1862                             Laws of Maryland                       Ch. 664

(4) An amount equal to .40% .50% of the mutuel pool on all races
conducted during the year shall be allocated to the Maryland-Bred
Race Fund as provided by Section 18A of this article.

(5)    An amount equal to 4.94% 5% of the mutuel pool on all races
conducted during the year shall be allocated for purse money. The
formula for distribution of the purse money shall be determined by
an agreement between an organization representing the horsemen
and the tracks, the agreement to be subject to the approval of the
Commission. It is the intention that the allocution shall be made in
the approximate amount of eighty percent (80%) to the current
year's overnight races and twenty percent (20%) to the current
year's stake races.

(6)    An amount equal to one-half of one percent (½%) of the
mutuel pool on all races conducted during the year shall be allocated
for capital improvements as provided by Section 12 of this article.

   (7) An amount equal to 3.16% of the mutuel pool on all races

during the year may be retained by the licensee for its own use.

(7) 4.50% 3.66% OF THE MUTUEL POOL OF ALL RACES
DURING THE YEAR SHALL BE RETAINED BY THE LI-
CENSEE FROM WHICH .25% SHALL BE PAID BY THE LI-
CENSEE TO THE MARYLAND RACE TRACK EMPLOYEES
PENSION FUND TO BE ADMINISTERED BY REPRESENTA-
TIVES OF THE LICENSEE AND THE EMPLOYEES.

If at any time the Racing Commission finds that thoroughbred

racing on mile tracks will be conducted at no more than two locations

in the State during any calendar year, each mile thoroughbred

licensee shall thereafter deduct 15% of the mutuel pool on all races

conducted by it and shall apply the additional one percent as follows:

the amount payable to the Commission for the use of the State

pursuant to subparagraph 3 above shall be increased from 5% of

the mutuel pool to 5½% and the amount to be retained by the licensee
pursuant to subparagraph 7 above shall be increased from 3.16%

to 3.66%.

12.

(c) The amount of the Racing Fund on hand at any time, repre-
senting the deductions made by any particular licensee from the
mutuel pool, previously deducted by such licensee and paid to the
State as a tax, may, with the prior written and express permission
of the Commission, upon such terms and conditions as it may pre-
scribe, be granted by the Commission to that particular licensee as
a contribution to its capital for any substantial alterations, additions,
changes, improvements or major repairs to or upon the property
owned or leased by such licensee and by it used for the conduct of
racing. In determining whether to make such grant or grants as
contributions to capital of any portion of the Racing Fund, the
Commission shall give due consideration to whether its expenditure
in each instance will promote the safety, convenience and comfort
of the racing public and horse owners and generally whether it will
tend toward the improvement of racing in this State. Capital im-
provements and repairs to property owned or leased, by licensees
licensed under the provisions of Section 7 of this Article are not to
be limited by the amounts contributed to the Racing Fund or by the
amounts granted by the Racing Commission and paid out of the