WILLIAM DONALD SCHAEFER, Governor

Ch. 755

17.

(b-2) (1) Beginning July 1, 1985 through June 30, [1987]
1990 1989 and notwithstanding the provisions of subsection (b) of
this section, for any licensee having a total wager not in excess
of [$150,000] $200,000 daily average on all races conducted by
it, the licensee shall pay no tax to the State for pari-mutuel
betting privileges. The licensee shall retain for its own use
17% of the regular mutuel pool, 19% of the two horse multiple
mutuel pool, if any, and 25% of the three horse multiple mutuel
pool, if any, of all money wagered.

(2)  Beginning July 1, [1987] 1990 1989 and thereafter
for any licensee having a total wager not in excess of [$150,000]
$200,000 daily average on all races conducted by it, the licensee
shall pay an annual tax for the use of the State and shall retain
for its own use the amounts specified in subsection (b)(1) of
this section of all money wagered.

(3)  A licensee shall dedicate .75 percent of the
funds received under paragraph (1) of this subsection to capital
improvements at the track.

(B-4) (1) THE INCREASED FUNDS RETAINED BY A LICENSEE UNDER
SUBSECTION (B-2) OF THIS SECTION ARE PROVIDED SO THAT THE
LICENSEE SHALL IMPROVE THE FACILITIES AND SERVICES OF ITS TRACK
AND INCREASE ITS PROMOTIONAL AND MARKETING ACTIVITIES, IN ORDER
THAT ATTENDANCE AND WAGERING MAY BE INCREASED AND THE WELL-BEING
OF THE STANDARDBRED RACING INDUSTRY ENHANCED.

(2) A LICENSEE WHOSE TOTAL DAILY AVERAGE WAGER IS
GREATER THAN $150,000 AND NOT EXCEEDING $200,000 SHALL SPEND ON
IMPROVEMENTS TO FACILITIES AND SERVICES OF ITS TRACK AND ON
PROMOTIONAL AND MARKETING ACTIVITIES FOR THE TRACK, AN AMOUNT NOT
LESS THAN AN AMOUNT CALCULATED AS FOLLOWS:

(I) THE EXCESS OF THE TOTAL DAILY AVERAGE WAGER
OVER $150,000 MULTIPLIED BY;

(II) THE NUMBER OF RACING DAYS ON WHICH RACING
HAS BEEN CONDUCTED AT THE TRACK, MULTIPLIED BY;

(III) THE TAX RATE THAT WOULD OTHERWISE APPLY.

(2)(3)(2) A LICENSEE WHO RETAINS ADDITIONAL FUNDS
UNDER SUBSECTION (B-2) OF THIS SECTION, BY OCTOBER 1, 1988 AND
OCTOBER 1, 1989, SHALL SUBMIT TO THE COMMISSION AND THE FISCAL
COMMITTEES OF THE GENERAL ASSEMBLY A WRITTEN REPORT , BASSE ON
AUDITED FINANCIAL STATEMENTS, ON THE USE OF THE INCREASED FUNDS
RETAINED BY THE LICENSEE BEGINNING JULY 1, 1985 UNDER SUBSECTION
(B-2) OF THIS SECTION.

3391