The purposes of this compact are to: derive uniform requirements among the party states for the licensure of participants in live horse racing with pari–mutuel wagering; ensure that all licensees pursuant to this compact meet a uniform minimum standard of honesty and integrity; facilitate the growth of the horse racing industry by simplifying the process for qualified applicants for a license to participate in live racing; reduce the cost incurred by each state and applicant from the separate licensing process conducted by each state that conducts live horse racing; authorize the Commission to participate in this compact; permit officials from the party states to participate in this compact; through the compact committee established by this compact, enter into contracts with governmental agencies and other persons to carry out the purposes of this compact; and establish the compact committee created by this compact as an interstate governmental entity duly authorized to request and receive criminal history record information from: the Federal Bureau of Investigation; state and local authorities; and foreign law enforcement agencies.