Bill Text: NJ S3921 | 2024-2025 | Regular Session | Chaptered
Bill Title: Reallocates standardbred horse racing purse subsidies from Freehold Raceway to Meadowlands Racetrack under certain circumstances.
Sponsorship: Partisan Bill (Democrat 2)
Status: (Passed) 2025-01-30 - Approved P.L.2025, c.11. [S3921 Detail]
Download: New_Jersey-2024-S3921-Chaptered.html
An Act concerning standardbred horse racing purse subsidies and amending P.L.2019, c.36.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 1 of P.L.2019, c.36 (C.5:5-99.1) is amended to read as follows:
C.5:5-99.1 Appropriation for horse racing purse subsidies.
1. There shall be appropriated out of the General Fund of the State in the current fiscal year 2019 and in each of the ten fiscal years thereafter $20,000,000 annually to the New Jersey Racing Commission to be used for horse racing purse subsidies. These amounts shall be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry. Of the funds allocated to the thoroughbred industry, 100 percent shall be allocated to Monmouth Park overnight purses. Of the funds allocated to the standardbred industry, 60 percent shall be allocated to Meadowlands overnight purses; 16 percent to Freehold overnight purses; 12 percent to the New Jersey Sire Stakes purses; 6 percent to purse bonuses for New Jersey sired horses; and 6 percent for breeders awards purses; except that, in the event that live racing programs cease to be conducted by the permit holder at Freehold Raceway, the New Jersey Horse Racing Commission shall reallocate to Meadowlands overnight purses any and all funds allocated to Freehold overnight purses pursuant to this section until such time as a permit holder resumes live racing programs at Freehold Raceway. Any funds reallocated from Freehold overnight purses to Meadowlands overnight purses pursuant to this section shall be used for the sole purpose of conducting not less than 35 standardbred race dates at the Meadowlands Racetrack that otherwise would have been conducted at Freehold Raceway. The minimum of 35 standardbred race dates as herein provided may be decreased upon agreement and written consent from the Standardbred Breeders' and Owners' Association of New Jersey, notwithstanding the requirements of section 30 of P.L.2001, c.199 (C.5:5-156).
2. This act shall take effect immediately.
Approved January 30, 2025.
