2014 Idaho Statutes
Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES
Chapter 25 - HORSE RACING
Section 54-2512A - PARI-MUTUEL BETTING ON HISTORICAL HORSE RACES -- DISTRIBUTIONS OF DEPOSITS -- HISTORICAL HORSE RACE PURSE MONEYS FUND.

TITLE 54

PROFESSIONS, VOCATIONS, AND BUSINESSES

CHAPTER 25

HORSE RACING

54-2512A. pari-mutuel betting on historical horse races -- distributions of deposits -- historical horse race purse moneys fund. (1) Wagering on an historical horse race is declared to be lawful and within the scope of a license that authorizes a live race meet licensee to conduct and supervise the use of the pari-mutuel wagering on simulcast and/or televised races. Wagering on an historical horse race shall be conducted in accordance with the pari-mutuel system pursuant to the provisions of this chapter and in accordance with all rules promulgated by the commission. Wagering on an historical horse race may be conducted at any facility authorized to conduct and supervise wagering on simulcast and/or televised races.

(2) Each licensee conducting the pari-mutuel system for historical horse races shall distribute and pay all sums deposited in any historical horse race pool as follows:

(a) No less than eighty-nine percent (89%) of gross daily receipts in various wagering pools established to fund reserves and payoffs for distribution and payment to winning wagers;

(b) One and one-half percent (1.50%) of gross daily receipts to the Idaho state racing commission for distribution and deposit as follows in the following designated accounts:

(i) One-half of one percent (0.50%) of gross daily receipts to the racing commission account within the state regulatory fund;

(ii) One-fifth of one percent (0.20%) of gross daily receipts to the track distribution account within the pari-mutuel distribution fund;

(iii) One-fifth of one percent (0.20%) of gross daily receipts to the breed distribution account within the pari-mutuel distribution fund;

(iv) One-half of one percent (0.50%) of gross daily receipts to the public school income fund; and

(v) One-tenth of one percent (0.10%) of gross daily receipts to the Idaho horse council youth programs account which is hereby created within the pari-mutuel distribution fund; and

(c) The balance of gross daily receipts to the licensee. All moneys in these accounts are hereby continuously appropriated to the commission for further distribution and time of payment as provided in section 54-2513, Idaho Code.

(3) Each licensee conducting the pari-mutuel system for historical horse races shall enter into an agreement with a horsemen's group, as the term "horsemen's group" is defined in section 54-2502, Idaho Code, that shall address, but not be limited to, establishing the percentage of the historical horse race handle that is dedicated to the live horse race purse structure. In addition, the agreement shall provide that all historical race purse moneys that are accrued as required by horsemen's agreements shall be held in the historical horse race moneys fund created pursuant to the provisions of this section.

(4) The historical horse race purse moneys fund is hereby created in the state treasury. Moneys in the fund shall consist of all historical horse race moneys that are accrued as required by horsemen's agreements. Moneys in the fund are hereby perpetually appropriated to the Idaho state racing commission for distribution pursuant to the provisions of horsemen's agreements and rules of the commission. The commission is authorized to promulgate rules providing for the receipt, deposit, withdrawal and distribution of such moneys. The state treasurer shall invest idle moneys in the fund and any interest received on those investments shall be returned to the fund which is created pursuant to the provisions of this section.

(5) The commission may promulgate rules pursuant to chapter 52, title 67, Idaho Code, to implement the provisions of this section.

History:

[54-2512A, added 2013, ch. 139, sec. 3, p. 334.]