Lowers the financial burden of professional wrestling promoters; repealer

This bill repeals a requirement that professional wrestling promoters in New York must post a $20,000 bond to guarantee payments for wrestler purses, advertising, and other expenses (previously in Section 1015, subdivision 11). It directly affects promoters of professional wrestling events by removing this specific financial obligation. The bill amends the general business law to update definitions of "professional wrestling" and related terms but focuses the key change on eliminating the bond requirement. The annual license fee for promoters remains capped at $225, but the bond requirement is fully repealed. This change reduces administrative and financial burdens on wrestling promoters without altering other licensing or safety provisions.