Louisiana lawmakers adopt amendment set to enhance horse racing funding and breeder awards

The Louisiana Legislature's Commerce Committee convened on May 12, 2025, to discuss a series of amendments related to horse racing and wagering regulations in the state. The meeting focused on amendment set number 2,553, which includes eight specific amendments aimed at enhancing the horse racing industry in Louisiana.

The first amendment outlines the types of wagering permitted within the state. The second amendment allows appropriations to the Louisiana Racing Commission to be utilized for breeder awards and purses. The third amendment adjusts the percentage of funds allocated to supplement racing purses by the Louisiana Thoroughbred Breeders Association, changing it from 75% to 55%. This change prompted questions from committee members regarding the rationale behind the reduction.

Executive Director of the Louisiana Horsemen's Benevolent and Protective Association, Edwin Finasse, explained that the reallocation of funds aims to support breeder award programs, thereby incentivizing horse breeding within the state. This adjustment is reflected in amendment number seven, which allocates 14% of funds for breeder awards, emphasizing the economic benefits of local horse breeding.

Further amendments specify that funds are to be provided to the horseman's bookkeeper for each licensed racing association and allow licensees to accept fixed odds wagers with the consent of the racetrack and the horsemen's association.

Following discussions, Representative Newell moved to adopt the amendment set, which was approved without objections. The committee then proceeded to favorably advance House Bill 547 as amended, highlighting the importance of the legislation in promoting investment and economic growth within Louisiana's horse racing sector.

Overall, the meeting underscored a collaborative effort among legislators to strengthen the horse racing industry, with a focus on supporting local breeders and enhancing the state's economic landscape.