Louisiana Senate Bill SB62

Louisiana 2011 Regular Session

• Introduced: 4/25/11
• Refer: 4/25/11
• Report Pass: 5/2/11
• Engrossed: 5/4/11
• Refer: 5/5/11
• Report Pass: 6/6/11
• Enrolled: 6/14/11
• Chaptered: 6/20/11
• Passed: 6/20/11

Caption

Provides relative to certain horse racing funds, purses and breeders' awards. (8/15/11) (EN NO IMPACT SG EX See Note)

Impact

If enacted, SB62 would make significant changes to the funding mechanisms in place for horse racing in Louisiana. It proposes that a certain percentage of the total gross pari-mutuel handle wagered on horse races be allocated to make special awards to stallion owners and breeders based on the performance of their horses in sanctioned races. This change is seen as a potential boost to the local horse racing economy by incentivizing breeders and promoting the racing of horses bred within the state.

Summary

Senate Bill 62 seeks to amend existing legislation regarding the allocation of funds and awards associated with horse racing in Louisiana. Specifically, the bill outlines the distribution of funds appropriated by the legislature for the operation of the Louisiana State Racing Commission, focusing on financial support for stallions and breeders of accredited Louisiana-bred horses and quarter horses. The legislation aims to establish a more structured financial incentive system to promote the breeding and racing of Louisiana-bred horses, thereby enhancing the local horse racing industry.

Sentiment

General sentiments around SB62 appear favorable, particularly among stakeholders in the horse racing community who view it as a positive step towards supporting local breeders and enhancing the reputation of Louisiana as a competitive state in horse racing. However, there may be concerns regarding the financial implications for the Louisiana State Racing Commission in terms of budget management and allocations, as critics could argue the need for a careful examination of the funding sources.

Contention

One notable point of contention that may arise from this bill is the potential inequity in the distribution of funds and awards among different horse racing tracks and breeding operations. While the intention is to support accredited Louisiana-bred horses and their owners, some industry stakeholders might argue that the focus on financial awards could inadvertently favor certain breeding operations over others, causing rifts within the community. Thus, transparency in the allocation process will be crucial to ensuring that all stakeholders feel represented and fairly treated.