Indiana § 4-31-11-15 Development funds; uses

Indiana Statutes

§ 4-31-11-15 — Development funds; uses

Indiana·Art. 31 PARI-MUTUEL WAGERING ON HORSE RACES·Ch. 11 Breed Development Advisory Committees and Breed

The commission shall use the development funds to provide purses and other funding for the activities described in section 9 of this chapter. The commission may pay:

(1)the operating costs of the development programs;

(2)other costs of administering this chapter; and

(3)costs incurred to promote the horse racing industry in Indiana; from one (1) or more of the development funds. However, the amount used for each state fiscal year from these development funds to pay these costs may not exceed four percent (4%) of the amount distributed to those funds during the immediately preceding state fiscal year under IC 4-35-7-12.

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The commission shall use the development
funds to provide purses and other funding for the activities described
in section 9 of this chapter. The commission may pay:
(1) the operating costs of the development programs;
(2) other costs of administering this chapter; and
(3) costs incurred to promote the horse racing industry in Indiana;
from one (1) or more of the development funds. However, the amount
used for each state fiscal year from these development funds to pay
these costs may not exceed four percent (4%) of the amount distributed
to those funds during the immediately preceding state fiscal year under
IC 4-35-7-12.

Indiana § 4-31-11-15 (Development funds; uses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.