Oregon Statutes 462.150 – Regulation of underpayments; effect of tax
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(1) If during any race meet conducted under this chapter, there is an underpayment of the amount actually due to any wagerer, the amount of such underpayment shall revert and belong to the state and be paid to the Oregon Racing Commission and become a part of its fund and shall not be retained by the licensee under whose license such race is held.
Terms Used In Oregon Statutes 462.150
- Breaks: means the odd cents remaining after the payoff prices have been computed in accordance with ORS § 462. See Oregon Statutes 462.010
- Commission: means the Oregon Racing Commission. See Oregon Statutes 462.010
- Licensee: means a person, partnership, corporation, political subdivision, municipal corporation or any other body holding a license under this chapter. See Oregon Statutes 462.010
- Race: includes races conducted without wagering, provided one or more races in the meet are conducted with wagering. See Oregon Statutes 462.010
(2) However, if any government or governmental agency imposes a levy on the licensee, by a tax on the money so wagered and upon or against its receipts, the licensee may collect in addition to the percentage and the breaks allowed under ORS § 462.140, the amount of the tax so levied. [Amended by 1969 c.356 § 20; 2007 c.71 § 145]