MI HB4823

Removes the $3,000,000 annual cap on allocations to the Michigan agriculture equine industry development fund and redirects the 5% allocation to grants for race meeting licensees and certified horsemen's organizations under the horse racing law of 1995.

Grants to certified horsemen's organizations must equal in total amount the grants awarded to race meeting licensees.

Permits grant funds to be used for horse race purses, capital improvements or debts for racetracks, and operational expenses of racetracks.

Maintains existing provisions for allocating internet gaming tax revenue: 30% to host city, 65% to state fund, and 5% to horse racing grants and operations.