OK SB820

Amends 3A O.S. 2001, Section 208.3 to modify the Oklahoma Breeding Development Fund Special Account operated by the Oklahoma Horse Racing Commission.

Increases the permissible administrative spending from 10 percent to 15 percent of prior year receipts for administration of the Oklahoma Breeding Development Program.

Expands allowable expenditures to include funding nonprofit entities based in Oklahoma and exempt from federal taxation for the purpose of providing care for retired and unwanted Oklahoma-bred racing stock upon request of official horsemen's representative organizations.

Requires the Oklahoma Horse Racing Commission to establish eligibility criteria by rule for nonprofit entities seeking funds to care for retired and unwanted Oklahoma-bred racing horses.

Becomes effective November 1, 2010.