The New York State Budget, which was released late Friday night, includes two provisions lobbied for by New York horsemen that offer both near and long-term relief for insurance-related costs.
The budget provides the New York Jockey Injury Compensation Fund with the ability to use up to $2 million from the New York Racing Association purse cushion to offset the cost of the premium for the policy that covers jockeys and exercise riders. Under the second provision, NYRA will establish an account utilizing funds from the purse cushion that can be used by the New York Thoroughbred Horsemen’s Association as collateral for future workers’ compensation insurance programs.
“We have to thank Governor [Andrew] Cuomo and his staff, as well Senator John Bonacic and Assemblyman Gary Pretlow, for their efforts in getting these important provisions included in the budget,” NYTHA President Joe Appelbaum said. “This is an example of what NYTHA and NYRA can do when we work together, and we thank [NYRA CEO] Chris Kay for his support and collaboration on this initiative.”