MI SB1193

Increases the sports betting tax on adjusted gross sports betting receipts from 8.4% to 8.5%

Reallocates tax revenue distribution: increases city allocation from 30% to 31%, decreases state allocation from 65% to 63.5%, and increases Michigan agriculture equine industry development fund allocation from 5% to 5.5%

Maintains the $3,000,000.00 annual cap on the equine industry fund, with amounts exceeding that threshold deposited into the state fund instead

Preserves existing exemptions for Indian tribe sports betting operators and does not affect contractual rights under existing development agreements