06/20/2001 12:00AM

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The New York State Senate passed a bill on Tuesday that would cut the takeout at the racetracks run by the New York Racing Association. The bill, which reduces the takeout on win, place, and show wagers to 14 percent and on exactas, quinellas., and daily doubles to 17.5 percent, has been sent to the Assembly. . . . The New York State Thoroughbred Breeding and Development Fund reinstated the 90-day residency rule for mares returning to New York after being covered by out-of-state sires. The rule, suspended during the foal crisis in Kentucky this spring, stipulates that mares must be returned to New York no later than July 20 to meet residency requirements. . . . Tincin, the maiden whose connections were subject to derision when they said they intended to run the colt in the Kentucky Derby, finished 10th of 11 starters in the fourth race Wednesday at Churchill Downs, a $50,000 maiden-claiming race that was his first start since April.