A bill to amend 1995 PA 279, entitled “Horse racing law of 1995,” by amending sections 2, 8, 9, 10, 12, 14, 17, 18, 19, 20, 20a, and 22 (MCL 431.302, 431.308, 431.309, 431.310, 431.312, 431.314, 431.317, 431.318, 431.319, 431.320, 431.320a, and 431.322), sections 2, 10, 12, 14, and 18 as amended by 2016 PA 271 and sections 8, 9, 17, 19, 20, and 22 as amended and section 20a as added by 2019 PA 153; and to repeal acts and parts of acts.
Senate Bill 411 would lower the tax on simulcast horse racing from 3.5% to 1% and reduce the amount generated from taxes on third-party facilitators that is deposited in the AEIDF. It also would increase the amount to the Horse Racing Advisory Commission. Senate Bill 412 would increase revenue by $4.7 million to the AEIDF and decrease the amount to the School Aid Fund by the same amount by removing a $3.0 million cap on contributions to Michigan Agriculture Equine Industry Development Fund. The bill also would remove the requirement that any amount in the AEIDF that exceeds $8.0 million in deposits must be allocated to the pari-mutuel horse racing disbursement account. Senate Bill 413 would remove a $3.0 million cap on contributions to the AEIDF from the Internet Sports Betting, which would result in no change in revenue to the AEIDF, due the amount only totaling $700,000 in FY 2021-22. Senate Bill 414 would have no fiscal impact on state or local government.
Co-sponsored by Sens.
Referred to the Committee on Natural Resources and Agriculture
