic development law that specifically prohibits mobile sports wagering operators, along with their parent companies and subsidiaries, from qualifying for the Excelsior Jobs Program credit. This legislative measure indicates a clear stance on not extending state financial incentives to gambling-related enterprises in the mobile sports wagering sector. By doing so, the bill aims to influence the landscape of economic support provided by the state, directing available resources towards businesses deemed more aligned with traditional economic development goals.
Contention
While the bill might be driven by a desire to regulate the burgeoning area of mobile gambling, it could also spark controversies regarding economic equity. Critics may argue that these incentives could have facilitated job creation and economic advancement in a sector that is increasingly popular and lucrative. The choice to bar mobile sports wagering operators from accessing the Excelsior Jobs Program could be seen as a setback for economic diversification efforts. Proponents, however, might assert that it reinforces the state's commitment to responsible gambling practices and the prudent allocation of taxpayer funds.
Same As
Prohibits mobile sports wagering operators, including parent companies or subsidiaries thereof, from being eligible to receive the excelsior jobs program credit.
Prohibits mobile sports wagering operators and mobile sports wagering platforms from allowing more than five deposits from an authorized sports bettor in a twenty-four hour period.
Prohibits mobile sports wagering operators from enabling or otherwise permitting authorized sports bettors to deposit or withdraw funds to or from their account through gift certificates, open loop gift certificates, or e-wallets.
Prohibits mobile sports wagering operators from providing certain incentives to individuals for certain actions that tend to increase gambling activities.
Prohibits mobile sports wagering operators from providing certain incentives to individuals for certain actions that tend to increase gambling activities.
Prohibits mobile sports wagering operators from imposing any condition requiring an authorized sports bettor to wager deposited funds as a prerequisite to withdrawing such funds.
Provides that mobile sports wagering operators and mobile sports wagering platforms are prohibited from limiting the size and frequency of deposits or wagers of authorized sports bettors because the bettor obtains financial benefit or due to the bettor's waging activity; provides exceptions for suspicious wagering activity and indications of a gambling disorder; requires such operators and platforms to provide electronic written notice when an authorized sports bettor is limited or banned.
Includes certain companies engaging in hospitality or tourism which primarily promote the sale, marketing, production, harvesting, or use of certain agricultural products or food or drinks in the excelsior jobs program.
Requires mobile sports wagering operators to submit anonymized data to the gaming commission; authorizes the gaming commission to share such data for the purposes of studying the impact of mobile sports wagering on problem gambling.
Includes certain companies engaging in hospitality or tourism which primarily promote the sale, marketing, production, harvesting, or use of certain agricultural products or food or drinks in the excelsior jobs program.