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PARRIS N. GLENDENING, Governor Ch. 309
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EXPENDITURES MADE PURSUANT TO THE MASTER PLAN AND § 11-1204(C)(2),
INCLUDING EXPENDITURES MADE BY THE LICENSEE AS DESCRIBED UNDER §
11-1203(B)(9).
(C) (D) IF THE COMMISSION DISAPPROVES A MASTER PLAN, THE
COMMISSION SHALL STATE FINDINGS OF FACT FOR THE DISAPPROVAL.
(D) (E) IF A MASTER PLAN IS DISAPPROVED, THE LICENSEE MAY ADDRESS
THE COMMISSION'S STATED REASONS FOR DISAPPROVAL AND RE-SUBMIT THE PLAN.
(E) (F) UPON APPLICATION BY THE LICENSEE, THE COMMISSION MAY
APPROVE AMENDMENTS TO THE PLAN SUBJECT TO THE PROVISIONS OF THIS
SECTION.
(F) (G) THE CORPORATION MAY RELEASE FUNDS TO AN ELIGIBLE LICENSEE
ONLY AFTER THE LICENSEE COMPLIES WITH THE PROVISIONS OF §§ 11-1204 AND
11-1207 OF THIS SUBTITLE.
(C) (G) (H) THE CORPORATION MAY ISSUE A BOND AFTER THE
COMMISSION NOTIFIES THE CORPORATION THAT A RACING FACILITY MASTER PLAN
HAS BEEN APPROVED.
(I) (1) IF THE CORPORATION AND THE COMMISSION FIND, AT ANY TIME,
THAT THE LICENSEE IS NOT IN COMPLIANCE WITH THE MASTER PLAN APPROVED BY
THE COMMISSION UNDER THIS SECTION OR THE EXPENDITURES REQUIRED UNDER
§ 11-1204 OF THIS SUBTITLE, THE COMMISSION MAY DIRECT THE CORPORATION:
(I) NOT TO ISSUE ADDITIONAL BONDS FOR THAT LICENSEE UNTIL
THE LICENSEE IS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS; AND
(II) TO REDUCE, IN AN AMOUNT PROPORTIONATE TO THE
LICENSEE'S DEGREE OF NONCOMPLIANCE WITH THE LICENSEE'S FINANCIAL
OBLIGATIONS, THE AMOUNT OF ASSISTANCE AVAILABLE TO THE LICENSEE THAT IS
ATTRIBUTABLE TO THE LICENSEE'S TAKEOUT ALLOCATION UNDER § 11-515 OF THIS
TITLE AND THE LICENSEE'S SHARE OF UNCASHED PARIMUTUEL TICKETS CREDITED
TO THE FUND UNDER § 11-803 OF THIS TITLE.
(2) IF THE CORPORATION AND THE COMMISSION FIND THE LICENSEE
HAS FAILED TO COMPLY UNDER PARAGRAPH (1) OF THIS SUBSECTION, THE
COMMISSION SHALL NOTIFY THE LICENSEE, STATE FINDINGS OF FACT, AND
PROVIDE THE LICENSEE AN OPPORTUNITY TO CURE THE DEFICIENCY WITHIN A
REASONABLE TIME.
11-1204.
(A) SUBJECT TO THE AVAILABILITY OF FUNDS, AN ELIGIBLE RACING
LICENSEE QUALIFIES FOR ASSISTANCE FROM THE MARYLAND RACE TRACK
IMPROVEMENT PROGRAM IF THE COMMISSION APPROVES AN APPLICATION RACING
FACILITY REDEVELOPMENT PROGRAM IF THE ELIGIBLE LICENSEE COMPLIES WITH
THE PROVISIONS OF THIS SECTION AND § 11-1207 OF THIS SUBTITLE.
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- 1865 -
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