Michigan Laws 431.319 – Payment into horsemen’s purse account; disposition; distribution; payment of net commission on live and simulcast racing to the pari-mutuel horse racing disbursement account
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Terms Used In Michigan Laws 431.319
- month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
- Net commission: means the amount determined under section 17(3), after first deducting from the licensee's statutory commission the applicable state tax on wagering due and payable under section 22 and the actual verified fee paid by the licensee to the sending host track to receive the simulcast signal. See Michigan Laws 431.302
- racing commissioner: means the executive director of the Michigan gaming control board appointed under section 4 of the Michigan gaming control and revenue act, 1996 IL 1, MCL 432. See Michigan Laws 431.302
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) Subject to subsection (2), a race meeting licensee shall pay an amount equal to not less than 25% and not more than 40% of the net commission generated at the licensee’s race meeting to a site-specific horsemen’s purse account. Money paid into a horsemen’s purse account under this act must be deposited in a depository designated by the participating certified horsemen’s organizations and distributed by their designated agent as follows:
(a) For purses for live horse races at a licensed race meeting in this state.
(b) Each year, all certified horsemen’s organizations that participate in a live race meeting may receive an amount approved by order of the racing commissioner to use for general expenses. Beginning on January 1 and ending on December 31 of each year, the certified horsemen’s organization is entitled to not less than 5% of the site-specific horsemen’s purse account as ordered by the racing commissioner.
(2) A race meeting licensee shall pay the net commission generated from wagering on live and simulcast racing through the race meeting licensee’s third-party facilitator to the pari-mutuel horse racing disbursement account. On the first day of each month after the effective date of the amendatory act that added this subsection, money paid into the pari-mutuel horse racing disbursement account must be distributed as follows:
(a) Fifty percent to be divided equally to each certified horsemen’s organization.
(b) Fifty percent to be divided equally to each track licensee.