New York Breeding Fund Would Get $7 Million
Updated: Monday, March 26, 2001 3:11 PM
Posted: Monday, March 26, 2001 3:11 PM
A plan by Republicans in the New York Senate would pump an additional $7 million into the state's Thoroughbred breeding fund.
Under a budget proposal made by Senate Majority Leader Joseph Bruno, an upstate Republican who has held interests in Thoroughbreds, the state's tax on pari-mutuel wagers on Thoroughbred races would be reduced by 0.25%. In turn, the $7 million saved would be funneled to the breeding fund, which gives various incentives for horses bred and raced in New York.
"We want to keep the breeders fund strong and strengthen the breeding industry in New York state," said Mark Hansen, a Bruno spokesman.
Though no state budget has been adopted, the plan by Bruno is all but assured of passage, sources said. Bruno has steered money to the fund in the past.
The New York State Thoroughbred Breeding and Development Fund was created in 1973 and today provides about $35 million a year in incentives to New York-bred horses.
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