HB1537: Simulcast horse racing; redefines to include live or pre-recorded races.

Chief Patron

Del. Tom Gear (R-91)

Tom Gear (R-91)
Hampton, VA
Served: 2002–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

02/12/2008: Failed to Pass in Committee

View Entire History

Summary

Horse racing; definitions; percentage retained.  Redefines simulcast horse racing to include live or pre-recorded horse races. The bill also provides that notwithstanding current allocations of proceeds from pari-mutuel pools, on pari-mutuel pools generated by wagering on pre-recorded simulcast horse racing at each Virginia satellite facility and the racetrack, after payment of all prizes to winning wagers, the Commonwealth Transportation Trust Funds shall receive 51 percent of the pool to be used for highway maintenance and any other purposes determined by law; the licensee shall receive 45 percent of the pool; and the horsemen's purse account shall receive four percent of the pool. Proceeds of pari-mutuel tickets unredeemed 180 days from the date on which the wager was made and the legitimate breakage from this form of simulcast horse racing shall be retained by the licensee.