SB 274 - The Missouri Gaming Commission is given the power to regulate off-track pari-mutuel wagering. No person shall accept off-track pari-mutuel wagers for inclusion in an interstate common pari-mutuel pool unless he has received a license from the Commission to accept such wagers.

The Commission shall not issue a license to accept off-track pari- mutuel wagering unless the applicant is licensed and runs at least forty-five days of live racing in Missouri each year. Each day must have an average of eight races.

A fee of $50,000 is required of all applicants for an off-track pari- mutuel wagering license and the applicant must pay all 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 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 has full jurisdiction over, and shall supervise all off-track pari-mutuel wagering. This jurisdiction includes the ability to 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.

Two percent of the value of the off-track pari-mutuel wagers to be deducted as a commission on wagers shall be paid to the state to fund the activities of the Gaming Commission.

The act is similar to SCS/SBs 793 & 794 (1996).

DAVID VALENTINE