This bill proposes several updates to current statutes related to horse racing in Arizona. It introduces new provisions, including the establishment of the Equine Economic Improvement Fund, which will receive funds from the fantasy sports contest and event wagering funds. The bill mandates that $25,000 be distributed annually from this new fund to the retired racehorse adoption fund and any remaining funds to a recognized nonprofit horsemen's organization. Additionally, it specifies that five percent of the annual revenue from both the fantasy sports contest fund and the event wagering fund will be allocated to the Arizona Breeders' Award Fund and the Arizona Stallion Award Fund.

The bill also makes various changes to existing language, such as replacing "chairman" with "chairperson" and clarifying the distribution of funds from the Arizona Breeders' Award Fund and the Arizona Stallion Award Fund. It modifies the percentage of funds transferred to the state general fund from the event wagering fund and ensures that the funds in the Equine Economic Improvement Fund are continuously appropriated and exempt from lapsing provisions. Overall, these updates aim to enhance the support for horse racing and related agricultural activities in Arizona.

Statutes affected:
Introduced Version: 5-113, 5-113.02, 5-1212, 5-1318, 35-146, 35-147, 5-113.01, 5-114, 5-107.01, 5-108, 5-104, 3-109.01, 35-310, 35-313, 35-314.03, 35-190, 5-1211