Home Table of Contents

§ 11-406. Disbursement of remaining money

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 11. Horse Racing (Refs & Annos)
Subtitle 4. Special Fund (Refs & Annos)
MD Code, Business Regulation, § 11-406
§ 11-406. Disbursement of remaining money
After all deductions from the Special Fund as required by §§ 11-403, 11-404, and 11-404.1 of this subtitle are made, money that remains in the Special Fund shall be allocated in the following way:
(1) 50% to the Maryland Agricultural Education and Rural Development Assistance Fund established under § 2-206 of the State Finance and Procurement Article, with one-third of these funds to be allocated to support the operations of the Rural Maryland Council; and
(2) 50% to be allocated in the following way:
(i) 70% to the Maryland-Bred Race Fund; and
(ii) 30% to the Maryland Standardbred Race Fund, to be divided equally between the Sire Stakes Program and the Foaled Stakes Program.

Credits

Added by Acts 1992, c. 4, § 2. Amended by Acts 1998, c. 477, § 1, eff. June 1, 1998; Acts 1999, c. 291, § 1, eff. June 1, 1999; Acts 2000, c. 309, § 1, eff. July 1, 2000; Acts 2005, c. 410, § 1, eff. May 10, 2005.
Formerly Art. 78B, § 19.
MD Code, Business Regulation, § 11-406, MD BUS REG § 11-406
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document