The bill proposes significant modifications to New Jersey's laws governing off-track wagering, primarily focusing on the licensing and operational requirements for simulcasting facilities. Key changes include the automatic renewal of off-track wagering licenses, which will now renew upon the filing of necessary forms and payment of renewal fees, with a minimum validity of one year. The bill also reduces the minimum number of annual thoroughbred races required from 50 to 25, easing operational burdens for simulcasting facilities. Additionally, it allows for the acceptance of advance wagers without the need for a simulcast transmission or live video display, under certain conditions. The timeframe for unclaimed cash vouchers to lapse is reduced from three years to one year, with the cash value of lapsed vouchers being split between the permitholder and the purse account.

Moreover, the bill introduces provisions that enhance collaboration between horsemen's organizations and horse racing permit holders, allowing for participation agreements in the operation of off-track wagering facilities. It modifies the application process for off-track wagering licenses, requiring detailed plans and a non-refundable filing fee from applicants. The New Jersey Racing Commission is granted discretion in establishing renewal timeframes for licenses and retains authority to suspend or revoke licenses for noncompliance. Overall, these amendments aim to streamline the licensing process and enhance the operational framework for off-track wagering in New Jersey, promoting flexibility and efficiency within the state's racing industry.

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