Removes restrictions on the number of non-managing owners of a race horse; specifies in cases of multiple ownership only persons having a five percent or more ownership interest in such general or limited partnerships shall be required to be licensed as an owner.

The bill, NY A11106, aims to change the rules for owning race horses by allowing more people to be non-managing owners without needing a license. Only those who own 5% or more of a horse or partnership would need to be licensed as owners. This makes it easier for more individuals to invest in race horses.

Supporters of NY A11106 argue that this bill encourages broader participation in the horse racing industry, making it more accessible for enthusiasts and investors. By reducing licensing requirements, it could stimulate investment and growth in the sport, benefiting the economy and local communities.

Critics of the bill may express concerns that loosening ownership restrictions could lead to less accountability and oversight in the horse racing industry. They might argue that requiring fewer owners to be licensed could increase risks related to animal welfare and ethical treatment in racing operations.