Section 71 IAC 9-2.2-7 - Payment to commission by permit holder and allocation of net source market feeAuthority: IC 4-31-7.5-11
Affected: IC 4-31-7.5-18
Sec. 7.
(a) Each permit holder shall not later than the end of each month pay to the commission as an advance deposit wagering fee an amount equal to sixty percent (60%) of the net source market fee received from a licensed SPMO during the preceding month.(b) The commission shall use twenty-five percent (25%) of the revenue received from advance deposit wagering fees under subsection (a) to promote horse racing at the state fair and county fairs.(c) The commission shall use seventy-five percent (75%) of the revenue received to promote and encourage Indiana horse owner and horse trainer participation at a permit holder's horse racing facility as follows:(1) Eight percent (8%) of the revenue described shall be distributed to the horsemen's association representing quarter horses.(2) Forty-six percent (46%) of the revenue shall be distributed to the horsemen's association representing standardbred owners and trainers.(3) Thirty-six and eight-tenths percent (36.8%) of the revenue shall be distributed to the horsemen's association representing thoroughbred owners and trainers.(4) Nine and two-tenths percent (9.2%) of the revenue shall be distributed to the horsemen's association representing thoroughbred owners and breeders.Indiana Horse Racing Commission; 71 IAC 9-2.2-7; emergency rule filed Aug 29, 2018, 11:12 a.m.: 20180905-IR-071180370ERAReadopted filed 7/6/2023, 1:50 p.m.: 20230802-IR-071230371RFANOTE: Agency cited as 71 IAC 9-2.1-7, which was renumbered by the Publisher as 71 IAC 9-2.2-7.