(a) Except as provided in § 11-516 of this subtitle, the takeout that a licensee deducts from the handle of a race shall be allocated in accordance with this section.
(b) A licensee shall:
(1) keep 50% of the breakage;
(2) allocate 45% of the breakage for purses; and
(3) allocate 5% of the breakage to the Maryland-Bred Race Fund.
(c) From the amount that a licensee deducts from each regular mutuel pool, the licensee shall:
(1) keep 7.70% of each regular mutuel pool, from which the licensee shall pay 0.25% of each regular mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each regular mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each regular mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 7.70% of each regular mutuel pool for purses;
(5) allocate 0.18% of each regular mutuel pool as an additional amount for purses; and
(6) allocate 1% of each regular mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
(d) From the amount that a licensee deducts from each multiple mutuel pool on 2 horses, the licensee shall:
(1) keep 8.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 8.70% of each multiple mutuel pool for purses;
(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and
(6) allocate 2% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
(e) From the amount that a licensee deducts from each multiple mutuel pool on 3 or more horses, the licensee shall:
(1) keep 11.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 11.70% of each multiple mutuel pool for purses;
(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and
(6) allocate 0.75% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
Credits
Added by Acts 1992, c. 4, § 2. Amended by Acts 1992, c. 473, § 2; Acts 1997, c. 750, § 1, eff. June 1, 1997; Acts 1998, c. 21, § 1, eff. April 14, 1998; Acts 1998, c. 477, § 1, eff. June 1, 1998; Acts 1999, c. 291, § 1, eff. June 1, 1999; Acts 2000, c. 309, § 2, eff. July 1, 2000; Acts 2001, c. 29, § 1, eff. April 10, 2001; Acts 2004, c. 97, § 3, eff. July 1, 2004; Acts 2005, c. 25, § 1, eff. April 12, 2005.
Formerly Art. 78B, § 11.
MD Code, Business Regulation, § 11-515, MD BUS REG § 11-515
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
