The bill amends sections 19-23-3 and 19-23-13b of the Code of West Virginia to enhance regulations surrounding horse racing, specifically focusing on the definition and eligibility of "West Virginia Certified Thoroughbred." This new definition includes specific residency and registration requirements, allowing these horses to compete in restricted races for purse money only, with a preference for accredited thoroughbreds in cases of oversubscription. Additionally, the bill raises the funding cap for restricted races from $1 million to $2 million for thoroughbred racetracks that have not participated in the West Virginia Development Fund for a period of not more than four consecutive years prior to December 31, 1992.

The legislation also establishes the West Virginia Accredited Race Fund and outlines the eligibility criteria for West Virginia accredited restricted races, including purse calculations for certified thoroughbred horses. It mandates that each pari-mutuel thoroughbred horse track conduct at least one restricted race per racing day, with the possibility of additional races based on horse and fund availability. Furthermore, starting July 1, 2001, accredited thoroughbred horses will have preference for entry into all accredited races at participating tracks, and by July 1, 2006, racing associations must implement a West Virginia Thoroughbred Racing Breeders Program. Overall, the bill aims to strengthen the state's thoroughbred racing industry by increasing funding and clarifying eligibility for breeders and horses.

Statutes affected:
Introduced Version: 19-23-3, 19-23-13b