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IN SB0252
Bill
AI Summary
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Requires the Indiana Horse Racing Commission (IHRC) to promote the horse racing industry, including its simulcast product, and submit annual reports detailing promotional actions and expenditures
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Increases the cap on breed development fund money available for IHRC operating, administrative, and promotional costs from 2% to 4% of prior year distributions, with promotional costs limited to 50% of that amount
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Doubles minimum required live racing days from 140 to 280 combined at both tracks: 160-180 days for standardbreds at Hoosier Park and 120-150 days for thoroughbreds at Indiana Grand
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Restructures breed development committee appointments to include one member appointed by the governor (as chair), one by the track permit holder, and one by the horsemen's association representing owners
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Adjusts thoroughbred slot machine revenue distribution from 60%/40% to 55%/45% split between purses and breed development fund
Legislative Description
Horse racing matters. Requires the Indiana horse racing commission (IHRC) to promote the horse racing industry in Indiana, including its simulcast product. Provides that promotional costs may be paid from the breed development funds. Increases the amount of money in the breed development funds that may be used for IHRC expenses from 2% to 4%. Provides that not more than 50% of that amount may be used to pay costs incurred to promote the Indiana horse racing industry. Requires the IHRC to annually report and account for its promotional actions and expenditures. Specifies that the number of days that the
Last Action
Public Law 256
5/12/2015