FAIRGROUNDS RACETRACK AUTHORTY

Creates the Illinois State Fairgrounds Racetrack Authority Act. Creates the Illinois State Fairgrounds Racetrack Authority to promote, operate, and maintain horse racing operations through a racing contractor in the Illinois State Fairgrounds. Provides the duties and powers of the Authority, including the duty to transition the conduct of horse racing at the Illinois State Fairgrounds from an annual race meeting that is contained within the duration of the Illinois State Fair to an annual standardbred race meeting that lasts from 3 to 9 months, depending on funding and market conditions. Provides that the Authority shall have concurrent jurisdiction with the Department of Agriculture over all of the real estate of the Illinois State Fairgrounds that is used for horse racing; however, when it is necessary to have controlling jurisdiction over this real property to obey a mandate of the Illinois Racing Board, the Authority shall have controlling jurisdiction. Makes corresponding changes in the State Fair Act. Amends the Illinois Horse Racing Act of 1975 to authorize the Illinois Racing Board to issue a license to the Illinois State Fairgrounds Racetrack Authority authorizing the pari-mutuel system of wagering on live harness and Quarter Horse races, inter-track wagering, simulcast wagering, and advanced deposit wagering (if otherwise authorized by law) through a racing contractor for up 9 months of each year at the Illinois State Fairgrounds in Sangamon County. Revenues received by the Board from this license shall be deposited into the General Revenue Fund. Amends the Riverboat Gambling Act to distribute certain proceeds from electronic gaming, if electronic gaming is authorized under the Act. Effective immediately.