PROHIBIT WAGERS BY COMMISSIONER S.B. 1052: COMMITTEE SUMMARY
Senate Bill 1052 (as introduced 2-21-06)
Sponsor: Senator Jason E. Allen
Committee: Gaming and Casino Oversight
Date Completed: 5-9-06
CONTENT
The bill would amend the Horse Racing Law to prohibit the Racing Commissioner or a member of the immediate family of the Racing Commissioner from participating in wagering permitted under the Law or conducted by a person or an affiliate of a person licensed or applying for a license under the Law.
The prohibition would not apply to wagering that was part of surveillance, security, or other official duties for the Office of the Racing Commissioner.
Under the bill, "member of the immediate family" would mean the spouse, child, parent, or sibling. "Affiliate" would mean a person who, directly or indirectly, controls, is controlled by, or is under common control with; is in a partnership or joint venture with; or is a coshareholder of a corporation, comember of a limited liability company, or copartner in a limited liability partnership with the person who holds or applies for a race meeting or track license under the Law. A controlling interest would be the beneficial ownership of more than 5% of a corporation whose stock is widely held, publicly traded, and regulated by the Securities and Exchange Commission, or any beneficial ownership of a privately held corporation or of a firm, partnership, association, or other legal entity.
MCL 431.302 & 431.304 Legislative Analyst: Curtis Walker
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Fiscal Analyst: Bruce Baker
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. sb1052/0506