HB 3527 Summary

• Appropriates funds from the General Revenue Fund to the Horse Racing Commission for fiscal year ending June 30, 2015, to perform its statutory duties.

• Authorizes the Executive Director of the Horse Racing Commission to set employee duties and compensation, with the Director's salary capped at a specified amount per annum (amount left blank in bill).

• Establishes budgetary limitations on full-time-equivalent employees (0.0) and lease-purchase agreements ($0.00) for fiscal year 2015.

• Requires funds budgeted for FY-2015 to be encumbered by June 30, 2015 and fully expended by November 15, 2015; permits budgeting of unspent FY-2015 funds for FY-2016 with proper approval.

• Effective date: September 1, 2014.