NY S07745

Authorizes the New York Jockey Injury Compensation Fund, Inc. to use up to $2 million from a separate account in 2018 to pay annual costs, with these amounts not counting against the 2% purse deduction limit for owners.

Requires franchised racing corporations to establish and maintain a separate trust account for funds held on behalf of recognized horsemen's organizations, with amounts to be agreed upon annually starting in 2018.

Permits horsemen's organizations to use funds held in the trust account solely as collateral to secure workers' compensation insurance coverage, including loss sensitive programs and through the New York Jockey Injury Compensation Fund, Inc.

Allows horsemen's organizations and franchised corporations to mutually agree to return unused collateral funds from the trust account back to the general horsemen's account when no longer needed for workers' compensation insurance purposes.

Reduces the maximum purse deduction from owners from 2% to 1% effective April 1, 2020.