FINAL BILL REPORT

SB 6022

C 53 L 01

Synopsis as Enacted

Brief Description:  Changing from five years to fifteen years the time that certain amounts are awarded to owners and breeders.

Sponsors:  Senators West, Prentice, Patterson, Roach, Rasmussen and Snyder.

Senate Committee on Labor, Commerce & Financial Institutions

House Committee on Commerce & Labor

Background:  Racing associations pay a bonus to the owners of Washington-bred horses that finish in the top four positions of a live race meet.  The bonus represents 1 percent of the total dollars wagered at the race track (called the handle).  Fifty percent of the bonus is used for a period of five years for reimbursement of capital construction costs for building a new race track.

Racing associations pay awards to the breeders of Washington-bred horses that win races.  The monies that pay these awards are 1 percent of the exotic wagers such as the exacta and daily double.  Of the 1 percent, 75 percent is paid to the breeders and 25 percent pays for reimbursement of capital construction costs of building a new race track for five years.

Summary:  The period of time for the bonus for owners and the awards for breeders to reimburse for capital construction costs of a new track is extended to 15 years.

Votes on Final Passage:

Senate480

House     92 0

Effective:  July 22, 2001