Louisiana Revised Statutes 4:218.1 – The commission shall collect a license fee of one and one-half percent of the total amount wagered at each offtrack wagering facility on historical horse racing. The fee shall be all
Terms Used In Louisiana Revised Statutes 4:218.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The commission shall collect a license fee of one and one-half percent of the total amount wagered at each offtrack wagering facility on historical horse racing. The fee shall be allocated as follows:
(1) Sixty-seven percent to the commission.
(2) Eleven and one-half percent to the Louisiana Thoroughbred Breeders Association for promotion of the appropriate breeding industry and for breeder awards.
(3) Five percent to the Louisiana Quarterhorse Breeders Association for promotion of the appropriate breeding industry and for breeder awards.
(4) Eight and one-quarter percent to the parish governing authority where the offtrack wagering facility is located. When a facility is located within the corporation limits of a city, town, or municipality, one-half of the total funds allocated pursuant to the provisions of this Paragraph shall be disbursed to the governing authority of that city, town, or municipality.
(5) Eight and one-quarter percent to the sheriff of the parish where the offtrack wagering facility is located. When a facility is located within the corporation limits of a city, town, or municipality, one-half of the total funds allocated pursuant to the provisions of this Paragraph shall be disbursed to the police department of that city, town, or municipality.
Acts 2022, No. 381, §1; Acts 2023, No. 258, §1, eff. June 12, 2023.