Thoroughbred Permitholders

Changed the requirement for thoroughbred permitholders to conduct live racing from an absolute mandate to a conditional requirement that allows them to stop conducting live racing after providing formal notice to the commission by July 1, 2028, with the notice period not being valid until at least 4 years after the notice date.

Revised tax rates for intertrack wagering on thoroughbred races, including changes to the tax percentage when the guest track is located outside the host track's market area but within a thoroughbred permitholder's market area.

Modified cardroom license renewal requirements for thoroughbred permitholders, changing the threshold from requiring a full schedule of live racing to requiring at least 90 percent of total live performances conducted during the prior fiscal year.

Removed the requirement that thoroughbred permitholders must conduct live racing as a condition for obtaining or renewing a slot machine license, replacing it with a provision that applies only until the permitholder formally notifies the commission of discontinuing live racing.

Established a specific transition timeline requiring thoroughbred permitholders to provide formal notice to the commission on or after July 1, 2028, with the notice specifying a date at least 4 years after the notice date for discontinuing live racing.