The bill amends the New Mexico Horse Racing Act to enhance the regulation of racetrack and gaming operator licenses. Key changes include extending the validity of racetrack licenses from one year to three years, streamlining the renewal process, and granting the commission additional powers to approve racing dates and require detailed applicant information. New provisions are introduced to ensure the confidentiality of documents and communications from applicants and licensees, with established procedures for maintaining this confidentiality and petitioning for the release of information. The tax structure for racetrack licensees is also revised, eliminating class A and class B classifications and specifying the distribution of retained amounts from wagers to benefit the New Mexico horse breeders' association and race purses for New Mexico-bred horses.

Additionally, the bill modifies the allocation of funds from unredeemed winning tickets and unrefunded pari-mutuel tickets, directing these funds to the racetrack licensee, the New Mexico horse breeders' association, and a designated organization by the commission, rather than the New Mexico horsemen's association. It establishes a requirement for the commission to audit these distributions and clarifies the conditions under which a racetrack's gaming operator license may become void. The licensing process for gaming operators is also revised to a three-year review cycle, with specific conditions outlined for racetrack operations of gaming machines, including the number of live race days and operational hours. Overall, the bill aims to modernize the regulatory framework for horse racing and gaming in New Mexico, ensuring improved oversight and financial management.

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