Bill

Bill > HB588


NH HB588

Relative to the distribution of revenues generated from historic horse racing pari-mutuel pools.


summary

Introduced
01/16/2025
In Committee
02/25/2025
Crossed Over
Passed
Dead

Introduced Session

2025 Regular Session

Bill Summary

This bill requires entities licensed to conduct historic horse race wagering to collect a sum equal to 25 percent of revenues generated after breakage and payment of winnings to patrons and pay it to the lottery commission.

AI Summary

This bill modifies the revenue distribution for historic horse racing (HHR) pari-mutuel pools in New Hampshire, changing how revenues are allocated after winnings are paid out. Currently, licensed entities conducting historic horse race wagering are required to distribute 35% of the collected revenues to charitable organizations, with preferences for local charities. The proposed legislation eliminates this charitable distribution requirement and instead mandates that the full 25% of revenues be paid directly to the lottery commission for use in the special fund established under RSA 284:21-j. Specifically, the bill removes language about charitable organization revenue sharing and replaces it with a straightforward instruction to pay the 25% to the lottery commission. The fiscal note indicates this change will redirect approximately $12.5 million annually from charitable organizations to the lottery fund, which ultimately credits net revenues to the state education trust fund. The bill is set to take effect on July 1, 2025, and notably does not change the overall percentage that game operators receive (75%), focusing instead on redistributing the remaining 25% of revenues.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

Inexpedient to Legislate: Motion Adopted Voice Vote 03/06/2025 House Journal 7 P. 22 (on 03/06/2025)

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