Assembly BillIntroduced
A 5940: Allows off-track betting corporations to set up special reserve funds to use as an alternative to current capital acquisition funds.
What A 5940 does, verified January 8, 2026
The bill aims to amend the racing, pari-mutuel wagering and breeding law to allow off-track betting corporations to set up special reserve funds. A special reserve fund can be created to make statutory payments to New York state entities, including payments to state tracks. The fund must consist of one percent of the total pari-mutuel wagering pools for the quarter in which the contribution is made. The contribution to the special reserve fund cannot reduce the quarterly net revenues to less than fifty percent of such net revenues. The balance of the fund cannot exceed one percent of the total pari-mutuel wagering pools for the previous twelve months or the undepreciated value of the corporation's offices, facilities, and premises. The bill takes effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to racing and wagering (2026-01-07)Alert me
Quick answers about A 5940
- What is the current status of A 5940?
- As of January 8, 2026, A 5940 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to racing and wagering".
- Did A 5940 pass?
- Not yet. A 5940 has been introduced and has not passed either house.
- Who wrote A 5940, and where is it now?
- A 5940 was authored by Asm. Carrie Woerner. Its committee of record is Assembly Racing & Wagering.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to racing and wagering |
| Feb. 25, 2025 | referred to racing and wagering |
Latest bill textIntroduced version, February 25, 2025 · 351 words
STATE OF NEW YORK ________________________________________________________________________ 5940 2025-2026 Regular Sessions IN ASSEMBLY February 25, 2025 ___________ Introduced by M. of A. WOERNER -- read once and referred to the Commit- tee on Racing and Wagering AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to allowing off-track betting corporations to set up special reserve funds The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The racing, pari-mutuel wagering and breeding law is 2 amended by adding a new section 509-b to read as follows: 3 § 509-b. Special reserve fund. The corporation may create and estab- 4 lish a special reserve fund for the purpose of making any statutory 5 payments to any New York state entity as required by law, including 6 payments to New York state tracks. Such special reserve fund shall 7 consist of the amounts specified pursuant to subdivision three-a of 8 section five hundred thirty-two of this chapter. No such one percent 9 contribution may be made to the special reserve fund if such one percent 10 contribution is made to the capital acquisition fund under section five 11 hundred nine-a of this article. If such one percent contribution is 12 made to the special reserve fund: 13 1. such contribution shall not exceed the amount of one percent of the 14 total pari-mutuel wagering pools for the quarter in which such contrib- 15 ution is made; 16 2. such contribution shall not reduce the amount of quarterly net 17 revenues, exclusive of surcharge revenues, to an amount less than fifty 18 percent of such net revenues; and 19 3. the balance of such fund shall not exceed the lesser of one percent 20 of total pari-mutuel wagering pools for the previous twelve months, or 21 the undepreciated value of the corporation's offices, facilities, and 22 premises. 23 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09414-01-5
Text of A 5940 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions