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§ 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
Currentness
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 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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