On Monday (Dec. 17) the New Jersey Senate voted 40-0 in favour of legislation that calls for $100 million in financial support for the state horse racing industry over a five-year period.

News of the Senate’s support of the legislation has come courtesy of a brief article by nj.com, which explains that the bill still needs to pass the Assembly before it can head to the desk of Governor Phil Murphy.

The legislation will provide a $20 million subsidy to New Jersey’s horse racing industry, to be divided equally between the Thoroughbred and Standardbred industries. The state's funding would benefit not just racetracks, but everyone involved in racing.

AJ Sabath, a lobbyist representing the Standardbred Breeders and Owners Association of New Jersey, was quoted as saying last week that "The horse racing industry has had a long road to recovery, and we feel this purse supplement money, as well as the ability to enter into agreements with sports book operators at the racetracks, would provide a necessary shot of adrenaline into the horse racing industry."

(With files from nj.com)