Increases the excess limit for funds in the New York state thoroughbred breeding and development fund from seventy-five thousand dollars to five hundred thousand dollars.
STATE OF NEW YORK
________________________________________________________________________
8351
2025-2026 Regular Sessions
IN SENATE
June 4, 2025
___________
Introduced by Sen. ADDABBO -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
relation to the New York state thoroughbred breeding and development
fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The second undesignated paragraph of subdivision 2 of
2 section 254 of the racing, pari-mutuel wagering and breeding law, as
3 amended by chapter 18 of the laws of 2008, is amended to read as
4 follows:
5 All moneys of the fund in excess of [seventy-five] five hundred thou-
6 sand dollars on hand at the end of each calendar year shall be appor-
7 tioned between and paid to the state and the regional off-track betting
8 corporations based on the level of contributions to such fund during the
9 year by the racing corporations and the regional off-track betting
10 corporations, respectively. Payment of such money to the state and such
11 corporations, respectively, shall be made by March fifteenth of the year
12 following the close of such calendar year.
13 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13282-01-5
