SB90 Summary

• Increases annual compensation for Greene County Racing Commission members from amount set by local law to $25,000 per year plus $50 per day for attending racing events.

• Changes commission member terms from eight years to three years and shifts appointment authority from the Governor to the legislative delegation representing Greene County.

• Increases authorized annual license fee for racetrack operations from $1,000 to $25,000 (or $25,000 per year for multi-year contracts) and allows up to two racetrack or pari-mutuel licenses in the county.

• Establishes residency requirements for license applicants: five years for corporations/entities and their managing members, and five years for individuals seeking to operate a racetrack or pari-mutuel pool.

• Authorizes local and state taxes on historical horse racing machines (up to 15 percent local tax and 1 percent state tax) and modifies revenue distribution among county entities, including reducing the maximum amount for jail and courthouse bonds from $200,000 to $50,000 annually.