3 Del. Admin. Code § 502-15.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 502-15.0 - Investment Plan and Use of Fees

15.1 All proceeds received pursuant to 29 Del.C. § 4815(b)(4) b.2., which established in the State of Delaware a Delaware Standardbred Breeder's Program and any interest earned on these monies shall be invested in an endowment account until race year 2002.

15.2 For race year 2002, five hundred thousand dollars ($500,000) of the proceeds received pursuant to 29 Del.C. § 4815(b)(4) b.2., which established in the State of Delaware the Program and any interest earned on that money in the preceding twelve (12) months shall be deposited in a separate purse account for purses and bonus for that race year. For race year 2002, one million five hundred thousand dollars ($1,500,000) of the proceeds pursuant to 29 Del.C. § 4815(b)(4) b.2., which established in the State of Delaware the Program, shall be deposited in the endowment account.

15.3 For race year 2003, two million dollars ($2,000,000) of the proceeds received pursuant to 29 Del.C. § 4815(b)(4) b.2., which established in the State of Delaware the Program and any interest earned on the endowment fund in the preceding twelve (12) months shall be deposited in a separate purse account for purses and bonus for that race year.

15.4 For the year 2004 and each race year thereafter, three million dollars ($3,000,000) of the proceeds received pursuant to 29 Del.C. § 4815(b)(4) b.2., which established in the State of Delaware the Program and any interest earned on the endowment fund in the preceding (12) twelve months shall be deposited in a separate purse account for purses and bonuses for that race year.

15.5 For the year 2022 and each race year thereafter, four million dollars ($4,000,000) of the proceeds received pursuant to 29 Del.C. § 4815(b) which established in the State of Delaware the Program and any interest earned on the endowment fund in the preceding (12) twelve months shall be deposited in a separate purse account for purses and bonuses for that race year.

15.6 Any monies from the purse account for the Program at the end of the race year shall revert to the endowment account of the Program.

3 Del. Admin. Code § 502-15.0

5 DE Reg. 1274 (12/01/01)
6 DE Reg. 1497 (05/01/03)
7 DE Reg. 497 (10/01/03)
8 DE Reg. 336 (08/01/04)
9 DE Reg. 111 (07/01/05)
10 DE Reg. 982 (12/01/06)
13 DE Reg. 496 (10/01/09)
14 DE Reg. 646 (01/01/11)
15 DE Reg. 638 (11/01/11)
17 DE Reg. 203 (8/1/2013)
18 DE Reg. 691 (3/1/2015)
19 DE Reg. 486 (12/1/2015)
21 DE Reg. 146 (8/1/2017)
21 DE Reg. 564 (1/1/2018)
25 DE Reg. 169 (8/1/2021)
25 DE Reg. 273 (9/1/2021)
26 DE Reg. 551 (1/1/2023) (Final)