This bill amends the current law regarding the minimum number of thoroughbred horse racing dates required by the permit holders at Monmouth Park and Meadowlands Racetrack. Under the existing law, these permit holders must schedule at least 141 thoroughbred race dates annually but can reduce this number to 50 with the written consent of the New Jersey Thoroughbred Horsemen's Association. The proposed changes will allow for further reductions: to 25 race dates if the state does not allocate any funds for horse racing purse subsidies, or to 40 race dates if the allocated funds are less than the required $10 million but more than $5 million.

Additionally, the bill maintains the requirement for standardbred permit holders at Meadowlands Racetrack and Freehold Raceway to schedule a minimum of 151 and 192 standardbred race dates, respectively, with similar provisions for reductions upon consent from the Standardbred Breeders' and Owners' Association of New Jersey. The bill aims to provide flexibility for racetracks in response to funding availability while ensuring that the horse racing industry can adapt to changing financial circumstances.

Statutes affected:
Introduced: 5:5-156