MI HB5407

Appropriates $1,385,850 in supplemental funding for various state departments for fiscal year ending September 30, 2010, drawn primarily from state restricted revenues.

Appropriates $1,668,494 to the Department of Agriculture for fairs, expositions, and horse racing programs including standardbred purses, thoroughbred programs, and sire stakes.

Appropriates $306,684 to the Department of Treasury racing commissioner, funded through agriculture equine industry development fund and industry support funds, to support 217 total racing dates across 5 Michigan-licensed horse racetracks.

Establishes contingency allocation of up to $742,730 from agriculture equine industry development fund revenue surplus for fiscal year 2011 to support standardbred and thoroughbred racing programs.

Requires Michigan Gaming Control Board to provide regulatory functions for horse racing and report to legislature by September 1, 2010 on transferring racing commissioner functions and efforts to regulate and promote the horse racing industry.