The bill introduces significant changes to New Jersey's horse racing and off-track wagering laws, primarily focusing on the licensing process and operational flexibility for off-track wagering facilities. Key provisions include the automatic renewal of off-track wagering licenses upon the submission of necessary forms and fees, with a minimum validity of one year. The bill also reduces the minimum number of required annual thoroughbred races from 50 to 25, contingent upon consent from the New Jersey Thoroughbred Horsemen's Association. Additionally, it allows permitholders to accept advance wagers without the need to display live race video and clarifies the distribution of unclaimed cash vouchers after one year.

Moreover, the bill streamlines the eligibility and licensing process for horsemen's organizations, stipulating that failure to establish an off-track wagering facility within a reasonable timeframe will result in the loss of eligibility. It removes specific requirements related to the bidding process for licenses and annual renewal fees, while granting the racing commission authority to set standards for off-track wagering facilities. The bill also eliminates the preference system for awarding licenses and reduces the timeframe for unpaid cash vouchers to lapse from three years to one year, ensuring a more efficient and flexible operational framework for off-track wagering in New Jersey.

Statutes affected:
Introduced: 5:5-22.2, 5:5-129, 5:5-130, 5:5-131, 5:5-134, 5:5-156