04RS HB693


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HB 693/FN (BR 2290) - J. Jenkins

     AN ACT relating to horse racing.
     Create new sections of KRS Chapter 230 to provide for licensure as an international wagering hub; require that KRS 230.378, 230.379, and 230.380 apply, except where expressly excepted in this Act; permit a licensee to operate the system independently or in association with one or more racetracks licensed to run live racing and pari-mutuel wagering in the state; require applicants to submit a detailed plan of operations to the commission; set out the contents of the plan; permit the commission to require changes to the proposed plan; permit the commission to conduct investigations or inspections or request additional information from the applicant as the commission deems appropriate; permit the applicant to enter into agreements that are necessary to promote, advertise, and further horse racing or the effective operation of the hub; require the commission to promulgate administrative regulations to carry out the provisions of this Act; require that no fees or taxes be imposed on the hub operations; require that a wager made for an account maintained with the hub operator be considered to have been made in the Commonwealth; authorize the commission to review and audit all records and financial information of the hub operator; amend KRS 230.3615 to increase the commission on wagers where the patron is required to select three or more horses to 25%.

     Mar 1-introduced in House
     Mar 2-to Licensing and Occupations (H)

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