Relates to the investment of funds wagered on video lottery gaming for certain horse races; repealer

This bill redirects specific percentages of revenue from video lottery gaming at Aqueduct, Belmont Park, and Saratoga racetracks to three key areas: (1) 6.5%-7.5% of wagered funds to support New York schools (including those for students with disabilities), (2) 4% to fund racetrack capital improvements (like equine drug testing labs), and (3) 3% for general racing operations. It also allocates 8.5% to a breeding fund and modifies prior funding structures for Nassau/Suffolk video lottery facilities. The bill directly affects New York’s public education system, thoroughbred racing industry, and specific racetracks. It replaces outdated language in tax law to clarify how video lottery gaming revenue is distributed.