42-7-98.1. Transfer of revenue in special racing fund--Procedure.
118 words·~1 min read·
/sd/title-42/chapter-42-7/42-7-98-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The state treasurer shall transfer the first seventy - five thousand dollars received in a special racing fund to the special racing revolving fund and any amounts received during any year in excess of seventy - five thousand dollars shall be transferred as follows:
(1)One - half of the remaining revenue shall be transferred to the South Dakota - bred racing fund;
(2)The other one - half of the remaining revenue shall be transferred to the special racing revolving fund.
All transfers by the state treasurer except for the transfer on April 1, 1991, shall be made on a monthly basis on the first day of the month or as soon thereafter as is reasonably possible.