Senate Bill 0440

    Florida Senate - 1998                                   SB 440

    By the Committee on Regulated Industries





    315-552-98

  1                      A bill to be entitled

  2         An act relating to pari-mutuel wagering;

  3         providing legislative intent relating to

  4         thoroughbred horse taxes; reenacting s.

  5         550.2625(1), F.S., relating to minimum purse

  6         requirements; providing an effective date.

  7

  8  Be It Enacted by the Legislature of the State of Florida:

  9

10         Section 1.  Pari-mutuel wagering at thoroughbred horse

11  racetracks in this state is an important business enterprise,

12  and taxes derived therefrom constitute a part of the tax

13  structure that funds operation of the state. Thoroughbred

14  horse permitholders should pay their fair share of these taxes

15  to the state.

16         Section 2.  Subsection (1) of section 550.2625, Florida

17  Statutes, is reenacted to read:

18         550.2625  Horseracing; minimum purse requirement,

19  Florida breeders' and owners' awards.--

20         (1)  The purse structure and the availability of

21  breeder awards are important factors in attracting the entry

22  of well-bred horses in racing meets in this state which in

23  turn helps to produce maximum racing revenues for the state

24  and the counties.

25         Section 3.  This act shall take effect upon becoming a

26  law.

27

28            *****************************************

29                          SENATE SUMMARY

30    Reenacts s. 550.2625(1), F.S., relating to minimum purse
      requirements.
31

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