230.3612 Unredeemed pari-mutuel vouchers deemed property of licensed
271 words·~1 min read·
/ky/230-3612A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
association -- Distribution of funds -- Annual report to corporation. Notwithstanding any law to the contrary:
(1)All funds from unredeemed pari-mutuel vouchers presumed abandoned under KRS
230.361 shall be deemed property of the licensed association. All licensed
associations shall report to the corporation by December 31 of each year their use of
funds from unredeemed pari-mutuel vouchers. The funds from unredeemed pari-
mutuel vouchers shall be used in the following manner:
(a)For Thoroughbreds, standardbreds, quarter horses, paint horses, Appaloosas,
or Arabian horses, by using:
1. Twenty-five percent (25%) for the administration and regulation of live
horse racing; and
2. Sixty-five percent (65%) for health, safety, or track and facility
improvements, at a licensed track in Kentucky, and:
a. As a condition for using moneys under this subparagraph, a
licensed association shall agree to comply with any requirements
that the corporation determines;
b. The moneys used under this subparagraph shall be used for health
and safety improvements, as well as construction projects,
including without limitation, barns, living quarters, kitchens,
dormitories, and recreational areas; and
c. A licensed association may agree to a transfer of these moneys to
another licensed association or track with the approval of the
corporation; and
(b)By transferring ten percent (10%) to the corporation to be deposited in the
Kentucky problem gambling assistance account established by KRS 230.826;
and
(2)All funds held by a licensed track from unredeemed pari-mutuel vouchers:
(a)Issued at least one
(1)year prior to March 27, 2025, shall be deemed property
of the licensed track; and
(b)Shall be separated, maintained, and used in the manner provided in this
section.