This bill amends Section 267 of Title 3A of the Oklahoma Statutes, which pertains to horse racing. It designates the organization elected by horsemen in 2003 as the official representative for both Thoroughbred and non-Thoroughbred horsemen participating in live race meets conducted by organization licensees. The bill requires organization licensees to negotiate and covenant with these official representatives regarding various aspects of race meetings, including the distribution of commissions and purses, welfare matters, and other legal necessities.

Additionally, the bill stipulates that if more than 50% of participating horsemen from a single breed opt out of representation by the designated organizations, the Oklahoma Horse Racing Commission may hold an election to select an alternate representative organization. It also mandates that the official horsemen's representative organizations provide an annual financial accounting to the Commission for funds received under this act and outlines the administration of a benevolence program for race participants, which is subject to Commission approval. The act is set to take effect on November 1, 2025.