(a) Upon request of recognized charities, the racing commission may extend the limitations of time for greyhound racing not to exceed three days at any one time beyond the period otherwise provided by law so that any such track shall conduct a charity day or days of racing for any one or more recognized charities in Alabama which has a tax exempt status as provided for under the Internal Revenue Code. The total of all profits derived from the operation of such racing on such charity days, including all monies which would otherwise be received by the racing commission as taxes for such day's operations, shall be and become a part of the charity trust fund for which such racing on such days is conducted. The charity trust fund shall be administered as directed by the racing commission.
(b) In determining profits derived from such racing on such charity days, which profits shall include all taxes payable to the county or any agency thereof for such day's operations, the tracks shall only be entitled to deduct from the profits, accruing from all receipts on such charity days of racing, their actual operating costs, which costs shall be those expenses incurred by the race track solely by reasons of holding the charity days of racing and shall not be deemed to include such expenses constant from day to day and which would have been incurred had the race on that day not been held, including, but not limited to, such items as capital expenditures, interest on debts, real estate taxes, and annual license fees, donations, bad debts, and such other items of daily or prorated expense as the racing commission may by rule prescribe.
Last modified: May 3, 2021