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1996 SESSION

964404739
HOUSE BILL NO. 1334
Offered January 22, 1996
A BILL to amend and reenact §§ 59.1-380 and 59.1-383 of the Code of Virginia, relating to the Virginia Racing Commission; licenses.
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Patrons-- Croshaw; Senator: Stolle
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Referred to Committee on General Laws
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Be it enacted by the General Assembly of Virginia:

1. That §§ 59.1-380 and 59.1-383 of the Code of Virginia are amended and reenacted as follows:

§ 59.1-380. Duration, form of owner's license; bond.

A license issued under § 59.1-378 shall be for the period set by the Commission, not to be less than twenty years, but shall be reviewed annually. The Commission shall designate on the license the duration of such license, the location of such track or satellite facility or proposed track or satellite facility and such other information as it deems proper. However, no such license to own a satellite facility shall become effective until live racing as described in the original, unamended license application, is conducted at a racetrack licensed pursuant to § 59.1-382. The Commission shall establish criteria and procedures for license renewal.

The Commission shall require a bond with surety acceptable to it, and in an amount determined by it, to be sufficient to cover any indebtedness incurred by the licensee to the Commonwealth.

§ 59.1-383. Duration, form of operator's license; bond.

A license issued under § 59.1-382 shall be for a period of twenty years from the date of issuance, but shall be reviewed annually. The Commission may, as it deems appropriate, change at the beginning of any year the dates on which the licensee is authorized to conduct a race meeting or pari-mutuel wagering. An applicant for renewal of a license may omit any information which in the opinion of the Commission is already available to it. The Commission shall establish criteria and procedures for license renewal.

Any license issued under § 59.1-382 shall designate on its face the type or types of horse racing or pari-mutuel wagering for which it is issued, the location of the track or satellite facility where such meeting or wagering is to be conducted, the period during which such license is in effect and such other information as the Commission deems proper. However, no such license to operate a satellite facility shall become effective until live racing, as described in the original, unamended license application, is conducted at a racetrack licensed pursuant to § 59.1-382.

The Commission shall require a bond with surety acceptable to it, and in an amount determined by it to be sufficient to cover any indebtedness incurred by such licensee during the days allotted for racing.

2. That an emergency exists and this act is in force from its passage.