A 8838: 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.

  
  STATE OF NEW YORK ________________________________________________________________________ 8838 2025-2026 Regular Sessions  IN ASSEMBLY June 9, 2025 ___________ Introduced by M. of A. WOERNER -- read once and referred to the Commit- tee on Racing and Wagering AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to increasing the limit on the balance of the New York state thoroughbred breeding and development fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The second undesignated paragraph of subdivision 2 of 2 section 254 of the racing, pari-mutuel wagering and breeding law, as 3 amended by chapter 18 of the laws of 2008, is amended to read as 4 follows: 5 All moneys of the fund in excess of [seventy-five] five hundred thou- 6 sand dollars on hand at the end of each calendar year shall be appor- 7 tioned between and paid to the state and the regional off-track betting 8 corporations based on the level of contributions to such fund during the 9 year by the racing corporations and the regional off-track betting 10 corporations, respectively. Payment of such money to the state and such 11 corporations, respectively, shall be made by March fifteenth of the year 12 following the close of such calendar year. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13199-01-5