The Florida Legislature has approved a budget that includes tax relief measures for cardrooms and horse racing tracks. Key among these is a 2% reduction in the pari-mutuel tax on cardrooms, lowering the rate from 10% to 8%, effective in August, aimed at helping these venues maintain employment and property tax contributions in their communities. Additionally, the budget eliminates slot licensing fees for thoroughbred racing facilities and expands the application of a lower 0.5% tax rate on intertrack wagering, providing further financial relief to the racing industry with minimal impact on state revenues.

To support the horse racing sector, the budget allocates $5 million from the Florida Agricultural Promotional Campaign Trust Fund to promote the industry, distributing funds between Tampa Bay Downs and Gulfstream Park Racing Association. Lawmakers emphasized that these tax and fee cuts are intended to stabilize and sustain racing venues, which are crucial to the industry’s survival, rather than to encourage increased gambling. Both Rep. Wyman Duggan and Rep. Lawrence McClure highlighted the importance of these measures in preserving jobs and the economic contributions of cardrooms and racetracks across Florida.