Purpose

This bill would set up a funding program to support the Minnesotabred Thoroughbred horse racing industry. It appropriates money to the Minnesota Racing Commission to help with purses and to provide financial support to breeders and race owners. The goal is to promote, encourage, and sustain statewide breeding and racing of Minnesotabred Thoroughbreds, particularly for races held exclusively for these horses.

Main Provisions

• An appropriation of 2,000,000 dollars in fiscal year 2027 to the Minnesota Racing Commission.
• The funds are to supplement purses for races held exclusively for Minnesotabred Thoroughbreds.
• The funds may be used to provide grants, loans, and other financial incentives to breeders and owners.
• The overarching aim is to promote, encourage, and support the Minnesotabred Thoroughbred industry within Minnesota and to encourage breeding and racing of Thoroughbreds.
• The appropriation is available through June 30, 2029.

Significance and Changes to Law

• Introduces a new funding pathway specifically for Minnesotabred Thoroughbreds within the state’s parimutuel horse racing framework.
• Creates an ongoing financial mechanism (grants, loans, and incentives) to support breeders and owners, expanding state involvement in the industry beyond existing programs.

Fiscal and Implementation Details

• Amount: 2,000,000 dollars for FY 2027.
• Agency: Minnesota Racing Commission.
• Duration: Funds available until June 30, 2029.
• Scope: Applies to races exclusively for Minnesotabred Thoroughbreds and to activities that support breeding and racing of Minnesotabreds.

Beneficiaries

• Breeders of Minnesotabred Thoroughbreds.
• Owners of Minnesotabred Thoroughbreds.
• Races and events featuring Minnesotabred Thoroughbreds.

Relevant Terms parimutuel horse racing Minnesotabred Thoroughbred Minnesota Racing Commission purses grants loans financial incentives breeders owners races held exclusively for Minnesotabred Thoroughbreds appropriation fiscal year 2027 June 30, 2029