OLYMPIA–A bill in the Washington State Senate, if signed into law, could provide needed funds to allow local horse racing organizations to resume horse race meets.

Senate Bill 5364 was introduced by Senator Phil Fortunato (R-Auburn) January 27. It received its first reading and was referred to the Labor, Commerce & Tribal Affairs committee.

The bill, which is patterned after a similar law in Texas, would set aside sales taxes on equine-related products such as equines, equine feed, prescription drugs, over-the-counter equine drugs, equine dietary supplements, tack, bedding, grooming supplies and other taxable sales directly related to equine ownership, riding or boarding.

Half of the revenue that is deposited into the state's general fund will be placed in a separate account. Bill supporters estimate this amount to be about $7 million a year.

Beginning with the 2022 fiscal year, the money would be allocated to the Washington State Horse Racing Commission. Seven and one-half percent would go to the WSHRC operation account; seven and one half percent would go to the WSHRC for breeder awards.

The remaining 85% would be in a WSHRC account, ten percent of that allocated to support nonprofit race meets based on a per-approved live race day allocation, not to exceed $60,000 per race day.

Fifteen percent of the funds would be awarded as grants to support equine activities, breeding and racing industries, and 60% would be allocated to Class 1 racing associations, of which 75% shall be for purses and the remainder for equine health, safety programs and research, and facility improvements and maintenance.