This bill amends the authorizations for conducting advance deposit wagering in Iowa. It requires the state racing and gaming commission to authorize any entity licensed under Code section 99D.9D to conduct advance deposit wagering, thereby removing the previous requirement that only the licensee of the horse racetrack located in Polk County could be authorized. The bill also clarifies that advance deposit wagering allows individuals to establish accounts and use their account balances for pari-mutuel wagering, with specific revenue distribution outlined.

Additionally, the bill stipulates that 50 percent of the net revenue from advance deposit wagering, after taxes and related expenses, will be allocated to horse purses and the licensee of the horse racetrack in Polk County. While the requirement for the commission to authorize only the Polk County racetrack licensee has been deleted, the bill maintains that an agreement with this licensee is still necessary before granting an advance deposit wagering operator license.