Bill > S04550

This bill amends the racing, pari-mutuel wagering and breeding law to require written consent from the New York thoroughbred horsemen's association before allocating or spending funds from certain accounts. Specifically, the bill mandates that the franchised corporation or horsemen's bookkeeper cannot allocate or spend monies from designated accounts without prior written approval from a horsemen's association representing at least 51% of the horsemen using the corporation's facilities. However, the bill includes an important exception: any payment obligations already established by law from these accounts do not require additional written consent. This legislation appears aimed at giving horsemen more control over how funds are managed and spent in the thoroughbred racing industry, ensuring that a majority of horsemen using a particular facility have a say in financial decisions that may impact them directly.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4550