This bill amends the current law regarding the minimum number of thoroughbred horse racing dates required at Monmouth Park and Meadowlands Racetrack. Under the existing law, the permit holders are mandated to schedule at least 141 thoroughbred race dates annually, with the possibility of reducing this number to 50 with written consent from the New Jersey Thoroughbred Horsemen's Association. The proposed changes will allow for a further reduction to as few as 25 race dates if the state does not allocate any funds for the horse racing purse subsidies, or if the New Jersey Thoroughbred Horsemen's Association provides written consent. Additionally, if the state allocates less than the required $10 million for thoroughbred races but more than $5 million, the minimum number of race dates can be reduced to 40.

The bill also maintains the existing requirements for standardbred race dates at Meadowlands Racetrack and Freehold Raceway, which are set at 151 and 192 respectively, with the option to reduce to 75 upon consent from the Standardbred Breeders' and Owners' Association of New Jersey. The changes aim to provide flexibility for racetracks in response to funding availability while ensuring that the horse racing industry can adapt to financial constraints. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 5:5-156