Sec. 12. Funding
588 words·~3 min read·
/bill/116/s/1820/is/section-12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Nothing in this Act shall be construed to require— the appropriation of any amount to the Authority; or the Federal Government to guarantee the debts of the Authority. Initial funding to establish the Authority and underwrite its operations prior to the effective date shall be provided by loans obtained by and donations made to the Authority. The Authority may borrow money and accept private donations and contributions toward the funding of its operations. Not later than the date that is 90 days before the date set forth in section 11(a) and not later than November 1 of each year thereafter, the Authority shall determine and provide to each State racing commission the estimated amount required per racing starter to fund the horseracing anti-doping and medication control program for the coming year and to liquidate any loans or funding shortfall in the current year and any prior years.
The amount calculated under subparagraph
(A)shall be based upon the annual budget of the Authority for the succeeding year, as approved by the board of the Authority. The Authority’s initial budget shall require the approval of 2/3 of its board and any subsequent budget that exceeds the preceding year’s budget by more than 5 percent shall also require the approval of 2/3 of the board of the Authority. Any State racing commission that elects to remit fees pursuant to this subsection shall notify the Authority of such election at least 60 days prior to the adoption of the horseracing anti-doping and medication control program. Once a State racing commission makes such notification, the election shall remain in effect and the State racing commission shall be required to remit fees pursuant to this subsection. A State racing commission may withdraw its election after providing notice to the Authority of its intent to cease remitting fees pursuant to this subsection not later than 1 year before ceasing such remitting. Each State racing commission that elects to remit fees shall remit to the Authority on or before the 20th day of each calendar month an amount equal to the applicable fee per racing start multiplied by the number of racing starts in the State in the previous month. Each State racing commission shall determine, subject to the applicable laws and regulations of the State, the method by which the requisite amount shall be allocated, assessed, and collected. It is the sense of Congress that funding mechanisms imposed by State racing commissions should apportion the funding burden fairly among all impacted segments of the horseracing industry and may include check-off programs. In the event a State racing commission does not elect to remit fees pursuant to subsection
(c)or withdraws its election under such subsection, the Authority shall calculate each month the applicable fee per racing start multiplied by the number of racing starts in the State in the previous month. The Authority shall equitably allocate that amount calculated under paragraph (1), among those involved in covered horseraces pursuant to such rules as the Authority may promulgate, subject to review by the Commission under section 4. The Authority shall assess a fee equal to the allocation made under paragraph
(2)and shall collect such fee according to such rules as the Authority may promulgate, subject to such Commission review. A State racing commission that does not elect to remit fees pursuant to subsection
(c)or that withdraws its election under such subsection shall not impose or collect from any person a fee or tax relating to anti-doping and medication control matters for covered horseraces.