HB1742: Pari-mutuel wagering; historical horse racing, percentage retained for distribution.

Legislative Summary

Pari-mutuel wagering; historical horse racing; percentage retained for distribution. Provides that with respect to all authorized historical horse racing terminals, of the amount that a horse racing licensee retains from wagering on historical horse racing pools and in addition to the current distribution required under law, 0.0125 percent each shall be distributed to the Shenandoah County Agricultural Foundation and the Great Meadow Foundation to support the promotion, education, maintenance, and safety of horse racing at such facilities. The bill also increases the distribution percentage provided from the amount that a horse racing licensee retains from wagering on historical horse racing pools to the Problem Gambling Treatment and Support Fund from 0.01 percent to 0.025 percent.