Ex-racehorses in New York could soon have a retirement fund. The New York State Task Force on Retired Racehorses, which was established by the state legislature to find ways that public funding could help benefit horses at the end of their track careers, recommended that .5 percent of revenue generated from video lottery terminals help fund the rehabilitation and re-training of ex-racehorses.

The task force also suggested that .5 percent of purse winnings go to the fund. Based on past numbers, those two measures alone could bring in more than $4 million.

Another portion of the Task Force’s report, which was released on Dec. 23, encouraged racehorse owners to financially support a transition, retraining and placement program for at least six months after a horse retires from the track at a cost of $400 per month. Ideally, this would reduce the load on training facilities overloaded with too many retired racehorses. 

In addition to financial responsibility, the task force recommended that all owners and trainers should take an online course to educate themselves about responsible retirement practices. 

Control and distribution of the funds would fall to the Retired Racehorse Fund, which is a committee of 13 representatives from various racing and gaming associations. 

To read the full report, visit the New York State Racing and Wagering Board website.