Amends the Illinois Horse Racing Act of 1975. In provisions concerning stallions that qualify for Illinois Standardbred Breeders Fund breeding, removes language requiring the stallion to be owned by a resident of Illinois or a corporation in which all shareholders, directors, officers, and incorporators are residents of Illinois. Removes language prohibiting semen from being transported outside of Illinois. Removes language requiring the stallion's owner to be a resident of Illinois the previous 12 months. Removes language requiring that certain agreements for ownership or transfer of interest in a stallion must restrict ownership or transfer of interest to a resident of Illinois. Removes the requirement that the mare be inseminated within the State of Illinois. Effective immediately.