Extends the provisions relating to the New York state thoroughbred breeding and development fund until eleven years after the commencement of the operation of a video lottery terminal facility at Aqueduct racetrack.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A3466
SPONSOR: Pretlow TITLE OF BILL:
An act to amend chapter 473 of the laws of 2010 amending the racing,
pari-mutuel wagering and breeding law relating to the New York state
thoroughbred breeding and development fund, in relation to the effec-
tiveness thereof
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this legislation is to provide continued revenue and
operational flexibility to the New York State Thoroughbred Breeding and
Development Fund.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1.Amends Chapter 473 of the laws of 2010 relating to the New
York state Thoroughbred Breeding and Development Fund. Specifically, the
following provisions would be extended for an additional year:
* requiring payments to be made to the fund on a quarterly basis;
* the percentage of revenue that can be allotted to breeder awards would
be maintained at sixty-five percent (65%);
* the amount of money used for promoting the .breeding and raising of
thoroughbred horses would be increased from five percent (5%) up to six
percent (6%); and
* the amount of money used for administrative allotments from the fund
would be increased from four percent (4).up to five percent (5).
Section 2.Effective date.
JUSTIFICATION:
The New York State Thoroughbred Breeding and Development Fund, estab-
lished in 1973, has helped shape the New York State thoroughbred indus-
try, making it the benchmark of thoroughbred programs around the world.
For over two decades, the Fund has worked to make thoroughbred breeding
and racing a vital force in New York State's economy, utilizing its rich
racing tradition, vast agricultural resources, and thriving tourism
industry. The Fund is a public benefit corporation that oversees the
registration process for foals and stallions, and distributes incentive
awards to breeders, owners and stallion owners. The incentives provided
by the Fund are financed from within the racing industry, using a small
percentage of the total monies wagered through the pari-mutuel system on
thoroughbred racing in New York State.
Thoroughbred Breeders use this funding to invest back into breeding,
thereby keeping that money in the local economy and creating more jobs,
and strengthening the horse racing industry in New York. The New York
Racing and Breeding Program has evolved significantly since 1973. The
goals set out for the Fund have been well accomplished, especially in
the last decade. However, the industry has seen significant declines in
handle year after year. With that, the Fund's revenue has rapidly fallen
each year placing a burden on the ability to pay awards to participants
at advertised rates within the statutory cap as the Breeding Program has
grown. Initially enacted as Chapter 473 of the Laws of 2010, this
proposal provided some flexibility to the Thoroughbred Breeding and
Development Fund.
This law was slated to expire upon the commencement of the operation of
a video lottery facility at Aqueduct racetrack, which began operations
on October 28, 2011. The sunset of this law has been extended multiple
times. This proposal would extend those provisions for an additional
year and provide the Board of Directors of the Thoroughbred Breeding
Fund the ability to allot Fund revenue based on the current state of the
Thoroughbred industry. Additionally, this proposal is strictly a house-
keeping modification that has no financial impact on any other organiza-
tion or segment of the industry.
PRIOR LEGISLATIVE HISTORY:
2022 01/05/22 A3361 referred to racing and wagering
2020: Similar to Chapter 161 of the Laws of 2020
2019: Similar to Chapter 343 of the Laws of 2019
2018: Similar to Chapter 341 of the Laws of 2018
2017: Similar to Chapter 42 of the Laws of 2017
2016: Similar to Chapter 255 of the Laws of 2016
FISCAL IMPLICATIONS:
None to State.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
3466
2023-2024 Regular Sessions
IN ASSEMBLY
February 3, 2023
___________
Introduced by M. of A. PRETLOW -- read once and referred to the Commit-
tee on Racing and Wagering
AN ACT to amend chapter 473 of the laws of 2010 amending the racing,
pari-mutuel wagering and breeding law relating to the New York state
thoroughbred breeding and development fund, in relation to the effec-
tiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of chapter 473 of the laws of 2010 amending the
2 racing, pari-mutuel wagering and breeding law relating to the New York
3 state thoroughbred breeding and development fund, as amended by chapter
4 199 of the laws of 2022, is amended to read as follows:
5 § 2. This act shall take effect immediately, provided, however that
6 this act shall expire and be deemed repealed [twelve] thirteen years
7 after the commencement of the operation of a video lottery facility at
8 Aqueduct racetrack; provided that the chair of the New York state
9 thoroughbred breeding and development fund shall notify the legislative
10 bill drafting commission upon the occurrence of the commencement of the
11 operation of a video lottery facility at Aqueduct racetrack in order
12 that the commission may maintain an accurate and timely effective data
13 base of the official text of the laws of the state of New York in furth-
14 erance of effectuating the provisions of section 44 of the legislative
15 law and section 70-b of the public officers law[; provided further, that
16 effective]. Effective immediately the addition, amendment and/or repeal
17 of any rules or regulations necessary for the implementation of this act
18 on its effective date are authorized [and directed] to be made and
19 completed on or before such date.
20 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08167-01-3
