Bill description: Increases from 5 percent to 45 percent the amount the Racing Commission receives from the horse racing industry’s Advance Deposit Wagering Funds.
Analyst’s Note: Idaho policies have directly contributed to the decline of the horse and horse racing industries over the last two decades. The introduction of the state lottery in the 1990s through the sudden, immediate repeal of historical horse racing in 2015, the industry has experienced a rapid decline in revenues. As a result, the Racing Commission regulating the horse racing industry has seen its revenues decline. Senate Bill 1087 proposes the Commission increase its share of Advance Deposit Wagering Funds from 5 percent to 45 percent to offset the decrease by 80 percent of funds used to regulate the industry.
Does it directly or indirectly create or increase any taxes, fees, or other assessments?
This increase in the take from the Advance Deposit Wagering Funds is essentially an assessment on the industries that generate the revenue. (-1)