GA HB1305

Legalizes pari-mutuel wagering on horse racing in Georgia and establishes a seven-member Georgia Racing Commission, appointed by the Governor and confirmed by the General Assembly, with plenary authority to regulate all horse racing and wagering in the state.

Requires local approval through county or municipal referenda before any racetrack or satellite wagering facility can be licensed, with petitions needing signatures from 1% or 1,000 qualified electors (whichever is less) to trigger the vote.

Establishes a detailed tax and revenue distribution structure, with licensees retaining up to 18% of win/place/show pools and up to 22% of exotic wager pools, allocated among the state (as license tax), host counties/municipalities, participant purses (41–45% of retainage), the Georgia Breeders Funds, the Lottery for Education Account, and the University of Georgia's veterinary and agricultural colleges.

Enters Georgia into the Interstate Compact on Licensure of Participants in Live Racing with Pari-Mutuel Wagering, creating uniform multi-state licensing standards for owners, trainers, jockeys, and other racing participants.

Contingent effective date of January 1, 2013, requiring prior passage and ratification of a state constitutional amendment authorizing pari-mutuel wagering in the 2012 general election; the Act would be automatically repealed if the amendment is not proposed or is rejected by voters.