Bill > S471

This bill authorizes and regulates pari-mutuel horse race wagering in North Carolina through a comprehensive framework establishing licensing, operational standards, and financial provisions for horse racing tracks and wagering. The bill creates two types of racing track licenses: legacy tracks (existing tracks meeting specific criteria) and startup tracks (new or proposed tracks), with provisions for obtaining licenses, operational requirements, and restrictions. Key provisions include establishing an initial limit of two legacy track licenses and two startup track licenses (one for thoroughbred and one for standardbred horses), implementing strict background checks and financial investment requirements for licensees, and creating three dedicated funds to support the equine industry: the Equine Breeders Incentive Fund, the Equine Industry Purse Fund, and the Equine Programs Fund. The bill imposes a 29% tax on adjusted gross revenue from pari-mutuel wagering devices and a 1.5% tax on the total handle of horse races, with specific revenue allocation rules. Additionally, the bill establishes geolocation and age verification requirements, prohibits wagering by certain individuals (such as those under 21), and creates a comprehensive regulatory framework for advance deposit account wagering, simulcasting, and other aspects of horse race betting. The legislation aims to create jobs, foster the equine industry, and provide a regulated environment for horse race wagering in North Carolina.

https://www.ncleg.gov/BillLookUp/2025/S471