Federal Trade Commission Updates Process on HISA Budget
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The Federal Trade Commission has made updates to its rules of practice, establishing a formal process by which the Horseracing Integrity and Safety Authority can submit its budget to the FTC for review and an approval decision.
Under the Horseracing Integrity and Safety Act of 2020, the FTC is required to provide oversight of HISA, including over its budget. The new procedural rules establish requirements applicable to the HISA for its submission of proposed budgets to the FTC for review.
The new procedural rules identify what the HISA must submit to the FTC for evaluation and decide whether to approve or disapprove the proposed budget, as well as laying out basic requirements for the budget. When submitted, the proposed budgets will be made available for public comment.
The FTC vote to approve the changes to the FTC Rules of Practice was 3-0-1, with commissioner Christine S. Wilson not voting. The changes will be published in the Federal Register shortly.