HORSE RACING PURSE S.B. 837 (S-2): FLOOR ANALYSIS
Senate Bill 837 (Substitute S-2 as reported by the Committee of the Whole)
Sponsor: Senator Bob Emerson
Committee: Appropriations
CONTENT
The bill would amend the Horse Racing Law to require a purse supplement of at least $1,000 for overnight races at fairs. However, if the average purse offered for maiden races of the same breed at any licensed race meeting in the State during the previous year were less than $1,000, purse supplement could not exceed that average.
MCL 431.320
FISCAL IMPACT
The bill would have no net fiscal impact on the State. The bill would enable fairs to maintain the current practice of offering purse supplements of $1,000 for the 2006 season from the Michigan Agriculture Equine Industry Development Fund. Without the enactment of this legislation, fairs will be limited to a maximum race purse of $800, due to the fact that a licensed race offered one race with an $800 purse in 2005, setting the maximum under current law for the more than 300 fair races to be held this season.
Date Completed: 5-10-06 Fiscal Analyst: Bruce Baker
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. sb837/0506