§ 8 §298 — Fund to supplement harness racing purses

1.
Fund created.
A fund is established to supplement harness racing purses to which the commission shall credit all payments received pursuant to section 1036, subsection 2, paragraph B for distribution in accordance with this section. The fund is a dedicated, nonlapsing fund, and all revenues deposited in the fund remain in the fund and must be disbursed in accordance with this section, except that assessments and advances may be withdrawn in accordance with section 267‑A. The commission shall distribute in accordance with this section amounts credited to the fund.
2.
Distribution.
2-A.
Distribution.
On April 30th, July 30th, October 30th and January 30th of each year, all amounts credited to the fund established by this section as of the last day of the preceding month and not distributed before that day must be distributed to each commercial track, as defined in section 275‑A, subsection 1, to each agricultural fair licensee that conducts live racing on fair dates assigned by the commissioner pursuant to Title 7, section 84, to each agricultural fair licensee that conducts an extended meet as long as that licensee conducted an extended meet in 2005 and to each agricultural fair licensee awarded live race dates by the commission upon closure of an existing commercial track that is not replaced, with each commercial track and each agricultural fair licensee receiving an amount of money determined by multiplying the amount of money available for distribution by a fraction, the numerator of which is the total number of live race dashes assigned to the commercial track or agricultural fair licensee for the year and the denominator of which is the total number of race dashes assigned to all commercial tracks and agricultural fair licensees for the year. The payment in January must be adjusted so that for the prior year each commercial track or agricultural fair licensee entitled to a distribution receives that portion of the total money distributed for the full year from the fund established by this section that is determined by multiplying the total amount of money by a fraction, the numerator of which is the number of live race dashes conducted by the commercial track or agricultural fair licensee during the calendar year that qualify for a distribution and the denominator of which is the total number of race dashes conducted during that calendar year that qualify for a distribution. For purposes of this subsection, a race dash qualifies for distribution if the dash was conducted by a commercial track or by an agricultural fair licensee on dates assigned under Title 7, section 84 or during an extended meet. The funds distributed pursuant to this subsection must be used to supplement harness racing purses.
3.
Rules.
The commission may adopt rules to enforce the obligation of licensees to use funds distributed under this section to supplement harness racing purses and to require licensees to account for funds. Rules adopted pursuant to this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter 2‑A.

Legislative History

PL 2003, c. 687, §A3 (NEW). PL 2003, c. 687, §B11 (AFF). PL 2005, c. 563, §9 (AMD). PL 2005, c. 576, §1 (AMD). PL 2007, c. 183, §§1, 2 (AMD). PL 2007, c. 183, §3 (AMD). PL 2007, c. 539, Pt. G, §10 (AMD). PL 2007, c. 539, Pt. G, §15 (AFF). PL 2019, c. 626, §13 (AMD).