What's happening
This bill extends the New York state thoroughbred breeding and development fund for eight instead of seven years after Aqueduct racetrack's video lottery facility opens.
Why it matters
Extending the fund's duration by one year could provide more stable and predictable financial support for New York's thoroughbred breeding industry, which relies on this funding for investment, jobs, and local economic activity.
The change may reflect expectations about the timeline for the Aqueduct racetrack’s video lottery operations to reach maturity, signaling lawmakers' recognition of the need for continued state support during this transition period.
By lengthening the fund, stakeholders—including breeders, trainers, and rural communities—may benefit from a longer planning horizon for business operations, infrastructure projects, and workforce development.
This extension could also impact related state revenues and local economies, as the thoroughbred industry generates tourism, tax income, and ancillary business in the region.
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Who cares
Headline styles
Extend Thoroughbred Fund Expiration
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Substituted by S7601
- Rules report cal.108
- Reported
- Reported referred to rules
- Reported referred to ways and means
- Referred to racing and wagering
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Extend Thoroughbred Fund Deadline
Signed by Governor · Sponsor John J. Bonacic
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9686
IN ASSEMBLY
February 2, 2018
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Racing and Wagering
AN ACT to amend chapter 473 of the laws of 2010 amending the racing, pari-mutuel wagering and breeding law relating to the New York state thoroughbred breeding and development fund, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 2 of chapter 473 of the laws of 2010 amending the racing, pari-mutuel wagering and breeding law relating to the New York state thoroughbred breeding and development fund, as amended by chapter 42 of the laws of 2017, is amended to read as follows:
§ 2. This act shall take effect immediately, provided, however that this act shall expire and be deemed repealed [seven] eight years after the commencement of the operation of a video lottery facility at Aqueduct racetrack; provided that the chair of the New York state thoroughbred breeding and development fund shall notify the legislative bill drafting commission upon the occurrence of the commencement of the operation of a video lottery facility at Aqueduct racetrack in order that the commission may maintain an accurate and timely effective data base of the official text of the laws of the state of New York in furtherance of effectuating the provisions of section 44 of the legislative law and section 70-b of the public officers law; provided further, that effective immediately the addition, amendment and/or repeal of any rules or regulations necessary for the implementation of this act on its effective date are authorized and directed to be made and completed on or before such date.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14588-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.