Vote Smart's Synopsis:

Vote to pass a resolution that submits a constitutional amendment to the voters that authorizes historic gambling.

Highlights:

• Authorizes the licensing and regulation of wagering on the results of live or replayed horse races, either within or outside of the state, by the “pari-mutuel method”, when such wagering is conducted by licensees within a licensed racetrack enclosure (Sec. 1).

• Appropriates funds from a regulatory tax placed on wagering by the “pari-mutuel method” by the following percentages (Sec. 1):
• Of the remaining funds, 49 percent to elementary and secondary education; 
• Of the remaining funds, 49 percent to the reduction of property taxes; and
• Of the remaining funds, 2 percent to the Compulsive Gamblers Assistance Fund.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a resolution that submits a constitutional amendment to the voters that authorizes historic gambling.

Highlights:

• Authorizes the licensing and regulation of wagering on the results of live or replayed horse races, either within or outside of the state, by the “pari-mutuel method”, when such wagering is conducted by licensees within a licensed racetrack enclosure (Sec. 1).

• Appropriates funds from a regulatory tax placed on wagering by the “pari-mutuel method” by the following percentages (Sec. 1):
• Of the remaining funds, 49 percent to elementary and secondary education; 
• Of the remaining funds, 49 percent to the reduction of property taxes; and
• Of the remaining funds, 2 percent to the Compulsive Gamblers Assistance Fund.

Full Bill Text