December 12, 2006, Introduced by Senator VAN WOERKOM and referred to the Committee on Agriculture, Forestry and Tourism.
A bill to amend 1995 PA 279, entitled
"Horse racing law of 1995,"
by amending section 19 (MCL 431.319).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 19. (1) All money designated by this act to be paid into
the
horsemen's simulcast purse pool , shall be deposited in a
depository designated by all participating certified horsemen's
organizations and distributed by their designated escrow agent as
follows:
(a)
50% of the funds money
generated from thoroughbred
simulcasts
for horsemen's purses and 35% of the
funds money
generated from standardbred simulcasts for horsemen's purses shall
be divided between all thoroughbred purse pools. The division shall
be on a pro rata basis between all thoroughbred race meeting
licensees
based upon the percentage of total thoroughbred handle ,
from
all sources, for the previous calendar year. As used in this
subdivision, "total thoroughbred handle" means the total of amounts
wagered on all of the following:
(i) Thoroughbred races conducted by race meeting licensees in
this state, regardless of whether the wager is made at the track
where the race meeting is held or at another location where the
race is simulcast.
(ii) Thoroughbred races conducted outside this state and
simulcast to this state, if the wager is made at a track licensed
under this act.
(b)
50% of the funds money
generated from thoroughbred
simulcasts
for horsemen's purses and 65% of the
funds money
generated from standardbred simulcasts for horsemen's purses shall
be divided between all standardbred purse pools. The division shall
be on a pro rata basis between all standardbred race meeting
licensees based upon the percentage of total standardbred handle,
from all sources, for the previous calendar year.
(2) The certified horsemen's organizations and race meeting
licensees shall
have may audit rights of the funds set forth in
the payment and division of money under this section.