This bill amends several sections of Louisiana law related to purse supplements for horse racing, specifically addressing the transfer and distribution of purse funds. It allows for the transfer of purse funds between licensed eligible facilities for both thoroughbred and quarter horse races, contingent upon agreement with the Horsemen's Benevolent and Protective Association. Additionally, the bill stipulates that any accrued interest on undistributed purse funds must be allocated specifically for Louisiana bred races, ensuring that these funds are used to support local breeding initiatives.

Furthermore, the bill modifies the handling of revenues from video draw poker devices, mandating that all interest earned on these funds also be designated for Louisiana bred races. The amendments clarify the process for the distribution of purse supplements and ensure that any unused funds from a race meeting are placed in an interest-bearing account until the next meeting, with the interest earned being reserved for Louisiana bred races. Overall, the bill aims to enhance the financial support for Louisiana's horse racing industry while promoting local breeding efforts.

Statutes affected:
HB932 Original: 4:1(D), 4:2(A), 4:217(D)(3), 27:438(B)(5)
HB932 Engrossed: 4:1(D), 4:2(A), 4:217(D)(3), 27:438(B)(5)
HB932 Enrolled: 4:1(D), 4:2(A), 4:217(D)(3), 27:438(B)(5)
HB932 Act 642: 4:1(D), 4:2(A), 4:217(D)(3), 27:438(B)(5)