Alabama HB262 establishes a state privilege tax on historical racing activities and repeals local taxes on pari-mutuel wagering.

Alabama HB262 introduces a new state privilege tax on historical racing activities, set at four percent of net revenues, effective October 1, 2026. This tax replaces all other state and local privilege taxes on pari-mutuel wagering. The bill also restricts historical racing activities to specific authorized locations. Additionally, it repeals several local taxes on pari-mutuel wagering, including those in Class municipalities and certain counties.

Alabama HB262 establishes a state privilege tax on historical racing activities and repeals local taxes on pari-mutuel wagering.

Alabama HB262 introduces a new state privilege tax on historical racing activities, set at four percent of net revenues, effective October 1, 2026. This tax replaces all other state and local privilege taxes on pari-mutuel wagering. The bill also restricts historical racing activities to specific authorized locations. Additionally, it repeals several local taxes on pari-mutuel wagering, including those in Class municipalities and certain counties.