New Jersey Gov. Phil Murphy has signed legislation extending the $20 million annual purse enhancement for horse racing in the state, with the appropriation now scheduled to run through to the state’s fiscal year in 2029.
Monmouth Park will receive $10 million annually for purses, with the remaining $10 million going toward purses for Standardbred racing at the Meadowlands Racetrack and Freehold Raceway.
The legislation passed 76-0 in the Assembly and 40-0 in the Senate earlier this year.
“While I am pleased to sign this bipartisan legislation, it is important to recognize that one legislature cannot bind future legislatures with respect to prospective appropriations,” Murphy said in a statement. “The appropriations clause of the New Jersey Constitution mandates that the Legislature must provide for annual appropriations ‘in one general appropriation law covering one and the same fiscal year.’
“Given the critical importance of the horse racing industry to not only the state’s economy, but to farmland and open space preservation, I am signing this legislation to signal my desire for the state to continue to make this investment each year at the level directed in the bill,” Murphy later continued. “However, the investment amount made each year must be evaluated and ultimately determined by the State’s overall fiscal condition at that time. With these economic and legal realities in mind, I look forward to working with my partners in the Legislature to ensure that this key sector of the State’s economy is supported going forward in a fiscally responsible manner that satisfies our shared constitutional obligations to enact a single appropriations law governing overall State spending needs for a single fiscal year. “
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He added that the appropriations the bill purports to require through 2029 are not binding and serve only as a strong expression of intent to provide future funding.
“We’re grateful for the ongoing support for horse racing shown by Gov. Murphy and the state’s legislators,” said Dennis Drazin, chairman and CEO of Darby Development, the operator of Monmouth Park. “We’re in a very competitive market in the Northeast, where purse structure is vital to attracting top horses and putting on the highest quality product we can. This added purse money keeps us on solid footing to continue to offer first-class racing to fans.”
The original legislation designating the purse enhancement for racing was signed by Gov. Murphy in February 2019. That includes $20 million for purses already appropriated for the state’s fiscal year 2025.
This press release has been edited for content and style by BloodHorse Staff.
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