New Jersey lawmakers vote to keep purse subsidy through 2029

The state of New Jersey has extended a purse subsidy package that will provide $20 million in purse funding each year through 2029 across Thoroughbred and harness racing.

Bill A2610 passed unanimously in both houses of the New Jersey legislature Friday: 76-0 in the assembly and 40-0 in the senate. The vote was previously reported by T.D. Thornton of Thoroughbred Daily News.

The bill means that New Jersey will subsidize horse racing purses in the state by $20 million per year through 2029. $10 million is earmarked for Thoroughbred purses, all of which is allocated to Monmouth Park. The other $10 million will go to Standardbred tracks in the state: 60 percent to Meadowlands, 16 percent to Freehold, 12 percent to New Jersey Sire Stakes, six percent to New Jersey-sired purse bonuses and 6 percent for breeders’ awards.

The original subsidy bill began in 2019 and was scheduled to last four years. An extension to subsidize purses in 2024 was previously approved. The bill that passed both houses Friday amends the law to extend the purse subsidies through 2029. Though New Jersey governor Phil Murphy did not sign a similar bill after it passed both houses in January, it was one of a dozen spending bills with broad legislative support that he pocket vetoed at the time.

Dennis Drazin, the chairman and CEO of Monmouth Park manager Darby Development, told Thoroughbred Daily News at the time that Murphy did not believe spending bills like the purse subsidy should be rushed through at the end of a lame-duck session. According to the TDN report on Friday, Murphy is expected to sign the purse subsidy bill now that it has passed a regular session.