EQUINE RESEAR PROMO

Amends the Illinois Equine Research and Promotion Act. Exempts multi-species feed and feed sold in units smaller than 50 pounds from the definition of "commercial equine feed". Requires a referendum by qualified equine owners in 2008 and every 5 years thereafter to determine whether assessments will continue. Requires the Illinois Equine Industry Research and Promotion Board to set an assessment rate between $2 and $10 per equine per year (rather than $2 per ton or 5 cents per 50 pound bag of commercial equine feed). Allows the Board to establish an alternative method of assessment and means of collecting except that the Board may not establish an assessment on commercial equine feed. Provides that a refund of an assessment shall be payable within one year or 365 days (rather than 60 days) after the assessment.