Bill > HB2463

This bill amends the Occupations Code to change the deposit and allocation of certain funds to the horse industry escrow account, as well as the maximum balance of that account. Specifically, it: 1. Modifies the distribution of funds from pari-mutuel pools wagered on interstate cross-species simulcast signals at greyhound racetracks, including increasing the amount escrowed with the Texas Racing Commission. 2. Allows the Commission to reimburse racetrack associations for a portion of the cost of purchasing interstate simulcast signals that exceed 5% of the pari-mutuel pool. 3. Expands the eligible recipients of money from the horse industry escrow account to include state horse breed registries, in addition to horse racetrack associations. 4. Limits the annual allocation of funds from the escrow account to horse racetrack associations for use as purses to no more than 70% of the amount deposited. 5. Requires the Comptroller to deposit certain tax revenue from the sale of horse-related products into the horse industry escrow account, up to a maximum of $50 million per biennium. 6. Caps the maximum balance of the horse industry escrow account at $50 million.