NC S471

Authorizes pari-mutuel wagering on horse racing in North Carolina, creating a licensing framework for up to two legacy tracks (existing steeplechase facilities operating 10+ years) and two startup tracks (one thoroughbred, one standardbred)

Requires legacy track operators to invest minimum $250 million and provide at least 10 live race days within three years; startup thoroughbred tracks must invest $350 million with 50 live race days, while standardbred tracks require $150 million investment with 20 live race days

Imposes a 29% tax on adjusted gross revenue from pari-mutuel wagering devices and 1.5% tax on total handle from other pari-mutuel wagers, with proceeds distributed to the General Fund and newly created equine industry funds

Establishes three equine industry support funds: the Equine Breeders Incentive Fund (for NC-bred horses), the Equine Industry Purse Fund (for race purses), and the Equine Programs Fund (for aftercare, veterinary programs, and the National Steeplechase Association)

Allows licensed tracks to operate up to 1,800 pari-mutuel wagering devices, offer advance deposit account wagering statewide, conduct simulcasting of out-of-state races, and offer in-person sports wagering through existing sports betting operators