HB464 Summary

• Increases annual compensation of Greene County Racing Commission members from $25,000 to amounts set by local legislative delegation, with additional $50 per day for attending racing events.

• Changes commission member term length from eight years to three years and requires appointment by Greene County's legislative delegation instead of the Governor.

• Removes restriction limiting racetracks to 313 racing days per year and allows commission to issue up to two racetrack or pari-mutuel licenses with permission to operate simultaneously.

• Increases authorized annual license fee from $1,000 to $25,000 per license and establishes five-year state residency requirement for license applicants.

• Establishes up to four percent local tax on pari-mutuel wagering for historical horse racing machines and repeals Section 45-32-150.19 relating to race outcome manipulation.