The New York State Thoroughbred Breeding and Development Fund was established in 1973. The Fund distributes incentive awards for Breeders, owners and Stallion Owners of Registered NYS horses. Since its inception, the Fund has worked to promote the New York Thoroughbred.

The incentive awards managed by the Fund are financed by returning a small percentage of the total wagered on Thoroughbred races in New York State. The Fund also maintains the registry of NY breds and stallions.