Pari-mutuel regulation. |
11LSO-0067.C1 |
FISCAL NOTE
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FY 2012 |
FY 2013 |
FY 2014 |
NON-ADMINISTRATIVE IMPACT |
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Anticipated Revenue Increase: |
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SPECIAL REVENUE FUND |
200,000 |
250,000 |
300,000 |
Source of Revenue Increase:
Source market fees paid by out-of-state simulcast facilities
Assumptions:
The Pari-Mutuel Commission assumes $2 million in gross receipts of all pari-mutuel wagering by Wyoming residents conducted by such persons at out-of-state simulcast facilities. The above estimates also assume the source market fees are 10 percent of gross receipts. However, the actual percent collected may be lower.
The proposed legislation specifies that source market fees will be distributed as follows: 75 percent to the live flat track permittees in this state to enhance purses at those tracks; 10 percent to in-state simulcast permittees; 10 percent to the breeder award fund; and 5 percent to the Pari-Mutuel Commission for administrative expenses.
NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED
This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations. The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:
Wyoming Pari-Mutuel Commission
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Prepared by: Lisa Jeremiah, LSO Phone: 777-7881
(Information provided by Charles E. Moore, Wyoming Pari-Mutuel Commission, phone 265-4015)