Bill > S3921

This bill modifies an existing law regarding horse racing purse subsidies in New Jersey by establishing a provision that if live racing at Freehold Raceway ceases, the New Jersey Horse Racing Commission will automatically reallocate the funds previously designated for Freehold's overnight purses to Meadowlands Racetrack's overnight purses. Specifically, the bill requires that these reallocated funds must be used to conduct at least 35 standardbred race dates at Meadowlands Racetrack, which would have originally been held at Freehold. The bill allows for some flexibility in the number of race dates if the Standardbred Breeders' and Owners' Association of New Jersey provides written consent to modify the 35-race requirement. The overall annual appropriation remains $20 million, which is split equally between thoroughbred and standardbred industries, with specific percentage allocations for different racing-related purposes. This change ensures continued support for standardbred horse racing in New Jersey even if one raceway stops conducting live races.