New Jersey Assembly Bill A3052

New Jersey 2022-2023 Regular Session

• Introduced: 2/28/22
• Refer: 2/28/22

Caption

Increases from 3.2% to 5% percentage of certain dedicated purse moneys used for horsemen aid programs and the association from Standardbred racing at private racetracks.

Impact

The potential impact of A3052 involves a more significant financial boost for horsemen involved in Standardbred racing, promoting economic stability within the industry. The increase in the percentage dedicated to horsemen aid is meant to support those in the horse racing community, thereby contributing to the overall health and viability of the industry in New Jersey. It also seeks to ensure consistency across all racetracks operated under different governing bodies, which may enhance fairness and operational clarity.

Summary

Assembly Bill A3052 proposes to amend existing legislation concerning the allocation of certain dedicated purse moneys in the horse racing industry in New Jersey. The bill specifically seeks to raise the percentage of purse moneys that can be allocated to aid horsemen and the Standardbred Breeders' and Owners' Association from 3.2% to 5%. This amendment is intended to codify an existing agreement between the Standardbred Breeders' and Owners' Association and private Standardbred racetracks, aligning the percentages across different regulatory frameworks within the state’s horse racing operations.

Contention

While the bill aims to support horsemen and breeders, there could be contention surrounding the allocation of additional purse moneys. Those opposed to the bill might express concerns about funding sustainability, particularly in times of declining revenue from horse racing activities. Additionally, some stakeholders may argue that increasing the percentage of purse money for horsemen could divert funds from other critical areas such as public health and safety programs associated with horse racing.