Section 330. Agriculture and New York state horse breeding development fund

There  is  hereby created within the state racing and wagering board the
  "agriculture and New York state horse breeding development  fund".  Such
  fund shall be a body corporate and politic constituting a public benefit
  corporation. It shall be administered by the commissioner of agriculture
  and  markets,  the  chairman  of  the New York state racing and wagering
  board or his or her designee, and the chairman and members of the  state
  harness  racing  commission  as reconstituted pursuant to article one of
  this  chapter.  Members  shall  continue  to  hold  office  until  their
  successors are appointed and qualified. The chairman shall be designated
  by  the  members  of  the fund. The members of the fund shall receive no
  compensation from the fund for their services as such members but  shall
  be  reimbursed  by  the  fund  for the expenses actually and necessarily
  incurred by them in the performance of their duties under  sections  two
  hundred twenty-two through seven hundred five of this chapter. Such fund
  shall  have perpetual existence and shall exercise all powers authorized
  by this chapter and reasonably necessary for accomplishing its purposes.
  Such powers shall be exercised in the name of the fund.
    The fund is created in order that  it  may  promote  the  breeding  of
  horses  and  the  conduct  of  equine  research in this state on its own
  responsibility and under its own business management. The  policy,  good
  faith  and  interest  of the state are concerned with the management and
  development of the fund and are committed to promotion of horse breeding
  and equine research in this state in active cooperation with  the  fund.
  The  promotion  and  encouragement of equine research shall be through a
  fund of a land  grant  university  within  this  state  with  a  regents
  approved  veterinary college facility. Nothing herein, however, shall be
  deemed in any way to obligate the  state  to  any  bondholder  or  other
  creditor of the fund.
    The  fund  is  directed  to  report  annually,  on  or  before January
  thirty-first, to the governor and the legislature, on the state  of  the
  standardbred  breeding  industry  in  this  state.  Such  reports  shall
  include, but not be limited to, the impact of the fund's programs on the
  breeding and racing aspects of the industry; economic factors  affecting
  the  industry  such as employment and employment growth, state and local
  benefits of breeding farms, income and the production of  income  within
  this state, economic comparisons with other states; and data relative to
  mares  and  stallions standing in this state to include such information
  as the number in this state, racing quality  as  measured  by  wins  and
  stakes won and placed and money won, the number of foals and foal racing
  quality as measured by sales value and number of starts, races and money
  won,  the  progeny  quality,  including earnings, and the success of New
  York-breds nationally.
    The fund is further directed to incorporate into its reports  comments
  from  spokesmen  representing  all  segments  of the industry as well as
  recommendations on preserving and enhancing  the  standardbred  breeding
  industry in this state.