Bill > A5090

This bill modifies how horse racing purse subsidies are allocated in New Jersey if Freehold Raceway stops conducting live racing. Currently, the state appropriates $20 million annually to the New Jersey Racing Commission for horse racing purses, with 60% of the standardbred industry allocation going to Meadowlands overnight purses and 16% to Freehold overnight purses. If Freehold Raceway ceases live racing, the bill mandates that the funds previously allocated to Freehold (16%) would be immediately redirected to Meadowlands overnight purses. These reallocated funds must be specifically used to conduct at least 35 standardbred race dates that would have originally been held at Freehold Raceway. The bill allows for 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 date requirement. The bill takes effect immediately and is designed to ensure continuity of standardbred horse racing in the state if one racing venue stops operating.

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https://www.njleg.state.nj.us/bill-search/2024/A5090