Bill > S08351

This bill amends the New York state racing, pari-mutuel wagering and breeding law by increasing the excess funds limit for the New York state thoroughbred breeding and development fund from $75,000 to $500,000. Currently, any money in the fund exceeding $75,000 at the end of each calendar year is apportioned between the state and regional off-track betting corporations based on their contributions to the fund during that year. Under this proposed change, the threshold for distributing excess funds will be raised to $500,000, meaning more money can remain in the fund before being redistributed. The payments to the state and corporations must still be made by March 15th of the following year. This change could potentially provide more financial stability to the thoroughbred breeding and development fund by allowing a larger financial buffer to remain in the fund at year-end.

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https://www.nysenate.gov/legislation/bills/2025/S8351