2658

LAWS OF MARYLAND

Ch. 309

Racing - State Tax at Ocean Downs Track

FOR the purpose of changing the rate of State taxation on
the money bet at the Ocean Downs Race Track; and
changing the allocation of the take-out from betting
between the State and the track.

BY repealing and reenacting, with amendments,

Article 78B - Racing Commission

Section 17(b-2)

Annotated Code of Maryland

(1980. Replacement Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article 78B - Racing Commission

17.

(b-2) Notwithstanding the provisions of subsection (b)
of this section, for any licensee having a total wager not
in excess of $125,000 daily average on all races conducted
by it, the licensee shall pay an annual tax for the use of
the State at the rate of 3 percent of all money wagered not
in excess of $125,000 daily average during the calendar
years 1981[, 1982, 1983, and 1984] AND 1982, AND AT THE RATE
OF 1.2.5 PERCENT DURING THE CALENDAR YEARS 1983 AND 1984
only; and shall retain for its own use 14 percent of the
regular mutuel pool, 16 percent of the two horse multiple
mutuel pool, if any, and 22 percent of the three horse
multiple mutuel pool, if any, of all money wagered not in
excess of $125,000 daily average during the calendar years
1981[, 1982, 1983, and 1984] AND 1982, AND SHALL RETAIN FOR
ITS OWN USE 15.75 PERCENT OF THE REGULAR MUTUEL POOL, 17.75
PERCENT OF THE TWO HORSE MULTIPLE MUTUEL POOL, IF ANY, AND
23.75 PERCENT OF THE THREE HORSE MULTIPLE MUTUEL POOL, IF
ANY, OF ALL MONEY WAGERED DURING THE CALENDAR YEARS 1983 AND
1984 only. In addition to any allocations otherwise
provided in this section or Section 17A of this article,
each licensee shall allocate during these years only an
amount equal to .50 percent of all money wagered to
repayment of debt incurred for construction of new
grandstand facilities at the track.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved May 20, 1982.