West Virginia Code 19-23-11 – Revenues from horse racing and dog racing to be paid into a special account to fund commission expenses
All revenues collected pursuant to the provisions of this article as license taxes or pari-mutuel pools taxes on horse racing and dog racing shall be paid by the Racing Commission to the State Treasurer who shall deposit the revenues in a special account to be denominated by him or her. The revenues in the special account shall first be available to the commission to pay salaries and other budgeted expenses for the commission, not to exceed the amounts appropriated for such purposes in the budget bill for each fiscal year. Revenues in excess of the budgeted expenses of the commission shall be accumulated and transferred to the General Revenue Fund. The Racing Commission shall remit all collected revenues to the State Treasurer at least one time during each thirty-day period of each racing season, and a final remittance as to any particular horse race or dog race meeting shall be made within thirty days from and after the close of each horse race or dog race meeting.
Terms Used In West Virginia Code 19-23-11
- Dog racing: means any type of dog racing, including, but not limited to, greyhound racing. See West Virginia Code 19-23-3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fund: means the West Virginia Thoroughbred Development Fund established in section thirteen-b of this article. See West Virginia Code 19-23-3
- License: means the license required by the provisions of section one of this article. See West Virginia Code 19-23-3
- Pari-mutuel: means a mutuel or collective pool that can be divided among those who have contributed their wagers to one central agency, the odds to be reckoned in accordance to the collective amounts wagered upon each contestant running in a horse or dog race upon which the pool is made, but the total to be divided among the first three contestants on the basis of the number of wagers on these. See West Virginia Code 19-23-3
- Racing commission: means the West Virginia Racing Commission. See West Virginia Code 19-23-3
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10