24

LAWS OF MARYLAND

Ch. 7

January 1, 1986, the percent of the mutuel pools paid to the
Maryland Racing Commission for use of the State as provided by §
14 of this article shall be 4.84 percent].

[(4)] (3) [An amount equal to 1] 1.10 percent of the
mutuel pools on all races conducted during the year shall be
allocated to the Maryland-Bred Race Fund [as provided by § 18A of
this article].

[(5)] (4) (i) [For the calendar year 1978 and all
subsequent calendar years, an amount equal to 5] 7.70 percent of
the regular mutuel pools, [8] 8.70 percent of the multiple mutuel
pools involving two horses, and [14] 11.70 percent of the
multiple mutuel pools involving three or more horses shall be
allocated for purse money. THE COMMISSION MAY AUTHORIZE A
DEDUCTION FROM PURSE MONEY OF 0.25 PERCENT OF ALL MUTUEL POOLS TO
A MARYLAND BACKSTRETCH EMPLOYEES' PENSION FUND, IF THIS FUND IS
ESTABLISHED AND ADMINISTERED BY THE ORGANIZATION REPRESENTING A
MAJORITY OF THE HORSEMEN RACING IN THE STATE.

(ii) 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 allocation shall be made in the approximate amount of 85
percent to the current year's overnight races and 15 percent not
to exceed 17 percent to the current year's stake races.

(III) AN AMOUNT TO BE DETERMINED BY THE
ORGANIZATION, EQUAL TO NOT LESS THAN 1 PERCENT BUT NOT MORE THAN
2 PERCENT, SHALL BE DEDUCTED FROM ALL OPEN PURSES AND PAID TO THE
ORGANIZATION REPRESENTING A MAJORITY OF THE HORSEMEN IN THE
STATE.

[(6) 6.91 percent of the regular mutuel pool and 5.91
percent of the multiple mutuel pool of all races during the year
shall be retained by the licensee from which 0.25 percent of both
pools shall be paid by the licensee to the Maryland Race Track
Employees Pension Fund to be administered by representatives of
the licensee and the employees. Effective January 1, 1986, the
percent of the mutuel pools retained by the licensee shall be
6.16 percent of the regular mutuel pool and 5.16 percent of the
multiple mutuel pool from which 0.25 percent of both pools shall
be paid by the licensee to the Maryland Race Track Employees
Pension Fund to be administered by representatives of the
licensee and the employees.]

(5) (I) 7.70 PERCENT OF THE REGULAR MUTUEL POOLS,
8.70 PERCENT OF THE MULTIPLE MUTUEL POOLS INVOLVING 2 HORSES, AND
11.70 PERCENT OF THE MULTIPLE MUTUEL POOLS INVOLVING 3 OR MORE
HORSES SHALL BE RETAINED BY THE LICENSEE. THE LICENSEE SHALL PAY
FROM ITS SHARE 0.25 PERCENT OF ALL MUTUEL POOLS TO THE MARYLAND
RACE TRACK EMPLOYEES PENSION FUND, TO BE ADMINISTERED BY
REPRESENTATIVES OF THE LICENSEE AND THE EMPLOYEES.