NY A08698

Amends the racing, pari-mutuel wagering and breeding law to extend the two percent withholding rate on purses for the franchised corporation through August 31, 2015 (previously set to expire August 31, 2014).

Requires the New York State Gaming Commission to mandate that franchised corporations and other corporations withhold purses and pay them to eligible horsemen's organizations representing at least 51 percent of owners and trainers.

Obligates horsemen's organizations to spend up to one-half of one percent of withheld funds to acquire and maintain equipment for steroid testing programs at a state college with an approved equine science program.

Requires horsemen's organizations to annually allocate funds determined by their board of directors to benevolence programs supporting backstretch employee services.

Takes effect immediately upon enactment.