§ 330. Agriculture and New York state horse breeding development fund.
1. There is hereby created within the state gaming commission the
"agriculture and New York state horse breeding development fund". Such
fund shall be a body corporate and politic constituting a public benefit
corporation. It shall be administered by a board of directors consisting
of the chair of the commission or his or her designee, the commissioner
of agriculture and markets, and three members appointed by the governor,
all of whom are experienced or have been actively engaged in the
breeding of standardbred horses in New York state, one upon the
recommendation of the temporary president of the senate and one upon the
recommendation of the speaker of the assembly. The governor shall
designate the chair from among the sitting members of such board of
directors, who shall serve as such at the pleasure of the governor.
Appointed members shall serve for a term of four years and shall
continue to hold office until their successors are appointed and
qualified. The members of the board of directors of the fund shall
receive no compensation from the fund for their services as such members
but shall be reimbursed by the fund for the expenses actually and
necessarily they incur in the performance of their duties under sections
two hundred twenty-two through seven hundred five of this chapter. Such
fund shall have perpetual existence and shall exercise all powers
authorized by this chapter and reasonably necessary for accomplishing
its purposes. Such powers shall be exercised in the name of the fund.

2. The board of directors of the fund may delegate to one or more of
the members or officers of the fund such powers and duties as it may
deem proper and shall use, pursuant to a contract or memorandum of
understanding approved by the director of the budget, the service
employees of the commission and the state office of racing promotion and
development.

3. The fund is created in order that it may promote the breeding of
horses and the conduct of equine research in this state on its own
responsibility and under its own business management. The policy, good
faith and interest of the state are concerned with the management and
development of the fund and are committed to promotion of horse breeding
and equine research in this state in active cooperation with the fund.
The promotion and encouragement of equine research shall be through a
fund of a land grant university within this state with a regents
approved veterinary college facility. Nothing herein, however, shall be
deemed in any way to obligate the state to any bondholder or other
creditor of the fund.

4. The fund is directed to report annually, on or before January
thirty-first, to the governor and the legislature, on the state of the
standardbred breeding industry in this state. Such reports shall
include, but not be limited to, the impact of the fund's programs on the
breeding and racing aspects of the industry; economic factors affecting
the industry such as employment and employment growth, state and local
benefits of breeding farms, income and the production of income within
this state, economic comparisons with other states; and data relative to
mares and stallions standing in this state to include such information
as the number in this state, racing quality as measured by wins and
stakes won and placed and money won, the number of foals and foal racing
quality as measured by sales value and number of starts, races and money
won, the progeny quality, including earnings, and the success of New
York-breds nationally.

5. The fund is further directed to incorporate into its reports
comments from spokesmen representing all segments of the industry as
well as recommendations on preserving and enhancing the standardbred
breeding industry in this state.