§1072. Distribution of net commission

The net commission established in the contract executed pursuant to section 1071, subsection 3 must be distributed according to this section.   [PL 2015, c. 499, §8 (NEW).]

1.  Distribution of net commission from wagers placed on races conducted in State.  An advance deposit wagering licensee shall collect the net commission from wagers placed on races conducted at tracks in the State and distribute it to the board for distribution as follows.

A. Ten percent of the net commission must be deposited directly to the General Fund.   [PL 2015, c. 499, §8 (NEW).]

B. Twenty percent of the net commission must be distributed to all off-track betting facilities licensed under section 275-D so that each off-track betting facility receives the same amount.   [PL 2015, c. 499, §8 (NEW).]

C. One percent of the net commission must be distributed to the Sire Stakes Fund established under section 281.   [PL 2015, c. 499, §8 (NEW).]

D. Ten percent of the net commission must be distributed to the Agricultural Fair Support Fund established under Title 7, section 91 except that, notwithstanding Title 7, section 91, subsection 2, paragraph A, no portion of the distribution required by this paragraph may be distributed to a commercial track.   [PL 2015, c. 499, §8 (NEW).]

E. Twenty-four percent of the net commission must be distributed to the fund established under section 298 to supplement harness racing purses.   [PL 2015, c. 499, §8 (NEW).]

F. Twenty percent of the net commission must be distributed to the track where the race upon which the wager was placed was conducted.   [PL 2015, c. 499, §8 (NEW).]

G. Fifteen percent of the net commission must be distributed to all commercial tracks, with each commercial track receiving a portion determined by multiplying that 15% times a fraction, the numerator of which is the minimum number of days of racing the commercial track is required by law to conduct annually in order to retain its commercial track license and the denominator of which is the sum of the number of days of racing all the commercial tracks are required to conduct in order to retain their commercial track licenses.   [PL 2015, c. 499, §8 (NEW).]

[PL 2015, c. 499, §8 (NEW).]

2.  Distribution of net commission from wagers placed on races conducted outside State.  An advance deposit wagering licensee shall collect the net commission from wagers placed on races conducted at tracks outside the State and distribute it to the board for distribution as follows.

A. Ten percent of the net commission must be deposited directly to the General Fund.   [PL 2015, c. 499, §8 (NEW).]

B. Thirty-six percent of the net commission must be distributed to all off-track betting facilities licensed under section 275-D so that each off-track betting facility receives the same amount.   [PL 2015, c. 499, §8 (NEW).]

C. One percent of the net commission must be distributed to the Sire Stakes Fund established under section 281.   [PL 2015, c. 499, §8 (NEW).]

D. Ten percent of the net commission must be distributed to the Agricultural Fair Support Fund established under Title 7, section 91 except that, notwithstanding Title 7, section 91, subsection 2, paragraph A, no portion of the distribution required by this paragraph may be distributed to a commercial track.   [PL 2015, c. 499, §8 (NEW).]

E. Seven percent of the net commission must be distributed to the fund established under section 298 to supplement harness racing purses.   [PL 2015, c. 499, §8 (NEW).]

F. Thirty-six percent of the net commission must be distributed to all commercial tracks, with each commercial track receiving a portion determined by multiplying that 36% times a fraction, the numerator of which is the minimum number of days of racing the commercial track is required by law to conduct annually in order to retain its commercial track license and the denominator of which is the sum of the number of days of racing all the commercial tracks are required to conduct in order to retain their commercial track licenses.   [PL 2015, c. 499, §8 (NEW).]

[PL 2015, c. 499, §8 (NEW).]

SECTION HISTORY

PL 2015, c. 499, §8 (NEW).