The bill introduces significant changes to the laws governing off-track wagering in New Jersey, primarily focusing on the licensing process and operational requirements for simulcasting facilities. Key modifications 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 annual thoroughbred races required from 50 to 25, easing the operational burden on simulcasting facilities. Additionally, it allows for advance wagers without the need for simulcast transmission or live video display, provided certain conditions are met. The bill further clarifies the definition of an "off-track wagering licensee" and revises the participation agreement review process to ensure compliance with the act.

Moreover, the bill addresses 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 also permits these organizations to enter into participation agreements with horse racing permit holders. The application process for off-track wagering licenses is streamlined, requiring a non-refundable filing fee and detailed facility plans. The bill eliminates the preference system for awarding licenses and allows simulcasting facilities to accept wagers on future races at any time. Lastly, it reduces the timeframe for unclaimed cash vouchers to lapse from three years to one year, with the cash value being split between the permitholder and the purse account. Overall, these amendments aim to enhance the operational framework and flexibility of 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