This bill amends New Jersey's laws concerning horse racing and off-track wagering by introducing automatic renewal for off-track wagering licenses, contingent upon the submission of necessary forms and fees, with a minimum validity of one year. It eliminates previous provisions that allowed for the denial of license renewals, while still granting the New Jersey Racing Commission the authority to suspend or revoke licenses for noncompliance. Additionally, the bill reduces the minimum number of annual thoroughbred races required from 50 to 25 at Monmouth Park and Meadowlands Racetrack, contingent upon consent from the New Jersey Thoroughbred Horsemen's Association. It also allows simulcasting facilities to accept advance wagers without needing to display live race video and modifies the handling of unclaimed cash vouchers, which will now be split between the permitholder and the purse account after one year.

Moreover, the bill clarifies the eligibility and licensing process for horsemen's organizations, stating that if they do not establish an off-track wagering facility within a year of receiving $1 million in allocated funds, they will lose their eligibility. The New Jersey Racing Commission is tasked with developing progress benchmarks for licensees, with the potential for license renewal denial if these benchmarks are not met. The bill also allows horsemen's organizations to enter into participation agreements with permit holders for off-track wagering operations and emphasizes that such facilities can be established in all commercial and industrial districts. Overall, the amendments aim to streamline the regulatory framework and enhance operational flexibility for off-track wagering facilities 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