§ 509-a. Capital acquisition fund. 1. The corporation may create and\nestablish a capital acquisition fund for the purpose of financing the\nacquisition, construction or equipping of offices, facilities or\npremises of the corporation. Such capital acquisition fund shall consist\nof (i) the amounts specified pursuant to subdivision three-a of section\nfive hundred thirty-two of this chapter; and (ii) contributions from the\ncorporation's pari-mutuel wagering pools, subject to the following\nlimitations:\n a. no contribution shall exceed the amount of one percent of the total\npari-mutuel wagering pools for the quarter in which the contribution is\nmade;\n b. no contribution shall reduce the amount of quarterly net revenues,\nexclusive of surcharge revenues, to an amount less than fifty percent of\nsuch net revenues; and\n c. the balance of the fund shall not exceed the lesser of one percent\nof total pari-mutuel wagering pools for the previous twelve months or\nthe undepreciated value of the corporation's offices, facilities and\npremises.\n 2. a. Notwithstanding any other provision of law or regulation to the\ncontrary, from April nineteenth, two thousand twenty-one to March\nthirty-first, two thousand twenty-two, twenty-three percent of the\nfunds, not to exceed two and one-half million dollars, in the Catskill\noff-track betting corporation's capital acquisition fund and\ntwenty-three percent of the funds, not to exceed four hundred forty\nthousand dollars, in the Capital off-track betting corporation's capital\nacquisition fund established pursuant to this section shall also be\navailable to such off-track betting corporation for the purposes of\nstatutory obligations, payroll, and expenditures necessary to accept\nauthorized wagers.\n b. Notwithstanding any other provision of law or regulation to the\ncontrary, from April first, two thousand twenty-two to March\nthirty-first, two thousand twenty-three, twenty-three percent of the\nfunds, not to exceed two and one-half million dollars, in the Catskill\noff-track betting corporation's capital acquisition fund established\npursuant to this section, and twenty-three percent of the funds, not to\nexceed four hundred forty thousand dollars, in the Capital off-track\nbetting corporation's capital acquisition fund established pursuant to\nthis section, shall be available to such off-track betting corporations\nfor the purposes of statutory obligations, payroll, and expenditures\nnecessary to accept authorized wagers.\n c. Notwithstanding any other provision of law or regulation to the\ncontrary, from April first, two thousand twenty-three to March\nthirty-first, two thousand twenty-four, twenty-three percent of the\nfunds, not to exceed two and one-half million dollars, in the Catskill\noff-track betting corporation's capital acquisition fund established\npursuant to this section, and one million dollars in the Capital\noff-track betting corporation's capital acquisition fund established\npursuant to this section, shall be available to such off-track betting\ncorporation for the purposes of expenditures necessary to accept\nauthorized wagers; past due statutory obligations to New York licensed\nor franchised racing corporations or associations; past due contractual\nobligations due to other racing associations or organizations for the\ncosts of acquiring a simulcast signal; past due statutory payment\nobligations due to the New York state thoroughbred breeding and\ndevelopment fund corporation, agriculture and New York state horse\nbreeding development fund, and the Harry M. Zweig memorial fund for\nequine research; and past due obligations due the state.\n d. Notwithstanding any other provision of law or regulation to the\ncontrary, from April first, two thousand twenty-four to March\nthirty-first, two thousand twenty-five, twenty-three percent of the\nfunds, not to exceed two and one-half million dollars, in the Catskill\noff-track betting corporation's capital acquisiti
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