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759
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HARRY HUGHES, Governor
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licensee shall pay an annual tax for the use of the State at the
rate of [3] 0.75 percent of all money wagered not in excess of
$125,000 daily average [during the calendar years 1981 and 1982,
and at the rate of 1.25 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 and 1982,] and shall
retain for its own use [15.75] 16.25 percent of the regular
mutuel pool, [17.75] 18.25 percent of the two horse multiple
mutuel pool, if any, and [23.75] 24.25 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] 1983 AND 1984 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.
(d) (1) An amount equal to at least 1 percent of the two
horse multiple mutuel pool on all races conducted during the year
shall be allocated as follows:
(i) 50 percent to purse money; and
(ii) 50 percent to PAY THE COST OF TRACT TRACK
MAINTENANCE, PHYSICAL IMPROVEMENTS, PAYMENTS ON ANY INDEBTEDNESS
RELATED TO THE FACILITY (INCLUDING, WITHOUT LIMITATION, CLUBHOUSE
AND GRANDSTAND CONSTRUCTION) PREVIOUSLY OR HEREAFTER INCURRED,
AND PERSONNEL-RELATED EXPENSES [track improvements of which:
(A) One half shall be allocated to
"grandstand" improvements; and
(B) One half shall be allocated to
"backstretch" improvements described in subsection (b)(4)].
(2) An amount equal to at least 6.5 percent of the
three or more horse multiple mutuel pool on all races conducted
during the year shall be allocated as follows:
(i) 50 percent to purse money; and
(ii) 50 percent to PAY THE COST OF TRACK
MAINTENANCE, PHYSICAL IMPROVEMENTS, PAYMENTS ON ANY INDEBTEDNESS
RELATED TO THE FACILITY (INCLUDING, WITHOUT LIMITATION, CLUBHOUSE
AND GRANDSTAND CONSTRUCTION) PREVIOUSLY OR HEREAFTER INCURRED,
AND PERSONNEL-RELATED EXPENSES [track improvements of which:
(A) One half shall be allocated to
"grandstand" improvements; and
(B) One half shall be allocated to
"backstretch" improvements described in subsection (b)(4).
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