HB 3332
Modifies the uses for certain moneys received by the Oregon Racing Commission from Multi-Jurisdictional Simulcasting and Interactive Wagering Totalizator Hubs.
Jurisdiction
Oregon
Session
2025 Regular Session
Committee
Commerce and Consumer Protection
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies how the Oregon Racing Commission uses money received from Multi-Jurisdictional Simulcasting and Interactive Wagering Totalizator Hubs. It requires recipients of these funds to spend them within 24 months and provide a report to the commission. If funds aren't spent or a report isn't filed, they must be returned to the commission and deposited into a Horse Racing Safety Fund. Additionally, the commission must enter into agreements with recipients outlining spending requirements and reporting deadlines.
Key provisions
- Requires recipients of racing hub funds to spend the money within 24 months.
- Requires recipients to provide detailed reports to the commission on how the money was spent.
- Establishes a Horse Racing Safety Fund to hold unspent or unreported funds.
- Specifies how the commission can use 10% of the received funds (operating expenses, safety initiatives, or industry support).
- Requires 15% of the received funds to be distributed to horse racing associations.
- Requires 75% of the received funds to be distributed for the benefit of the Oregon pari-mutuel racing industry.
- Sets a time limit (fiscal biennium) for the commission to spend retained funds.
- Outlines agreements the commission must enter into with recipients regarding spending and reporting.
Who is affected
- Oregon Racing Commission
- Multi-Jurisdictional Simulcasting and Interactive Wagering Totalizator Hubs
- Oregon Thoroughbred Owners and Breeders Association
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