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 issue ADW licenses, oversee grant programs, and ensure compliance with applicable laws. The bill also specifies definitions related to horse racing and wagering, and it prohibits certain forms of gambling not authorized by the commission.

Additionally, the bill establishes the Equine Industry Development Fund, which will be funded through fees collected from ADW activities and will be used to provide grants for projects that promote the equine industry. The commission is tasked with creating a grant program to support horse-breeding, training centers, and equine-related education. The act also includes provisions for the licensing process, background checks for applicants, and penalties for violations related to unauthorized wagering. The commission is required to submit an annual report of its activities and is expected to be operational within a specified timeframe following the bill's approval.