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 members and will have the authority to issue ADW licenses, oversee compliance, and manage the Equine Industry Development Fund, which will provide grants to support various equine-related projects and initiatives.

Additionally, the bill sets forth specific definitions related to horse racing and wagering, establishes application guidelines for obtaining an ADW license, and outlines penalties for violations of the new regulations. It prohibits individuals under the age of eighteen from participating in pari-mutuel wagering and mandates that the commission submit an annual report of its activities. The commission is required to be formed within sixty days of the act's approval, and regulations for the grant program must be established within twelve months. The act will take effect upon the Governor's approval.