The bill amends the Horse Racing Law of 1995 in Michigan by updating key definitions and provisions related to horse racing. Notable insertions include the definition of "eligible recipient," which requires individuals to be Michigan residents and organizations to be majority-owned by Michigan residents. The term "indexed annually" is introduced, mandating adjustments of certain dollar amounts based on the Detroit Consumer Price Index. Other definitions, such as "simulcast" and "Michigan-bred standardbred harness horse," have been clarified to specify eligibility criteria based on ownership and breeding location.

Additionally, the bill outlines a revised funding structure for the Michigan agriculture equine industry development fund, stipulating that funds must be appropriated by the legislature for specific programs, with a minimum annual allocation of $1,500,000 for standardbred harness horse race purses, indexed annually. It also establishes funding amounts for county fairs and breeders' awards, while removing provisions related to quarter horse and other non-standardbred programs to streamline focus on thoroughbred and standardbred horses. The bill emphasizes the importance of health and safety monitoring during races and mandates timely disbursement of funds for purse supplements and breeders' awards, enhancing financial support efficiency for the horse racing industry in Michigan.

Statutes affected:
House Introduced Bill: 431.302, 431.320