This bill amends existing legislation regarding the management of pari-mutuel funds in Wyoming. It requires that a portion of the funds generated from historic pari-mutuel events and simulcasting be allocated to the state highway fund. Specifically, it mandates that permit holders pay an amount equal to one percent (1%) of the total amount wagered to be credited to the state highway fund, in addition to the existing requirement to pay a similar amount to local counties and cities. The bill also updates the language to clarify the reporting and payment processes associated with these funds.

Additionally, the bill modifies the provisions related to the commission's financial management. It removes the previous reference to paragraph (iv) and includes new language that encompasses the updated payment structure from paragraphs (b)(iii) through (v). The commission is tasked with maintaining accurate financial records and ensuring that all funds are audited biennially. The act is set to take effect on July 1, 2026.

Statutes affected:
26LSO-0131 v0.4: 11-25-201