S.F. No. 2950 Summary

• Imposes a regulatory fee of one percent on all amounts wagered by Minnesota residents with authorized advance deposit wagering providers, with fees paid to the commission within 15 days of each month's end.

• Imposes a breeders fund fee of one-quarter of one percent on all amounts wagered by Minnesota residents with authorized advance deposit wagering providers, payable to the commission within 15 days of each month's end.

• Directs breeders fund fee revenues to support racehorse adoption, retirement, repurposing, and promotion of horse breeding in Minnesota.

• Deposits all collected fees into the state treasury and credits them to a racing and card-playing regulation account in the special revenue fund.

• Becomes effective on July 1, 2022.