Bill > HB782

This bill establishes a new fund to distribute a portion of pari-mutuel racing tax receipts to local governments to address social costs associated with racing facilities. Specifically, the bill creates the "pari-mutuel racing local government support fund" within the State Treasury, which will receive one-tenth of one percent of all money wagered on live and historical horse races. The Department for Local Government will administer the fund and distribute money quarterly to counties containing racing tracks, based on the amount of excise tax generated by each facility. Local governments can use these funds to address issues such as law enforcement retention, homelessness, affordable housing, and administrative costs related to racing facilities. The bill also amends existing laws to allow the Department of Revenue to share confidential tax information with the Department for Local Government to calculate fund distributions, and modifies the existing pari-mutuel racing tax structure to enable this new funding mechanism. The goal is to provide financial support to local communities that host horse racing facilities, helping them manage potential social impacts of the racing industry.