SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 3621

with committee amendments

STATE OF NEW JERSEY

DATED: JUNE 24, 2026

      The Senate Budget and Appropriations Committee reports favorably and with committee amendments Senate Bill No. 3621.

      Under current law, the permit holder at Monmouth Park and the thoroughbred permit holder at Meadowlands Racetrack together are required to hold at least 141 thoroughbred race dates in order to maintain eligibility for their horse racing permits, but can reduce the number of thoroughbred race dates to no fewer than 50 with written consent from the New Jersey Thoroughbred Horsemen's Association.  Current law also provides that the State will subsidize horse racing purses in New Jersey with $20 million in annual funds, $10 million of which goes to thoroughbred races.

      As amended by the committee, this bill will allow the racetracks to reduce the number of thoroughbred race dates to no fewer than 25, upon the written consent of the New Jersey Thoroughbred Horsemen's Association.  The bill also allows the racetracks to reduce the number of thoroughbred race dates to no fewer than 25 if less than $5 million is allocated to the thoroughbred industry in the State’s annual appropriations act.  If the annual appropriations act provides more than $5 million, but less than the $10 million currently required by law for the thoroughbred industry, then the bill allows the racetracks to reduce the number of thoroughbred race dates to no fewer than 40. 

COMMITTEE AMENDMENTS:

      The committee amendments provide that the racetracks may reduce the number of annual thoroughbred race dates to no fewer than 40 such race dates, if the State’s annual appropriations act includes more than $5 million but less than $10 million.

FISCAL IMPACT:

      This bill has not been certified as requiring a fiscal note.