This chapter is based upon the taxing power and the police power of the State and provides for the establishment, licensing, regulation, and control of the pari-mutuel system of wagering on horse races, and is for the protection of the public welfare and good order of the people of the State, the support and encouragement of agricultural fairs, and the improvement of the breeding of horses in Vermont. (Added 1959, No. 259, § 1; amended 1973, No. 233 (Adj. Sess.), § 1, eff. April 3, 1974; 1995, No. 12, § 2, eff. April 5, 1995; 2017, No. 113 (Adj. Sess.), § 176.)