Prohibiting certain provisions from being included in State contracts; specifying that certain provisions are void if included in a State contract; specifying the applicable law and interpretation of State contracts; exempting a State contract relating to the purchase, redevelopment, or operation of a racing facility or training facility site from the prohibitions; and applying the Act prospectively to State contracts executed on or after October 1, 2024, and to the renewal or extension of a State contract on or after October 1, 2024.