2025 NYS State Budget Finalized, Includes Thoroughbred Industry Updates

The $237 billion New York State Budget for FY 2025 was finalized on April 20, according to the New York Thoroughbred Breeders organization Tuesday.

Included in the 2025 State Budget are updates related to New York's horse racing and livestock industry:

• A state-backed loan to redevelop new and improved Belmont Park.
• The Breeder Award increases to 40% for New York Sired progeny and 20% for Non-NY-Sired progeny.
• The Annual Fund Limitation Act authorizes the Breeding Fund to pay program awards as advertised.
• Groundbreaking anti-slaughter legislation with support from the entire racing industry.
• Continue to block legislation that would impose a sales tax on the purchase of purebreds sold at auction in New York.
• Protection of Racing support payments made from Video Lottery Station revenues from Resorts World Casino at the Aqueduct racetrack, ensuring increased wallet levels in New York and an overall increase in the value of The stallions are standing in New York
• Extends Pari-mutuel tariffs and Simulcast provisions for one year
• Expands the New York Jockey Injury Fund Administration through 2027
• Belmont at Saratoga Meet – Extends certain licensing flexibilities to apply to the Belmont Festival when held at Saratoga Race Course (through December 31, 2026).

For the full budget, click This.

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