(a) In this section, “Park and Planning Commission” means the Maryland-National Capital Park and Planning Commission.

(b) The State Racing Commission shall issue a special thoroughbred racing license to the Park and Planning Commission to hold racing in 4 one-day race meetings at the Prince George’s Equestrian Center.

(c) The racing days shall be held:

(1) on dates that the Park and Planning Commission chooses and the State Racing Commission approves;

(2) on dates when a mile thoroughbred racing licensee does not hold a race; and

(3) in connection with or for the benefit of a county fair or equestrian exhibition or activity.

(d) (1) The Park and Planning Commission shall deduct from the handle:

(i) 17% of all money bet in each regular mutuel pool;

(ii) 19% of all money bet in each multiple mutuel pool on 2 horses; and

(iii) 25% of all money bet in each multiple mutuel pool on 3 or more horses.

(2) The Park and Planning Commission shall pay to the Maryland Equestrian Foundation, Inc., a nonprofit organization:

(i) from the amount deducted under paragraph (1) of this subsection, 8% of the total amount bet in all of the mutuel pools; and

(ii) any profit from admission fees or other receipts, less expenses from the operation of racing days.

(3) On races that the Park and Planning Commission holds each year, the Park and Planning Commission shall allocate for purses:

(i) 5% of each regular mutuel pool;

(ii) 7% of each multiple mutuel pool on 2 horses;

(iii) 13% of the money bet in the first race of the day with a multiple mutuel pool on 3 or more horses; and

(iv) 9.25% of the money bet in every other race with a multiple mutuel pool on 3 or more horses.

(e) Repealed.

(f) An officer of the Park and Planning Commission may not receive a salary or dividends from racing authorized under this section.