The Federal Trade Commission (FTC) has approved a modification to the Horseracing Integrity and Safety Authority's Assessment Methodology Rule. This modification involves changes to how the Authority determines assessments to fund its programs.
According to the Horseracing Integrity and Safety Act, the Authority must submit proposed rules or modifications to the FTC for approval. The FTC is required to approve these submissions if they are "consistent with" the Act and its governing rules.
On October 23, 2024, the FTC published the proposed rule modification in the Federal Register, allowing public comments. The FTC had 60 days from publication to decide on approval. After considering received comments, the Commission found that the proposed modification aligns with both the Act and its own rules.
The original Assessment Methodology Rule was effective from April 2022 and was previously amended following proposals by the Authority under an FTC order on January 9, 2023. The newly approved modification will take effect on January 22, 2025.
The Commission unanimously voted 5-0 in favor of approving this rule modification.
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