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Pennsylvania Race Horse Development Fund - 4 Pa. Cons. Stat. § 1405

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     § 1405.  Pennsylvania Race Horse Development Fund.
        (a)  Fund established.--There is hereby established a
     Pennsylvania Race Horse Development Fund within the State
     Treasury.
        (b)  Pennsylvania race horse improvement assessment.--Each
     active and operating licensed gaming entity shall pay a daily
     assessment to the Pennsylvania Race Horse Development Fund as
     determined by the department. Subject to the daily assessment
     cap established under subsection (c), the licensed gaming
     entity's assessment shall be a percentage of each licensed
     gaming entity's gross terminal revenue, equal to an amount
     calculated as "A" multiplied by "B", with "A" being equal to
     each licensed gaming entity's gross terminal revenue for that
     day divided by the total gross terminal revenue for that day
     from all licensed gaming entities, and "B" being equal to 18% of
     that day's gross terminal revenue for all active and operating
     Category 1 licensees conducting live racing.
        (c)  Daily assessment cap.--If the resulting daily assessment
     for a licensed gaming entity exceeds 12% of that licensed gaming
     entity's gross terminal revenue for the day, the licensed gaming
     entity shall pay a daily assessment of 12% of its gross terminal
     revenue for that day.
        (d)  Distributions.--In accordance with section 1406
     (relating to distributions from Pennsylvania Race Horse
     Development Fund), the department shall make distributions from
     the Pennsylvania Race Horse Development Fund to each of the
     active and operating Category 1 licensees conducting live
     racing.

        Cross References.  Section 1405 is referred to in sections
     1103, 1313, 1401, 1406 of this title.

Last modified: November 27, 2007