HOUSE BILL REPORT

SB 6022

As Reported by House Committee On:

Commerce & Labor

Title:  An act relating to changing from five years to fifteen years the time that certain amounts are awarded to owners and breeders.

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

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

Brief History:

Committee Activity:

Commerce & Labor:  3/21/01 [DP].

  Brief Summary of Bill

$The distribution of moneys from the owners= fund and the breeders= fund to race track owners is authorized for an additional 10 years.

HOUSE COMMITTEE ON COMMERCE & LABOR

Majority Report:  Do pass. Signed by 8 members: Representatives Clements, Republican Co‑Chair; Conway, Democratic Co‑Chair; B. Chandler, Republican Vice Chair; Wood, Democratic Vice Chair; Hunt, Kenney, Lisk and McMorris.

Staff:  Sydney Forrester (786‑7120).

Background:

A for-profit racing association licensed by the Washington Horse Racing Commission is required to withhold a percentage of its wagers for the purpose of distribution to specific funds.

The Owners= Fund:  A racing association withholds 1 percent of gross parimutuel wagers.  The commission distributes one-half of this amount to the owners of Washington-bred horses finishing first, second, third, or fourth in meet races.  The second half is distributed to race track owners.

The Breeders= Fund:  A racing association withholds 1 percent of total multiple wagers.  The commission distributes 75 percent of this amount to the breeders of Washington-bred first-place finishers.  The remaining 25 percent is retained by track owners.

In 1991 the Legislature authorized these distributions from the owners= fund and the breeders= fund to newly licensed race track owners for a period of five years.  At the time there was no race track in western Washington, and the purpose was to provide an incentive for new track development by creating a means of defraying construction costs.  The five-year distribution period ends June 2001.  An additional 10 years remain on the mortgage of the western Washington race track.

Summary of  Bill:

The distribution of moneys from the owners= fund and the breeders= fund to race track owners is authorized for an additional 10 years.

Appropriation:  None.

Fiscal Note:  Not requested.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

Testimony For:  None.

Testimony Against:  None.

Testified:  None.