US Laws, Codes, Statutes & Cases

 
    §  509-a.  Capital  acquisition  fund.  The corporation may create and
  establish a capital acquisition fund for the purpose  of  financing  the
  acquisition,   construction  or  equipping  of  offices,  facilities  or
  premises of the corporation. Such capital acquisition fund shall consist
  of (i) the amounts specified pursuant to subdivision three-a of  section
  five hundred thirty-two of this chapter; and (ii) contributions from the
  corporation's  pari-mutuel  wagering  pools,  subject  to  the following
  limitations:
    (1) no contribution shall exceed the amount  of  one  percent  of  the
  total   pari-mutuel   wagering  pools  for  the  quarter  in  which  the
  contribution is made;
    (2) no contribution shall reduce the amount of quarterly net revenues,
  exclusive of surcharge revenues, to an amount less than fifty percent of
  such net revenues; and
    (3) the balance of the fund shall not exceed the lesser of one percent
  of total pari-mutuel wagering pools for the previous  twelve  months  or
  the  undepreciated  value  of  the corporation's offices, facilities and
  premises.