SB 354 - The act authorizes off-track pari-mutuel wagering in Missouri as regulated by the Missouri Gaming Commission.
The Commission shall not issue a license for off-track pari-mutuel wagering unless the applicant is licensed and runs at least twenty-one days of live racing in Missouri during a forty-five day period each year he is licensed. Each day must have an average of eight races. In the second and subsequent years of operation, the commission may authorize the licensee to operate at up to four locations.
A license cannot be issued except to a live racing facility or a facility located on an excursion gambling boat or on the adjoining property.
A fee of $50,000 is required of all applicants for an off-track pari-mutuel wagering license to pay for investigation costs. If the investigation costs exceed the total amount of fees paid by the applicant, the Commission may assess additional fees. If the applicant is denied a license, the applicant is entitled to a refund of the difference between the application fee and the actual cost of the investigation. Only Missouri residents and business entities incorporated or formed in Missouri are eligible for a license.
A licensee must agree to provide, on the request of the Commission, one and one-half percent of all commissions on wagers collected by the licensee for improving the Missouri horse racing industry by augmenting purses for horses bred in Missouri, and one percent, but not less than one hundred thousand dollars, for augmenting purses at live races operated by the licensee.
The Commission may assess penalties of up to $2,000 per day for violations of this act.
No off-track pari-mutuel licensee shall use an off-track pari-mutuel system unless the system has been approved by the Commission. In order to be approved by the Commission, a system must meet several guidelines.
The percentage of off-track pari-mutuel wagers to be deducted as a commission on wagers shall be distributed quarterly as follows:
1. Two percent shall be paid to the state.
2. One-half of one percent shall be paid to the "Missouri Elementary and Secondary Education Technology Fund", which is created for the purpose of providing training, instruction and education concerning computers and other advanced technologies to persons receiving an elementary or secondary education.
Weekly reports of the total amount of money wagered shall be filed with the Commission.
The operation of an off-track pari-mutuel wagering facility without a license or accepting wagers other than as permitted by this act is a Class A misdemeanor.
This act is similar to SCS/SBs 793 & 794 (1996).
DAVID VALENTINE