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TX HB2575
Bill
Status
2/7/2025
Primary Sponsor
Matthew Shaheen
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AI Summary
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Eliminates the deposit of sales tax proceeds from horse-related purchases (feed, supplements, tack, bedding, grooming supplies) into the horse industry escrow account, redirecting those funds to general revenue
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Restricts the escrowed purse account to be used exclusively for race purses, removing the ability of state horse breed registries to apply for funds for "any event that furthers the horse industry"
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Removes the 70% cap on annual allocations from the escrow account to horse racetrack associations for purses, allowing 100% of funds to go toward purses
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Maintains existing distribution structure for greyhound racetracks receiving cross-species simulcast signals: 1.5% fee to sending racetrack, 0.75% each to Thoroughbred and quarter horse registries, and 4.5% escrowed for purses
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Repeals Section 2028.2041 (Occupations Code) and related Tax Code provisions, with the Texas Racing Commission required to adopt conforming rules; effective September 1, 2025
Legislative Description
Relating to the elimination of certain tax proceeds deposited to and the allocation of the horse industry escrowed purse account.
Taxation
Last Action
Left pending in committee
4/28/2025