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§ 11-704. Winnings and take out

West's Annotated Code of MarylandBusiness RegulationEffective: June 1, 2022

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 11. Horse Racing (Refs & Annos)
Subtitle 7. Racing at Fair Hill (Refs & Annos)
Effective: June 1, 2022
MD Code, Business Regulation, § 11-704
§ 11-704. Winnings and take out
Currentness
(a)(1) The licensee shall deduct from the handle:
(i) all the breakage; and
(ii) an amount not to exceed 25%.
(2) Excluding the breakage, of the amount the licensee deducts from the handle, 36% of that amount shall be paid to the Commission, which shall send it to the Comptroller to be credited to the Fair Hill Improvement Fund established in § 5-908 of the Natural Resources Article.
(b) Money that remains after deductions are made under subsection (a) of this section shall be returned as winnings to successful bettors.

Credits

Added by Acts 1992, c. 4, § 2. Amended by Acts 2005, c. 153, § 1, eff. July 1, 2005; Acts 2016, c. 497, § 1, eff. Oct. 1, 2016; Acts 2021, c. 167, § 1, eff. July 1, 2021; Acts 2021, c. 168, § 1, eff. July 1, 2021; Acts 2022, c. 269, § 1, eff. June 1, 2022.
Formerly Art. 78B, §§ 27, 27B.
MD Code, Business Regulation, § 11-704, MD BUS REG § 11-704
Current with legislation effective through July 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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