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05-254 Louisiana State Racing Commission

The Louisiana State Racing Commission (LSRC) was established in 1940 by the Legislature to regulate horse racing in Louisiana and promote live horse racing in Louisiana. The LSRC is an agency within the Department of Economic Development in the executive branch of Louisiana state government. The Racing Commission is vested with the power to promulgate rules, regulations and conditions under which all horse racing and related wagering are conducted under the Commission’s jurisdiction within the State of Louisiana. The LSRC supervises, regulates and enforces all statues concerning horse racing and pari-mutuel wagering for live horse racing on track, off track, and by simulcasts. The LSRC verifies and collects all taxes due to the State of Louisiana; safeguards the assets of the LSRC; and, performs the daily administrative and regulatory requirements by operating the LSRC domicile in New Orleans and from on site field offices at the race tracks. Activities include issuance of licenses, steward’s decision, public meetings, creating regulations with mandatory compliance, and publishing an official Rules of Racing Manual.

The Racing Commission has only one program, Louisiana Racing Commission. Therefore the mission and goals of the Racing Commission are the same as those listed for the Racing Commission in the program description that follows.

BUDGET SUMMARY

This agency's recommended appropriation does not include any funds for short-term debt.

This agency does no have any long-term debt for Fiscal Year 1999-2000.

This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:

State General Fund by:

 

 

     Fees and Self gen. Revenues

 

$78,785

 

 

 

Total

 

$78,785


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