HORSE RACING LAW OF 1995 (EXCERPT)
Act 279 of 1995
431.319 Payment into horsemen's purse account; disposition; distribution; payment of net commission on live and simulcast racing to the pari-mutuel horse racing disbursement account.
(1) Subject to subsection (2), a race meeting licensee shall pay an amount equal to not less than 25% and not more than 40% of the net commission generated at the licensee's race meeting to a site-specific horsemen's purse account. Money paid into a horsemen's purse account under this act must be deposited in a depository designated by the participating certified horsemen's organizations and distributed by their designated agent as follows:
(a) For purses for live horse races at a licensed race meeting in this state.
(b) Each year, all certified horsemen's organizations that participate in a live race meeting may receive an amount approved by order of the racing commissioner to use for general expenses. Beginning on January 1 and ending on December 31 of each year, the certified horsemen's organization is entitled to not less than 5% of the site-specific horsemen's purse account as ordered by the racing commissioner.
(2) A race meeting licensee shall pay the net commission generated from wagering on live and simulcast racing through the race meeting licensee's third-party facilitator to the pari-mutuel horse racing disbursement account. On the first day of each month after the effective date of the amendatory act that added this subsection, money paid into the pari-mutuel horse racing disbursement account must be distributed as follows:
(a) Fifty percent to be divided equally to each certified horsemen's organization.
(b) Fifty percent to be divided equally to each track licensee.
History: 1995, Act 279, Imd. Eff. Jan. 9, 1996
Am. 2016, Act 271, Imd. Eff. July 1, 2016
Am. 2019, Act 153, Imd. Eff. Dec. 20, 2019
Admin Rule: R 285.812.1 et seq. of the Michigan Administrative Code.
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