Horse racing and racetrack ownership.

Specifies that the horse racing commission (IHRC) may adopt rules that incorporate by reference the most current version of the model rules adopted by the Association of Racing Commissioners International. Removes certain obsolete references to emergency rules. Requires a permit holder to own the real property, including buildings, structures, and other improvements, on which a horse racing meeting is to be conducted. Prohibits a permit issued for a horse racing meeting from being leased. Provides that judges and stewards may suspend a license for not more than three years on behalf of the IHRC. (Current law allows judges and stewards to suspend a license for not more than one year on behalf of the IHRC.) Provides that the suspension of a license or the imposition of certain civil penalties must occur within 365 days after the date of the violation (instead of 180 days as required by current law). Provides that a horse's veterinary medical records and medical condition must be furnished within five business days without written client authorization to the IHRC as part of an investigation in which a horse under the care, control, or ownership of a licensee has been treated by a veterinarian.