Relating to horse racing by transferring certain portions of the state sales tax for the purpose of supplementing horse race purses, and making appropriations

This bill transfers the portion of the state sales tax imposed on the purchase of certain supplies used in the care of race horses for the purpose of supplementing horse racing purses.9E. The bill creates a horse racing purse fund in the state treasury under the control of the state racing and gaming commission.7(5)(b). Prior to receiving supplemental horse racing purse moneys, the bill requires a licensee under Code chapter 99D (pari-mutuel wagering) that receives such payments from the commission to establish an escrow account under its control for the receipt and deposit of the moneys transferred by the commission to the licensee from the horse racing purse fund. 7(5)(b). The bill requires the department of revenue to assist the commission to identify retailers involved in the sale of horse-related care products that may be subject to the bill. The commission is required to adopt rules to administer the bill.