summary
Introduced
02/11/2021
02/11/2021
In Committee
03/05/2021
03/05/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO HORSE RACING; CHANGING THE REQUIREMENTS FOR MEMBERS OF THE STATE RACING COMMISSION; SETTING APPORTIONMENT OF MONEY FROM CERTAIN PURCHASES OF PARI-MUTUEL TICKETS FOR SIMULCAST HORSE RACES; LIMITING RETAINAGE OF CERTAIN WAGERS; CLARIFYING MONEY TO BE PAID INTO A FUND CREATED BY THE NEW MEXICO HORSE BREEDERS' ASSOCIATION.
AI Summary
This bill makes several changes to New Mexico's horse racing laws:
1. It reduces the number of members of the State Racing Commission who must be practical breeders of racehorses from at least three to no more than two.
2. It sets the apportionment of money from certain pari-mutuel wagers for simulcast horse races, with 60% retained by the racetrack licensee, 20% distributed to the New Mexico Horse Breeders' Association for New Mexico-bred horse purses, and 20% allocated to the New Mexico Horsemen's Association for purses.
3. It limits the retainage that racetrack licensees can take from certain wagers, including setting a 5% cap on deductions for expenses related to simulcasting.
4. It clarifies that the money paid into a fund created by the New Mexico Horse Breeders' Association comes from wagers on both live and simulcast races.
Committee Categories
Budget and Finance, Justice
Sponsors (1)
Last Action
STBTC: Reported by committee with Do Pass recommendation (on 03/05/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=378&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0378.pdf |
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