HORSE RACING & JOCKEY INSURANCE FUND

SB 92 creates a permanent insurance fund to cover costs for jockeys and exercise riders in New Mexico horse racing. The fund, managed by the horse racing commission, is financed through money collected from the commission (to offset insurance expenses) and other sources like investments, donations, and grants. This directly affects jockeys and exercise riders by ensuring their insurance costs are covered under state and federal law, specifically to comply with Section 60-2E-47 NMSA 1978. The bill provides a dedicated funding mechanism to maintain insurance coverage without requiring separate annual appropriations.