N.Y. Tax Law § 209-n: Retired and rescued thoroughbred race horse aftercare

* § 209-N. Retired and rescued thoroughbred race horse aftercare.

Effective for any tax year commencing on or after the effective date of

this section, a taxpayer in any taxable year may elect to contribute to

the New York state thoroughbred breeding and development fund

established pursuant to section two hundred fifty-two of the racing,

pari-mutuel wagering and breeding law, for the purpose of funding the

operation of retired race horse aftercare facilities. Any contributions

made to the thoroughbred breeding and development fund pursuant to this

section shall be deposited into a dedicated account managed by the fund,

which shall solely be used for funding the operation of retired race

horse aftercare facilities, with a preference for those organizations

that are accredited horse retirement and rescue programs. Such

contribution shall be in any whole dollar amount and shall not reduce

the amount of the state tax owed by such taxpayer. The commissioner

shall include space on the corporate income tax return to enable a

taxpayer to make such contribution. Notwithstanding any other provision

of law, all revenues collected pursuant to this section shall be

credited to the New York state thoroughbred retirement race horse and

aftercare fund and shall be used only for those purposes set forth in

paragraph h of subdivision two of section two hundred fifty-four of the

racing, pari-mutuel wagering and breeding law.

* NB Effective January 1, 2022