1.  Except in the case of the trotting and pacing meetings provided for in NRS 466.130, and except as provided in subsection 3 of this section, each applicant desiring to hold horse races on the day or days awarded by the Commission shall, before the issuance of any license therefor, pay to the Board a license fee fixed by the Commission at the time of making application of not less than $50 nor more than $200 for each day of any meeting for the conduct of races so licensed.

2.  If the license is to include permission for pari-mutuel wagering, such license fee must be deducted from the tax imposed by NRS 466.125.

3.  State fair associations, agricultural societies, county fair and recreation boards and other associations to which state or county aid is given are exempt from the license fee required by subsection 1 of this section but must secure a license from the Commission before holding such a race.