MI HB4347

Modifies the Michigan Agriculture Equine Industry Development Fund by establishing specific percentage allocations from the prior fiscal year end balance for standardbred programs (totaling 89%), thoroughbred programs (totaling 10%), and equine industry research programs (1%).

Adds "eligible recipient" definition requiring beneficiaries of certain owner awards and breeders' awards to be Michigan residents.

Increases maximum breeders' awards from 10% to 20% of gross purse for standardbred horses and from 10% to 30% for thoroughbred horses, while expanding eligibility to include wins at races outside Michigan.

Redistributes county fair funding to equal distribution among all Michigan county fairs (6%) and creates separate allocation (2%) for fairs conducting standardbred harness racing.

Creates contingency provisions for thoroughbred sire stakes awards when no race meeting occurs in the state, establishing tiered distribution (50%, 25%, 12%, 8%, 5%) to top five earning Michigan-sired horses by age and sex categories.