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| SPONSOR: | Smith | DATE TYPED: | 02/16/01 | HB | |||
| SHORT TITLE: | Gaming Operator Licenses for Racetracks | SB | 235 | ||||
| ANALYST: | Williams | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
|
NFI |
||||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
Gaming Control Board
Racing Commission
SUMMARY
Synopsis of Bill
The bill would require a gaming operator licensee racetrack to submit an annual, independent audit of the licensee's financial records. The bill would change the minimum number of live racing required to 36 live races in each calendar week during the licensed race meet. The effective date of the bill is July 1, 2001.
Significant Issues
Racing Commission notes an annual independent audit of racetrack financial records is currently required via regulation. This bill would explicitly make that requirement in law.
Thirty-six days of live race could allow racetracks to offer anywhere from two to four race days per week, while they conduct the live race meet. The Racing Commission notes these provisions could possibly reduce overall live race days within the state.
FISCAL IMPLICATIONS
No Fiscal Impact.
AW/ar