71 IAC 12-2-15 Allocation of riverboat gambling admissions tax revenue

Sec. 15. (a) An association must be racing live in order to be eligible to receive distributions of riverboat gambling admissions tax revenue pursuant to this section. (b) The commission shall allocate the riverboat gambling admissions tax revenue distributed to the commission by the treasurer of state pursuant to IC 4-33-12-6 as follows: (1) Nineteen and six-tenths percent (19.6%) divided between the standardbred breed development fund, thoroughbred breed development fund, and quarter horse breed development fund as established by the commission under IC 4-31-11-10 as follows: (A) Forty-eight (48%) to standardbred breed development. (B) Forty-eight (48%) to thoroughbred breed development; and (C) Four (4%) to quarter horse breed development. (2) Thirty-nine and two-tenths percent (39.2%) to purses for the benefit of horsemen, which shall be divided forty-nine percent (49%) to standardbred purses, forty-nine percent (49%) to thoroughbred purses, and two percent (2%) to quarter horse purses. If more than one (1) track races standardbreds or thoroughbreds, purses for that breed shall be divided to the purse accounts of the tracks in question proportionally based upon the number of live race dates for that breed. If more than one (1) track races quarter horses, purses for that breed shall be divided to the purse accounts of the tracks in question proportionally based upon the number of live races for that breed. To the extent practical, the revenue received under this subsection shall be distributed as purses for the benefit of horsemen in the year in which the revenue is received. (3) In a year in which only one (1) association conducts live pari-mutuel racing, forty-one and two-tenths percent (41.2%) shall go to the association after the first five hundred thousand ($500,000) is distributed as follows: (A) Two hundred thousand ($200,000) to the thoroughbred development fund. (B) Two hundred thousand ($200,000) to the standardbred development fund. (C) One hundred thousand ($100,000) to the quarter horse development fund. Such revenue may be used by the association for purses, promotions, and routine operations of the race track. Provided, however, that such monies shall not be used for long term capital investment or construction. (4) In a year in which more than one (1) association conducts live pari-mutuel racing, forty-one and two-tenths percent (41.2%) to the associations, which shall be divided equally between associations if each association races an extended race meet of both standardbred and thoroughbred/quarter horse as defined by 71 IAC 1-1-41.5 and 71 IAC 1.5-1-37.5.