New York fighting the NYRA Bankruptcy

[sumitas]

"In page after page of its motion, the state lays out a case in which it insists NYRA since 1955 has served as an arm of the state government. It notes NYRA was originally created by the state to preserve Thoroughbred racing in New York and to provide revenue to the state. Since 1955, by NYRA’s own admission, NYRA has paid more than $470 million in local taxes and more than $2.6 billion in direct taxes to the state."

It is odd that "an arm" of state government pays property taxes.