N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 334
1. The fund is further authorized and directed to conduct each year, at the New York state exposition, with the approval of the director of the exposition, or at any licensed pari-mutuel track in New York state, with a preference given to any available licensed pari-mutuel track that is five-eighths of a mile long or larger, colt, stake and overnight events for standardbred horses to provide contests for two year old and three year old colts and fillies at each gait of trotting and pacing. The colt, stake and overnight events so conducted for two year old and three year old colts and fillies at each gait of trotting and pacing hereunder shall be conditioned to admit only those colts and fillies dropped from a mare bred in this state and sired by a stallion owned or leased and permanently standing for service at and within this state at the time of the said foal's conception, provided, however, that such mare, stallion, and foal shall be microchipped with such microchip information which the commission may request be provided and made available pursuant to section two hundred twenty-five of this chapter. Such colt, stake and overnight events shall be opened for nomination not earlier than the first day of January in the year the event is to be held and only colts and fillies and horses complying with the following standards shall be eligible for such nomination: a. All foals must be sired by a stallion registered with the fund or an agent designated by it. b. Prior to December first of each year, all persons standing a stallion at either public or private service shall file with the fund or an agent designated by it a list of all mares bred to each stallion. c. All persons standing a stallion in New York state must: Register each stallion with the fund or an agent designated by it. d. Syndicates standing a stallion in this state where the syndicate is owned partly by non-residents of this state, must file a lease with the fund or an agent designated by it. e. Stallion eligibility: Eligible stallions are those stallions:
(iii) owned jointly by a resident of a state other than New York together with a resident of this state and standing the entire stud season in this state and leased by a resident of this state for a term of not less than one year.