The bill amends the Horse Racing Law of 1995 in Michigan by updating definitions and provisions related to the horse racing industry. Key insertions include the definition of "eligible recipient," which requires individuals to be Michigan residents and organizations to be majority-owned by residents. New terms such as "indexed annually" and "simulcast" are introduced, with the former mandating adjustments to certain dollar amounts based on the Detroit Consumer Price Index. The bill also outlines the responsibilities of the Michigan agriculture equine industry development fund, detailing the allocation of funds for various horse racing programs and initiatives.

Significant deletions from current law include the removal of specific funding caps and requirements for purse supplements and allocations to fairs, allowing for greater flexibility in funding distribution. The bill mandates minimum payments to standardbred and fair programs, including $1,500,000 for purses and $500,000 for breeders' awards, both indexed annually. It also clarifies the designation of county fairs to host harness races when licensed race meetings are unavailable and introduces new eligibility criteria for foals conceived outside the state. Overall, the bill aims to enhance the horse racing industry in Michigan while ensuring effective management and allocation of funds to support high-quality racing and breeding.

Statutes affected:
House Introduced Bill: 431.302, 431.320