The "South Carolina Equine Advancement Act" aims to enhance the equine industry in South Carolina by establishing the South Carolina Equine Commission and the Equine Industry Development Fund. The bill introduces a new chapter to Title 11 of the South Carolina Code, which outlines the commission's structure, powers, and responsibilities, including the regulation of advanced deposit account wagering (ADW) for horse racing. The commission will consist of appointed commissioners and will have the authority to create rules, manage funds, and oversee the licensing of ADW operators. The bill also specifies the definitions related to horse racing and wagering, ensuring clarity in the legal framework.

Additionally, the act establishes a grant program funded by the Equine Industry Development Fund, which will support various equine-related initiatives, such as horse-breeding programs and training centers. The commission is tasked with creating criteria for grant eligibility and procedures for applications. The legislation prohibits individuals under eighteen from participating in pari-mutuel wagering and sets penalties for violations of the licensing requirements. The commission is required to submit an annual report of its activities and is expected to be operational within sixty days of the act's approval.