230.225 Kentucky Horse Racing and Gaming Corporation -- Board of directors --
294 words·~1 min read·
/ky/230-225A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Annual audit -- Annual report -- Office -- Meetings -- Responsibilities --
Operations -- Limitations -- Administrative regulations.
(1)There is hereby created and established the Kentucky Horse Racing and Gaming
Corporation to regulate all forms of live horse racing, pari-mutuel wagering, sports
wagering, breed integrity and development, and on and after July 1, 2025,
charitable gaming, in the Commonwealth, exclusive of the state lottery established
under KRS Chapter 154A. It shall be an independent, de jure municipal corporation
and political subdivision of the Commonwealth of Kentucky which shall be a public
body corporate and politic. The corporation shall be deemed a public agency within
the meaning of KRS 61.805 and 61.870. The corporation shall be managed in such
a manner that enables the people of the Commonwealth to benefit from its actions
and to enjoy the best possible racing and gaming experiences. The General
Assembly hereby recognizes that the operations of racing and gaming are unique
activities for state government and that a corporate structure will best enable racing
and gaming to be managed in a businesslike manner. It is the intent of the General
Assembly that the Kentucky Horse Racing and Gaming Corporation shall be
accountable to the Governor, the General Assembly, and the people of the
Commonwealth.
(a)1. The Auditor of Public Accounts shall perform an audit of the
corporation once every four
(4)years, a copy of which shall be sent to
the Governor and the Legislative Research Commission.
2. A different auditing entity that is qualified to evaluate municipal
corporations shall conduct an annual audit of the corporation once each
year in every year when the Auditor of Public Accounts does not
perform an audit. A copy of this audit shall be sent to the Governor and