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![]() Gov Cuomo Executive Budget Proposal:
Racing Purse Surcharge. Currently, the Racing and Wagering Board’s Regulation of Racing Account operates at a deficit, necessitating loans from the State’s taxpayer-financed General Fund in order to maintain the Board’s regulatory activities that are directly related to the conduct of horse racing. The Executive Budget includes legislation to establish a two and three quarters percent surcharge on purses for all horse races conducted within the State. Moneys from this surcharge will be directly deposited in the Regulation of Racing account, which, when combined with cost containment actions undertaken by the Racing Board, will eliminate the account’s deficit and will ensure that the cost for the Board’s regulatory activities are fully borne by the Racing Industry rather than by taxpayers.
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