2006 Kentucky Revised Statutes - .3615   Limitation on commission of operator of thoroughbred race track -- Breaks -- Payment for backside improvement fund.

230.3615 Limitation on commission of operator of thoroughbred race track -- Breaks -- Payment for backside improvement fund. (1) The commission, including the tax levied in KRS 138.510, deducted from the gross amount wagered by the association which operates a race track under the jurisdiction of the Kentucky Horse Racing Authority and conducts the thoroughbred racing at which betting is conducted through a pari-mutuel or other similar system, in races where the patron is required to select one (1) horse, and the breaks, which breaks shall be made and calculated to the dime, shall not be more than sixteen percent (16%) at the discretion of those tracks averaging over one million two hundred thousand dollars ($1,200,000) in on-track pari-mutuel handle per day of live racing conducted by the association. The commission at those tracks averaging one million two hundred thousand dollars ($1,200,000) or less in on-track pari- mutuel handle per day of live racing conducted by the association, at the discretion of such track, shall not be more than seventeen and one-half percent (17.5%) in races where the patron is required to select one (1) horse, and the breaks, which breaks shall be made and calculated to the dime. (2) The commission at those tracks averaging over one million two hundred thousand dollars ($1,200,000) in on track pari-mutuel handle per day of live racing conducted by the association, including the tax levied in KRS 138.510, deducted from the gross amount wagered by the person, corporation, or association which operates a race track under the jurisdiction of the Kentucky Horse Racing Authority and conducts thoroughbred racing at which betting is conducted through a pari-mutuel or other similar system shall not exceed nineteen percent (19%) of the gross handle in races where the patron is required to select two (2) or more horses, and the breaks, which breaks shall be made and calculated to the dime. The commission, at those tracks averaging one million two hundred thousand dollars ($1,200,000) or less in on track pari-mutuel handle per day of live racing conducted by the association, including the tax levied in KRS 138.510, deducted from the gross amount wagered by the association which operates a race track under the jurisdiction of the Kentucky Horse Racing Authority and conducts thoroughbred racing at which betting is conducted through a pari-mutuel or other similar system shall not exceed twenty-two percent (22%) of the gross handle in races where the patron is required to select two (2) or more horses, and the breaks, which breaks shall be made and calculated to the dime. (3) The minimum wager to be accepted by any licensed association may be one dollar ($1). The minimum pay-off on a one dollar ($1) wager shall be one dollar and ten cents ($1.10); but, in the event of a minus pool, the minimum pay-off for a one dollar ($1) wager shall be one dollar and five cents ($1.05). (4) Each association conducting thoroughbred racing and averaging one million two hundred thousand dollars ($1,200,000) or less in on-track pari-mutuel handle per day of live racing conducted by the association shall pay to the authority all moneys allocated to the backside improvement fund in an amount equal to one-half of one percent (0.5%) of its on-track pari-mutuel wagers. Effective: July 13, 2004 History: Amended 2004 Ky. Acts ch. 191, sec. 17, effective July 13, 2004. -- Repealed, reenacted, and amended 1992 Ky. Acts ch. 109, sec. 8, effective March 30, 1992. -- Amended 1990 Ky. Acts ch. 159, sec. 3, effective July 13, 1990. -- Amended 1986 Ky. Acts ch. 214, sec. 1, effective July 15, 1986; and ch. 296, sec. 2, effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 343, sec. 1, effective July 15, 1980. -- Amended 1976 Ky. Acts ch. 343, sec. 2, effective June 17, 1978. -- Amended 1970 Ky. Acts ch. 258, sec. 1. -- Amended 1956 Ky. Acts ch. 13, sec. 1. -- Amended 1954 Ky. Acts ch. 76, sec. 1. -- Created 1948 Ky. Acts ch. 35, sec. 1. Formerly codified as KRS 138.515.