Commission expenses are to be paid out of the fund, and any surplus deposited in the newly created Horse Racing for Education Fund. The Commission is authorized to promulgate rules and regulations governing pari-mutuel wagering. The Commission is required to determine whether associated pari-mutuel facilities, where simulcasting is allowed, are in the public interest and that such facilities are economically feasible. Applicants for licensing must be either residents of Missouri or incorporated, formed or organized in the state. The Commission may license an applicant to operate one or more race tracks and no more than five associated pari-mutuel facilities.
Licenses are valid unless revoked for cause.
If an applicant is denied a license, a refund of the difference between the fee and the investigation costs is required. Good faith affirmative action efforts are required of all applicants. This proposal also limits licensing associated pari-mutuel wagering to licensees with a live race track which run within 3 years of license date and maintain at least 21 days of live racing in Missouri, and requires applicants which are not related to the state fair to provide a permanent racing facility with an initial investment of at least fifty million dollars. The Commission is required to approve associated pari-mutuel wagering systems. The system may be physically located outside the state.