The proposed "South Carolina Equine Promotion Act" aims to enhance the equine industry in South Carolina by establishing the Equine Promotion Board and imposing a $2 per ton assessment on all commercial feed and custom blends labeled for equine use. The board will consist of nine members with direct ties to the equine industry, appointed by various agricultural and equine organizations, ensuring diverse representation. The board will oversee the collection of funds generated from the assessment, which will be credited to a separate "Equine Promotion Fund" dedicated to promoting the equine industry, covering administrative expenses, and funding research and education initiatives.

Additionally, the act mandates an annual audit of the Equine Promotion Fund by the State Auditor to ensure compliance with the law regarding the collection and expenditure of funds. The act emphasizes the importance of the equine industry to South Carolina's economy and seeks to foster its growth through structured governance and financial support. The bill will take effect upon the Governor's approval.