New York state budget

2025 NYS State Budget Finalized, Includes Thoroughbred Industry Updates

The New York State Budget for the 2025 fiscal year totaling $237 billion was finalized Apr. 20, according to the New York Thoroughbred Breeders Tuesday. Included among the 2025 State Budget includes updates pertaining to New York's horse racing and breeding industry: A state-backed loan for the redevelopment of a new and improved Belmont Park. Increased Breeder Awards offering up to 40% for New York Sired progeny and 20% for Non-NY-Sired progeny. Annual Fund Caps legislation that allows the Breeding Fund to payout program awards as advertised. Groundbreaking anti-slaughter legislation...

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Belmont Park Construction Loan Part of Finalized NY Budget

The 2024 New York budget bills approved by Governor Kathy Hochul and the State Senate and Assembly and released to the public Monday includes authorization for the New York Racing Association to utilize a $455-million loan to build new Thoroughbred racing facilities at Belmont Park. With the state approval, NYRA plans construction of a new building that will completely replace the existing grandstand and clubhouse. The current 1.25-million sq foot structure, which was last renovated in 1968, will be replaced with a roughly 275,000-sq ft facility featuring modern amenities and...

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