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186
STATEMENT B—14—Continued
Horse Racing Revenue Distribution Formulae
For the Fiscal Year Ended June 30, 1968
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DISTRIBUTION OF
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STATE TAXES (1)
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LICENSEE
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STATE
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SHARE
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TAX RATE
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General Fund
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Baltimore City
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and Counties
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DAILY LICENSE FEE:
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One Mile Tracks
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$1,000
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50%
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50%
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Half Mile Tracks
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50
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(A)
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All (A)
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Trotting and Pacing Meets
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25
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50%
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50%
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WAGERING:
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One Mile Tracks
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8% (B)
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5%
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60%
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40%
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Half Mile Tracks (First $1,500,000)
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12%
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1%
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(Over $1,500,000)
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7%
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6%
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75%
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25%
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Trotting and Pacing Meets (Not exceeding
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$125,000 daily average)
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12 1/2%
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3 1/2%
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75% of the first
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25% of the first
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$2,000,000
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$2,000,000
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Trotting and Pacing Meets (All over
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$125,000 daily average)
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9%
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7%
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55% of all over
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45% of all over
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$2,000,000
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$2,000,000
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Steeplechase
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7%
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5%
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100%
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BREAKAGE:
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One Mile Tracks
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50%
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50%
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50%
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50%
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Half Mile Tracks
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50%
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50%
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75%
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25%
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Trotting and Pacing Meets
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100% (C)
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50%
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50%
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(1) Revenues from racing in excess of the following calendar year number of days at each track are to be allocated entirely
to the General Fund.
One Mile Tracks 83 Days
Half Mile Tracks 10 Days
Trotting and Pacing Tracks 20 Days
Distribution to Baltimore City and Counties is in addition to an initial allocation of $24,000 annually from the One
Mile Track Revenues. From the total for distribution, allocation is first made for the budget of the Department of
Post Mortem Examiners and the remainder is than apportioned to Baltimore City and the Counties.
An allocation of $314,000 annually is made to the Maryland State Fair Board from the General Fund portion of revenues
received from the Half Mile and Trotting and Pacing Meets. The allocation is reduced by payments from each
Trotting or Pacing Track representing 1 /10% of all money wagered in excess of $2,000,000 with a maximum of $3,500
from each licensee.
Each of the One Mile Tracks is required to pay the sum of $12,000 annually to the State Fair Board.
(A) $50.00 daily license fee paid direct to County Treasurer. Half Mile Track days transferred to Mile Tracks require a
$1,000 daily license fee which is divided according to the 75%—25% Half Mile Track distribution formula.
(B) Includes 1/2% Race Track Improvement Levy.
(C) Applicable to tracks having total wagers in excess of $166,666.67 daily average.
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