Current through Register Vol. XLI, No. 50, December 13, 2024
Section 178-9-2 - Definitions2.1. "Capital improvement means amounts paid or incurred to add to the value, or substantially prolong the useful life, of property owned by a racetrack or to adapt such property to a new or different use, as defined by the Internal Revenue Code, 26 U.S.C. § 263.2.2. "Commission" means the West Virginia Racing Commission.2.3. "Director of Audit" means the person employed by the West Virginia Racing Commission in accordance with West Virginia Code § 19-23-5(b), 178 W.Va. C.S.R. 1, § 5.4., and 178 W. Va. C.S.R. 2, § 4.4.2.4. "Executive Director" means the person employed by the West Virginia Racing Commission in accordance with West Virginia Code § 19-23-5(a).2.5. "Racetrack" means a thoroughbred or greyhound racetrack licensed by the West Virginia Racing Commission to conduct horse or dog racing for a purse where the pari-mutuel system of wagering is permitted.