This bill amends existing legislation to allow for the reallocation of standardbred horse racing purse subsidies from Freehold Raceway to Meadowlands Racetrack under specific circumstances. It stipulates that if Freehold Raceway ceases to conduct live racing programs, the New Jersey Racing Commission will redirect all funds previously allocated to Freehold overnight purses to Meadowlands overnight purses until live racing resumes at Freehold. Currently, 16 percent of the funds allocated to the standardbred industry are designated for Freehold, while 60 percent go to Meadowlands.

The bill is a response to the anticipated closure of Freehold Raceway and aims to ensure that purse subsidies continue to support active racing venues. It maintains the existing allocations for the thoroughbred industry and other standardbred programs, such as the Sire Stakes and breeder awards, without any changes. The legislation is set to take effect immediately upon passage.

Statutes affected:
Introduced: 5:5-99.1