1. Fund created. The Harness Racing Promotional Fund, referred to in this section as “the fund,” is established to be used solely for the marketing and promotion of harness racing in the State. The fund consists of any money received through the commission on wagers pursuant to section 286 and any contributions, grants or appropriations from private and public sources. The fund, to be accounted for within the commission, must be held separate and apart from all other money, funds and accounts. Any balance remaining in the fund at the end of a fiscal year does not lapse but must be carried forward to the next fiscal year. The fund may not be charged for indirect costs under a departmental indirect cost allocation plan.

[PL 2019, c. 626, §15 (AMD).]

Terms Used In Maine Revised Statutes Title 8 Sec. 299-A

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Expenditures. The commission shall administer the fund consistent with the purposes of this section.

[PL 2017, c. 371, §5 (NEW).]

SECTION HISTORY

PL 2017, c. 371, §5 (NEW). PL 2019, c. 343, Pt. U, §1 (AMD). PL 2019, c. 626, §15 (AMD).
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