Senate Finance subcommittee hears testimony on South Carolina Equine Advancement Act

Columbia — The Senate Finance Subcommittee held a hearing on the South Carolina Equine Advancement Act on a bill to authorize advanced deposit wagering (ADW) on live horse racing, create a state Equine Commission and establish an Equine Industry Development Fund funded by a 5% takeout on in‑state wagers.

Senator Johnson, the bill’s primary sponsor, told the subcommittee the measure is intended “to improve the equine industry in our state” and to preserve racing, breeding and training operations that he said otherwise are being lured to other states. “This is a while it is a similar bill, it is also much narrower,” Johnson said, adding the bill is written to allow ADW betting only on live horse racing and not on slot machines or other gaming.

The bill as summarized by Grant Gibson, Senate Finance committee staff analyst, would: define ADW-related terms; create the South Carolina Equine Commission (comprised of the Department of Revenue director or designee, two appointees each from the Senate president and House speaker and two gubernatorial appointees); authorize one‑year ADW licenses with a $5,000 initial application fee and $1,000 annual renewal fee; require a monthly license fee of 1% of wagers paid to the commission; require an annual 5% fee of wagers to be deposited into a newly created Equine Industry Development Fund; and direct the commission…