(TRENTON) – To assist with the expansion of New Jersey’s horse racing industry, Assemblyman Ralph Caputo (D-Essex) sponsors a measure to provide supplemental funding for horse racing purse subsidies. The measure was approved by the Assembly Tourism, Gaming, and the Arts Committee on Monday.
The bill (A-6024) would provide $5 million in supplemental funding to the New Jersey Horse Racing Commission for horse racing purse subsidies. Due to federal funding from the American Rescue Plan and the increased revenue from our recovering economy, New Jersey will be able to add the supplemental funding and support the $20 million annual appropriation for racing purse subsidies established by the legislature in 2019.
Upon committee approval of the measure, Assemblyman Caputo issued the following statement:
“Horse racing is reemerging in New Jersey and reestablishing its pre-pandemic success. New Jersey’s economy continues to recover and we now have federal funding to further support the industry’s needs. With this measure, will be able to help our tracks conduct the races we enjoy and empower our horse racing industry so it can flourish.”
The measure now heads to the speaker for further consideration.