Kentucky Statutes 230.446 – Kentucky quarter horse, paint horse, Appaloosa, and Arabian purse fund — Purposes — Distribution and allocation of funds — Administration of fund by Kentucky Horse Racing Commission
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(1) The Kentucky quarter horse, paint horse, Appaloosa, and Arabian purse fund is created as a trust and agency fund to be administered by the Kentucky Horse Racing Commission and shall consist of moneys allocated to the fund under KRS § 230.3771 together with any other moneys contributed to or allocated to the fund from all other sources. For the purposes of this section, “purse fund” or” fund” means the Kentucky quarter horse, paint horse, Appaloosa, and Arabian purse fund.
(2) Notwithstanding KRS § 45.229, money to the credit of the fund at the end of the fiscal year shall not lapse but shall be carried forward in the fund to the succeeding fiscal year. Interest earnings of the fund shall become a part of the fund and shall not lapse.
(3) Moneys in the fund shall be used and are hereby appropriated for purposes specified in this section.
(4) The Kentucky Horse Racing Commission shall use the purse fund to promote racing and to provide purses for races conducted in the Commonwealth as follows:
(a) The Kentucky Horse Racing Commission shall provide for distribution of money from the fund to persons, corporations, or associations operating licensed tracks within the Commonwealth conducting quarter horse, paint horse, Appaloosa, or Arabian horse racing;
(b) Moneys from the purse fund shall be allocated to each breed of horse represented in the fund in proportion to the amount each breed has contributed to the fund; and
(c) The Kentucky Horse Racing Commission shall consult with the Kentucky Quarter Horse Racing Association or its successor, the Kentucky Appaloosa Owners Association or its successor, the Kentucky Paint Horse Club or its successor, and the Kentucky Arabian Horse Association or its successor, to designate the races and the amount of purse money to be provided for designated races for each breed respectively.
(5) The Kentucky Horse Racing Commission shall:
(a) Fix the dates and conditions of races to be held by licensed tracks;
(b) Fix the amount of money to be paid from the fund to be added to the purse provided for each race by the licensed operator of the track; and
(c) Promulgate administrative regulations necessary to carry out the provisions of this section.
(6) The Kentucky Horse Racing Commission shall carry out the provisions of this section and administer the purse fund in a manner designed to promote and aid in the development of the horse industry in Kentucky and upgrade the quality of horse racing in Kentucky.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 47, sec. 3, effective June 24, 2015. — Created
2012 Ky. Acts ch. 21, sec. 3, effective July 12, 2012.
(2) Notwithstanding KRS § 45.229, money to the credit of the fund at the end of the fiscal year shall not lapse but shall be carried forward in the fund to the succeeding fiscal year. Interest earnings of the fund shall become a part of the fund and shall not lapse.
Terms Used In Kentucky Statutes 230.446
- Arabian: means a horse that is registered with the Arabian Horse Registry of
Denver, Colorado. See Kentucky Statutes 230.210 - 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.
- Paint horse: means a horse registered with the American Paint Horse Association of Fort Worth, Texas. See Kentucky Statutes 230.210
- Quarter horse: means a horse that is registered with the American Quarter Horse
Association of Amarillo, Texas. See Kentucky Statutes 230.210 - Racing commission: means the Kentucky Horse Racing Commission. See Kentucky Statutes 230.210
- Year: means calendar year. See Kentucky Statutes 446.010
(3) Moneys in the fund shall be used and are hereby appropriated for purposes specified in this section.
(4) The Kentucky Horse Racing Commission shall use the purse fund to promote racing and to provide purses for races conducted in the Commonwealth as follows:
(a) The Kentucky Horse Racing Commission shall provide for distribution of money from the fund to persons, corporations, or associations operating licensed tracks within the Commonwealth conducting quarter horse, paint horse, Appaloosa, or Arabian horse racing;
(b) Moneys from the purse fund shall be allocated to each breed of horse represented in the fund in proportion to the amount each breed has contributed to the fund; and
(c) The Kentucky Horse Racing Commission shall consult with the Kentucky Quarter Horse Racing Association or its successor, the Kentucky Appaloosa Owners Association or its successor, the Kentucky Paint Horse Club or its successor, and the Kentucky Arabian Horse Association or its successor, to designate the races and the amount of purse money to be provided for designated races for each breed respectively.
(5) The Kentucky Horse Racing Commission shall:
(a) Fix the dates and conditions of races to be held by licensed tracks;
(b) Fix the amount of money to be paid from the fund to be added to the purse provided for each race by the licensed operator of the track; and
(c) Promulgate administrative regulations necessary to carry out the provisions of this section.
(6) The Kentucky Horse Racing Commission shall carry out the provisions of this section and administer the purse fund in a manner designed to promote and aid in the development of the horse industry in Kentucky and upgrade the quality of horse racing in Kentucky.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 47, sec. 3, effective June 24, 2015. — Created
2012 Ky. Acts ch. 21, sec. 3, effective July 12, 2012.