LEGISLATIVE FISCAL ESTIMATE TO

[First Reprint]

SENATE, No. 201

STATE OF NEW JERSEY

DATED: July 15, 1996

      Senate Bill No. 201 (1R) of 1996 repeals P.L.1992, c.113, the law establishing a "Charity Racing Day for the Vietnam Veterans' Memorial," and replaces that charity day with a "Charity Racing Day for the Horse Park of New Jersey and for the Care of Retired Horses." The bill appropriates funds received by the Racing Commission from its share of parimutuel pools on those racing days at the New Jersey racetracks to the Department of Agriculture for a grant to the Horse Park of New Jersey and for grants to organizations which care for retired racehorses. The bill provides that these received funds be appropriated equally between the grant to the Horse Park and the grants to organizations for retired racehorses.

      The New Jersey Racing Commission estimates that enactment of this bill will have no fiscal impact on the State. Presently, $50,000 is collected annually for the charity racing day for the Vietnam Veterans' Memorial.

      The Office of Legislative Services concurs.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.