Sec. 19.
A race meeting licensee shall pay an amount equal to not less than 25% and not more than 40% of the net commission generated at the licensee's race meeting to a site-specific horsemen's simulcast purse account. Money paid into a horsemen's simulcast purse account under this act must be deposited in a depository designated by the participating certified horsemen's organizations and distributed by their designated agent as follows:
(a) For purses for live horse races at a licensed race meeting in this state.
(b) Each year, all certified horsemen's organizations that participate in a live race meeting may receive an amount approved by order of the racing commissioner to use for general expenses. Beginning on January 1 and ending on December 31 of each year, the certified horsemen's organization is entitled to not less than 5% of the site-specific horsemen's simulcast purse account as ordered by the racing commissioner.
History: 1995, Act 279, Imd. Eff. Jan. 9, 1996 ;-- Am. 2016, Act 271, Imd. Eff. July 1, 2016 Admin Rule: R 285.812.1 et seq. of the Michigan Administrative Code.
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