What's happening
This bill extends the New York State thoroughbred breeding and development fund law for one additional year.
Why it matters
Extending the fund’s duration means continued financial support for New York’s thoroughbred horse breeding industry. , impacting jobs, agriculture, and local economies tied to racing and breeding activities.
The fund’s existence is directly linked to the operation of the video lottery at Aqueduct racetrack. , so this extension maintains a revenue stream for breeders and related stakeholders that could otherwise expire.
Annual renewals like this create ongoing uncertainty for industry participants. , affecting long-term planning for breeders, trainers, and farms who rely on the fund’s incentives and programs.
The bill ensures the state maintains oversight and timely updates to official laws. , supporting transparency and accurate tracking of laws that impact the racing and gaming sector.
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Who cares
Headline styles
Extend Thoroughbred Fund Deadline
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 42
1 Co-sponsor
History
- Signed chap.341
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.108
- Substituted for A9686
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 62–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.405
Show 1 earlier action
- Referred to racing, gaming 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 Expiration
Assembly Floor Calendar · Sponsor J. Gary Pretlow
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7601
IN SENATE
January 30, 2018
Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming 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.
LBD08041-02-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 473 of the laws of 2010 amend- ing 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
Purpose or general idea of bill
The purpose of this legislation is to provide continued revenue and operational flexibility to the New York State Thoroughbred Breeding and Development Fund.
Summary of specific provisions
Section 1.Amends Chapter 473 of the laws of 2010 relating to the New York state Thoroughbred Breeding and Development Fund. This section of law is scheduled to sunset on October 28, 2018. Specifically, the following provisions would be extended for an additional year:
Read the full memo (662 words)
*requiring payments to be made to the fund on a quarterly basis;
*the percentage of revenue that can be allotted to breeder awards would be maintained at sixty-five percent (65%);
*the amount of money used for promoting the breeding and raising of thoroughbred horses would be increased from five percent (5%) up to six percent (6%); and
*the amount of money used for administrative allotments from the fund would be increased from four percent (4%) up to five percent (5%).
Section 2.Effective date.
Justification
The New York State Thoroughbred Breeding and Development Fund, estab- lished in 1973, has helped shape the New York State thoroughbred indus- try, making it the benchmark of thoroughbred programs around the world. For over two decades, the Fund has worked to make thoroughbred breeding and racing a vital force in New York State's economy, utilizing its rich racing tradition, vast agricultural resources, and thriving tourism industry. The Fund is a public benefit corporation that oversees the registration process for foals and stallions, and distributes incentive awards to breeders, owners and stallion owners. The incentives provided by the Fund are financed from within the racing industry, using a small percentage of the total monies wagered through the pari-mutuel system on thoroughbred racing in New York State.
Thoroughbred Breeders use this funding to invest back into breeding, thereby keeping that money in the local economy and creating more jobs, and strengthening the horse racing industry in New York. The New York Racing and Breeding Program has evolved significantly since 1973. The goals set out for the Fund have been well accomplished, especially in the last decade. However, the industry has seen significant declines in handle year after year. With that, the Fund's revenue has rapidly fallen each year placing a burden on the ability to pay awards to participants
at advertised rates within the statutory cap as the Breeding Program has grown.
Initially enacted as Chapter 473 of the Laws of 2010, this proposal provided some flexibility to the Thoroughbred Breeding and Development Fund. This law was slated to expire upon the commencement of the opera- tion of a video lottery facility at Aqueduct racetrack, which began operations on October 28, 2011. The sunset of this law has been extended multiple times. This proposal would extend those provisions for an addi- tional year and provide the Board of Directors of the Thoroughbred Breeding Fund the ability to allot Fund revenue based on the current state of the Thoroughbred industry. Additionally, this proposal is strictly a housekeeping modification that has no financial impact on any other organization or segment of the industry.
Prior legislative history
2017: Similar to Chapter 42 of the Laws of 2017 (A.2820/S.3760). 2016: Similar to Chapter 255 of the Laws of 2016 (A.9125/S.6550-A). 2015: Similar to Chapter 287 of the Laws of 2015 (A.4925/S.3424). 2014: Similar to Chapter 168 of the Laws of 2014 (A.9410/S 7019). 2013: Similar to Chapter 120 of the Laws of 2013 (A.6939/S.4750). 2012: Similar to Chapter 423 of the Laws of 2012 (A.10295/S.7050). 2011: Similar to Chapter 175 of the Laws of 2011 (A.7852-A/S, 3949-B). 2010: Similar to Chapter 473 of the Laws of 2010 (A.11130-A/S 7578-A).
Fiscal implications
None to State.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.