The bill amends the Code of West Virginia to enhance the framework governing horse and greyhound racing, with a particular emphasis on thoroughbred racing. It introduces a new definition for "West Virginia Certified Thoroughbred," establishing specific residency and registration criteria for participation in restricted races. The legislation modifies the distribution of funds from interstate simulcasts, ensuring that a portion of signal transmission fees is allocated to employee pension plans and the West Virginia Thoroughbred Development Fund. Additionally, it increases the funding cap for restricted races at thoroughbred racetracks that have not participated in the West Virginia Development Fund for a specified period, while also outlining the allocation of net terminal income from video lottery operations to support thoroughbred breeding and racing in the state.

Furthermore, the bill mandates that each pari-mutuel thoroughbred horse track must conduct at least one restricted race per racing day, contingent on the availability of horses and funds. It establishes a three-member committee at each track to oversee the administration of these races, funded by the general purse fund and the newly created West Virginia Accredited Race Fund. The bill also details the distribution of net terminal income, specifying allocations for various funds, including the Workers Compensation Debt Reduction Fund and the Cultural Facilities and Capitol Resources Matching Grant Program Fund. Overall, the legislation aims to bolster the thoroughbred racing industry in West Virginia through improved funding mechanisms and administrative oversight.

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