BILL NUMBER:  S3760

 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 effectiveness 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. This section of
law is scheduled to sunset on October 28, 2017. 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,
established in 1973, has helped shape the New York State thoroughbred
industry, 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 housekeeping modification that has no financial
impact on any other organization or segment of the industry.

 PRIOR LEGISLATIVE HISTORY :

2016: Similar to Chapter 255 of the Laws of 2016 (A.9125/S.6550-A).
2015: Similar to Chapter 287 of the Laws of 2015 (A.4925/S.3424).
2014: Similar to Chapter 168 of the Laws of 2014 (A.9410/S 7019).
2013: Similar to Chapter 120 of the Laws of 2013 (A.6939/S.4750).
2012: Similar to Chapter 423 of the Laws of 2012 (A.10295/S.7050).
2011: Similar to Chapter 175 of the Laws of 2011 (A.7852-A/S, 3949-B).
2010: Similar to Chapter 473 of the Laws of 2010 (A.11130-A/S 7578-A).

 FISCAL IMPLICATIONS :

None.

 EFFECTIVE DATE :
This act shall take effect immediately.