An initiative amending chapter 25, title 54, Idaho code; contains findings and purposes; amends definition of historical horse race; adds new section authorizing historical horse race betting at certain locations where live or simulcast parimutuel horse race betting occurs; specifies requirements for historical horse race terminals; declares such terminals not to be slot machines; allocates revenue from historical horse race betting; requires licensees to enter into agreements with horsemen's groups; creates historical horse race purse moneys fund in state treasury; authorizes distribution by state racing commission and investment by state treasurer of fund monies; directs state racing commission to promulgate implementing rules; declares act effective upon voter approval and completion of voting canvass; and provides for severability.