SB 1355 Summary

• Amends Michigan's horse racing law to establish advance deposit account wagering (ADAW) as a licensed method for pari-mutuel wagering on horse races, allowing individuals to place wagers in person, by telephone, or electronically through licensed providers.

• Transfers regulatory authority from a "racing commissioner" position to the executive director of the Michigan Gaming Control Board to oversee horse racing, pari-mutuel wagering, and advance deposit account wagering licenses.

• Requires advance deposit account wagering licensees to pay fees of $5,000 for initial licensing and $1,000 annually, plus monthly fees of 0.5% to the director, 3.5% to the state general fund, and 10% to certified horsemen's organizations based on total wagers.

• Distributes advance deposit account wagering revenue to licensed tracks (44%), horsemen's purses and organizations (44%), breed incentives (10%), horse retirement (0.5%), youth equine programs (0.5%), county fair equine premiums (0.5%), and local governments (0.5%).

• Establishes a one-year amnesty period for persons who conducted advance deposit account wagering before the law's effective date if they obtain a license, settle with the director, and pay 1-2% fees on prior wagers.