Corrupt Horseracing Practices Act of 1981

Corrupt Horseracing Practices Act of 1981 - Prohibits the following conduct with respect to horseracing: (1) the entering of a horse in a race by its owner or trainer who knows or should know that the horse is drugged or numbed; (2) the drugging of a horse with reason to believe that it will compete in a race; and (3) the willful failure by the operator of a horseracing facility to disqualify or prohibit a horse from racing if such individual has been notified in accordance with this Act that such horse is drugged or numbed, was not available for testing, or has been suspended from racing.

Sets forth the penalties for such acts, and provides increased penalties for second offenses, use of a dangerous weapon in committing such offenses, and the interference with duties or the falsification of records required by this Act.

Provides for the disqualification of offenders from horseracing activities and the suspension of a drugged or numbed horse from racing, in accordance with specified procedures.

Grants the Administrator of the Drug Enforcement Administration certain investigatory and other powers with respect to such offenses.

Requires operators of horseracing facilities to comply with recordkeeping requirements established by the Administrator and to furnish testing space and facilities.

Directs the Administrator to: (1) exempt from this Act any State which has enacted a comparable program; and (2) submit biennial reports to Congress on matters covered by this Act.

Authorizes appropriations to carry out this Act. Permits the Administrator thereafter to assess fees upon operators of horseracing facilities to meet the costs of this Act.

Amends the Federal criminal code to include the offenses of this Act in the existing prohibition against interstate and foreign commerce in aid of racketeering enterprises.