Iowa Code 99D.27A – Iowa race horse aftercare organization assistance fund
Current as of: 2023 | Check for updates
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1. An Iowa race horse aftercare organization assistance fund is created in the state treasury under the control of the racing and gaming commission.
Terms Used In Iowa Code 99D.27A
- Commission: means the state racing and gaming commission created under section 99D. See Iowa Code 99D.2
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. The fund shall consist of fines collected by the commission under this chapter and such other moneys deposited in the fund.
3. Moneys in the fund shall be distributed, under the sole control of the commission, to organizations, exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code, that are dedicated to race horse aftercare subject to the requirements of this section.
4. The commission shall determine the method by which moneys in the fund shall be distributed, with priority given to organizations primarily involved in rehabilitation, retraining, and rehoming of former race horses that raced in the state of Iowa that have governing boards comprised of pari-mutuel industry occupational license holders. Moneys shall only be distributed to organizations shown to have been in existence for a minimum of three years. The distribution decisions of the commission shall be final.
5. Members of the commission, employees of the commission, and any individual that the commission had assist in the distribution determination shall be held harmless against any claim of liability made by any person or organization arising out of the distribution of the moneys from the fund by the commission.
6. Section 8.33 does not apply to moneys in the fund. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the fund.