This bill amends various sections of the Florida Statutes concerning thoroughbred permitholders and their operations. It requires thoroughbred permitholders to maintain a full schedule of live racing until they notify the Florida Gaming Control Commission, with a valid notice delivery date of July 1, 2028, and a minimum four-year notice period before discontinuing live racing. The bill also revises the tax criteria for intertrack wagering, introducing a reduced tax rate for permitholders that conducted a full schedule of live racing in the previous fiscal year. Furthermore, it removes certain criteria for cardroom license renewal, providing greater operational flexibility for permitholders.

Additionally, the bill includes provisions that mandate thoroughbred permitholders operating slot machine facilities or cardrooms to continue conducting live racing and outlines the allocation of cardroom proceeds to support purses and breeders' awards. It also clarifies the financial arrangements for intertrack wagering by reenacting specific provisions and defining "net proceeds" as the amount remaining after deducting state taxes, required purses, payments to out-of-state horse tracks, and breeders' awards. The bill is scheduled to take effect on July 1, 2025.

Statutes affected:
S 408 Filed: 550.01215
S 408 c1: 550.01215, 550.0951, 551.104