This bill amends several sections of the Code of West Virginia to enhance the framework surrounding horse racing, particularly focusing on the definition and requirements for "West Virginia Certified Thoroughbred" horses. It establishes criteria for certification, including registration with the West Virginia Thoroughbred Breeders Association and a six-month residency requirement prior to the horse's three-year-old year. The bill also stipulates that these certified thoroughbreds will be ineligible for participation in specific races and funds, such as the West Virginia Accredited Stakes Races and the West Virginia Thoroughbred Fund. Additionally, it increases the funding cap for restricted races at certain thoroughbred racetracks and mandates that licensed racing associations deposit a percentage of their net terminal income into the Racing Commission General Administrative Account.

Moreover, the bill introduces new provisions for the distribution of funds related to thoroughbred racing, including a cap on sire owners' earnings and the establishment of a restricted purse supplement award for owners of accredited thoroughbred horses. It requires each pari-mutuel thoroughbred horse track to conduct at least one restricted race per day and increases the funding cap for restricted races from $1 million to $2 million annually for specific racetracks. The legislation also allocates a portion of net terminal income to the West Virginia Thoroughbred Development Fund and modifies existing allocations to support the thoroughbred industry while reducing the share for the greyhound breeding fund. Overall, the bill aims to strengthen the financial structure and support for West Virginia's thoroughbred and greyhound racing industries.

Statutes affected:
Introduced Version: 19-23-3, 19-23-12c, 19-23-13b, 29-22A-10