New York Senate Bill S08351

New York 2025-2026 Regular Session

• Introduced: 6/4/25
• Refer: 6/4/25

Caption

Increases the excess limit for funds in the New York state thoroughbred breeding and development fund from seventy-five thousand dollars to five hundred thousand dollars.

Impact

The increase in the excess limit for the thoroughbred breeding and development fund is expected to significantly bolster funding for breeding activities, which can have a positive impact on the local economy by supporting breeders, trainers, and associated businesses in the racing industry. Increased funding may lead to enhanced breeding practices and ultimately contribute to the competitiveness of New York's racing sector on a national level.

Summary

Bill S08351 aims to amend the existing New York state racing, pari-mutuel wagering and breeding law by increasing the excess limit for funds in the New York state thoroughbred breeding and development fund from seventy-five thousand dollars to five hundred thousand dollars. This change is designed to enhance the financial resources available for the support and growth of thoroughbred breeding and development activities within the state, promoting the racing industry.

Contention

While the bill seems to be a step toward economic support for the thoroughbred industry, potential points of contention could arise around the allocation of these funds and the effectiveness of their use. Stakeholders might debate whether the increase in funding is justified or whether it might detract from other areas needing state financial support. Discussion might also focus on the specific mechanisms of how these funds will be managed and distributed, raising questions of accountability and transparency.