The $28 billion general fund budget for the 2010-11 fiscal year signed by Pennsylvania Gov. Ed Rendell will allow the state’s racing and breeding industries to operate at levels established in the previous year’s budget, according to the Pennsylvania Horse Breeders Association.
According to a release, no additional cuts were made to the Race Horse Development Fund, which provides the majority of purse money, breeding fund revenues, and health and pension benefits to the state’s horsemen. Total Thoroughbred Breeding Fund revenues for 2010 should be just over $18 million, using estimates based on collections over the first six months of the year, the release said.
"This is very good news for those involved in breeding and racing in the state," PHBA president Brian N. Sanfratello said in a statement. "Last year the legislature assessed RHDF for nearly $50 million, and because the budget wasn’t finalized until well after the July deadline, the assessment was then fully applied over the six month period from January through June of 2010.
"The annual assessment will continue through the end of fiscal year 2012-2013, but will be prorated to funds collected over the full 12 months each year."
Additional participation from horsemen’s purse funds at each of the state’s three tracks for Pennsylvania-bred overnight restricted race schedules should boost the total amount available for the Pennsylvania-bred program to nearly $22 million in 2010.
