(1) For purposes of sections 2-1201 to 2-1218, licensed racetrack enclosure means all real property licensed and utilized for the conduct of a race meeting, including the racetrack and any grandstand, concession stand, office, barn, barn area, employee housing facility, parking lot, and additional area designated by the commission in accordance with the Constitution of Nebraska and applicable Nebraska law.

(2) The Nebraska State Fair Board, a county fair board, a county agricultural society for the improvement of agriculture organized under the County Agricultural Society Act, or a corporation or association of persons organized and carried on for civic purposes or which conducts a livestock exposition for the promotion of the livestock or horse-breeding industries of the state and which does not permit its members to derive personal profit from its activities by way of dividends or otherwise may apply in a manner prescribed by the commission for a racetrack enclosure license to operate a licensed racetrack enclosure along with an application fee of ten thousand dollars. A racetrack enclosure license shall be valid for a period of three years. Such license may be renewed in a manner prescribed by the commission, and such application for renewal shall be accompanied by a fee of ten thousand dollars.

(3) A racetrack enclosure license issued pursuant to this section for purposes of operating a licensed racetrack enclosure is separate and distinct from the license required to conduct horseracing meets issued pursuant to section 2-1204.

(4) A licensee holding a license to conduct horseracing meets at a designated place within the state pursuant to section 2-1204 prior to September 3, 2025, shall be deemed to hold a racetrack enclosure license for such designated place within the state for purposes of this section and the Nebraska Racetrack Gaming Act until the commission acts upon the licensee's application for a racetrack enclosure license under this section.