Maine Revised Statutes Title 8 Sec. 1072 – Distribution of advance deposit wagering revenue
Current as of: 2023 | Check for updates
|
Other versions
The revenue from wagers placed by means of advance deposit wagering must be distributed according to this section. [PL 2023, c. 440, §10 (AMD).]
1. Distribution of revenue from wagers placed on races conducted in State. An advance deposit wagering licensee shall collect 5% of gross advance deposit wagers from wagers placed with the licensee on races conducted at tracks in the State and distribute it to the board for distribution as follows.
A. Ten percent of the amount collected under this subsection must be deposited directly to the General Fund. [PL 2023, c. 440, §10 (AMD).]
B. Twenty percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
C. One percent of the amount collected under this subsection must be distributed to the Sire Stakes Fund established under section 281. [PL 2023, c. 440, §10 (AMD).]
D. Ten percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
E. Twenty-four percent of the amount collected under this subsection must be distributed to the fund established under section 298 to supplement harness racing purses. [PL 2023, c. 440, §10 (AMD).]
F. Twenty percent of the amount collected under this subsection must be distributed to the track where the race upon which the wager was placed was conducted. [PL 2023, c. 440, §10 (AMD).]
G. Fifteen percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
[PL 2023, c. 440, §10 (AMD).]
Terms Used In Maine Revised Statutes Title 8 Sec. 1072
- Advance deposit wagering: means a form of pari-mutuel wagering on horse races in which a person places a wager in person or by telephone, Internet, mobile device or other electronic communication. See Maine Revised Statutes Title 8 Sec. 1001
- Advance deposit wagering licensee: means a person that is licensed by the board pursuant to subchapter 7 to conduct advance deposit wagering. See Maine Revised Statutes Title 8 Sec. 1001
- Board: means the Gambling Control Board established under section 1002. See Maine Revised Statutes Title 8 Sec. 1001
- Distribute: means to sell, lease, license, place or otherwise make available for use in the State or to transport into the State for the purpose of selling, leasing, licensing, placing or otherwise making available for use in the State. See Maine Revised Statutes Title 8 Sec. 1001
- Gross advance deposit wagers: means the total amount of wagers placed by residents of this State by means of advance deposit wagering before payment of money to winning residents of this State. See Maine Revised Statutes Title 8 Sec. 1001
- License: means a license issued by the board under this chapter. See Maine Revised Statutes Title 8 Sec. 1001
- Licensee: means a person granted a license under this chapter. See Maine Revised Statutes Title 8 Sec. 1001
2. Distribution of revenue from wagers placed on races conducted outside State. An advance deposit wagering licensee shall collect 5% of gross advance deposit wagers from wagers placed with the licensee on races conducted at tracks outside the State and distribute it to the board for distribution as follows.
A. Ten percent of the amount collected under this subsection must be deposited directly to the General Fund. [PL 2023, c. 440, §10 (AMD).]
B. Thirty-six percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
C. One percent of the amount collected under this subsection must be distributed to the Sire Stakes Fund established under section 281. [PL 2023, c. 440, §10 (AMD).]
D. Ten percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
E. Seven percent of the amount collected under this subsection must be distributed to the fund established under section 298 to supplement harness racing purses. [PL 2023, c. 440, §10 (AMD).]
F. Thirty-six percent of the amount collected under this subsection 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 2023, c. 440, §10 (AMD).]
[PL 2023, c. 440, §10 (AMD).]
SECTION HISTORY
PL 2015, c. 499, §8 (NEW). PL 2023, c. 440, §10 (AMD).