N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 330: Agriculture and New York state horse breeding development fund

§ 330. Agriculture and New York state horse breeding development fund.

1. There is hereby created within the state gaming commission the

"agriculture and New York state horse breeding development fund". Such

fund shall be a body corporate and politic constituting a public benefit

corporation. It shall be administered by a board of directors consisting

of the chair of the commission or his or her designee, the commissioner

of agriculture and markets, and three members appointed by the governor,

all of whom are experienced or have been actively engaged in the

breeding of standardbred horses in New York state, one upon the

recommendation of the temporary president of the senate and one upon the

recommendation of the speaker of the assembly. The governor shall

designate the chair from among the sitting members of such board of

directors, who shall serve as such at the pleasure of the governor.

Appointed members shall serve for a term of four years and shall

continue to hold office until their successors are appointed and

qualified. The members of the board of directors of the fund shall

receive no compensation from the fund for their services as such members

but shall be reimbursed by the fund for the expenses actually and

necessarily they incur in the performance of their duties under sections

two hundred twenty-two through seven hundred five of this chapter. Such

fund shall have perpetual existence and shall exercise all powers

authorized by this chapter and reasonably necessary for accomplishing

its purposes. Such powers shall be exercised in the name of the fund.

2. The board of directors of the fund may delegate to one or more of

the members or officers of the fund such powers and duties as it may

deem proper and shall use, pursuant to a contract or memorandum of

understanding approved by the director of the budget, the service

employees of the commission and the state office of racing promotion and

development.

3. The fund is created in order that it may promote the breeding of

horses and the conduct of equine research in this state on its own

responsibility and under its own business management. The policy, good

faith and interest of the state are concerned with the management and

development of the fund and are committed to promotion of horse breeding

and equine research in this state in active cooperation with the fund.

The promotion and encouragement of equine research shall be through a

fund of a land grant university within this state with a regents

approved veterinary college facility. Nothing herein, however, shall be

deemed in any way to obligate the state to any bondholder or other

creditor of the fund.

4. The fund is directed to report annually, on or before January

thirty-first, to the governor and the legislature, on the state of the

standardbred breeding industry in this state. Such reports shall

include, but not be limited to, the impact of the fund's programs on the

breeding and racing aspects of the industry; economic factors affecting

the industry such as employment and employment growth, state and local

benefits of breeding farms, income and the production of income within

this state, economic comparisons with other states; and data relative to

mares and stallions standing in this state to include such information

as the number in this state, racing quality as measured by wins and

stakes won and placed and money won, the number of foals and foal racing

quality as measured by sales value and number of starts, races and money

won, the progeny quality, including earnings, and the success of New

York-breds nationally.

5. The fund is further directed to incorporate into its reports

comments from spokesmen representing all segments of the industry as

well as recommendations on preserving and enhancing the standardbred

breeding industry in this state.