The bill amends the New Mexico Horse Racing Act to enhance the regulatory framework for racetrack and gaming operator licenses. Key changes include granting the commission the authority to grant, deny, suspend, or revoke licenses, approve racing dates, and require detailed information from applicants. A significant addition is the confidentiality provision that protects communications and documents from applicants or licensees from disclosure without consent or a lawful court order. The term of racetrack licenses is extended from one year to three years, with provisions for renewal, and the bill also revises the daily pari-mutuel tax structure, ensuring a portion of the gross amount wagered is allocated to the New Mexico horse breeders' association.

Additionally, the bill specifies the distribution of funds from unclaimed winning tickets and unrefunded pari-mutuel tickets, redirecting allocations from the New Mexico horsemen's association to the racetrack licensee, the New Mexico horse breeders' association, and the commission. It introduces a requirement for the commission to audit these distributions and outlines the allocation of a portion of the daily capital outlay tax to the racehorse testing fund. The licensing process for gaming operators at racetracks is also revised, establishing conditions for maintaining licenses, including a minimum number of live race days. Licenses and certifications will now be reviewed every three years, and new requirements for background checks and record-keeping for applicants are introduced.

Statutes affected:
introduced version: 60-1A-4, 60-1A-6, 60-1A-8, 60-1A-18, 60-1A-19, 60-1A-20, 60-1A-21, 60-2E-14, 60-2E-27