Section 230.445 - Kentucky quarter horse, paint horse, Appaloosa, and Arabian development fund - Contributions - Purposes - Distribution - Administrative regulations(1)(a) There is hereby created a trust and agency account for the Kentucky Horse Racing and Gaming Corporation designated the Kentucky quarter horse, paint horse, Appaloosa, and Arabian development fund, consisting of moneys allocated to the fund under KRS 230.3771 together with any other moneys contributed to or allocated to the fund from all other sources.(b) For the purposes of this section, "development fund" or "fund" means the Kentucky quarter horse, paint horse, Appaloosa, and Arabian development fund.(c) Moneys to the credit of the development fund shall be transferred in the following order: 1. Twenty-five thousand dollars ($25,000) each fiscal year to the Kentucky problem gambling assistance account established in KRS 230.826; and2. Remaining moneys to the Kentucky Horse Racing and Gaming Corporation for the purposes specified in this section.(d) Notwithstanding KRS 45.229, moneys to the credit of the fund at the end of the fiscal year shall not lapse but shall be carried forward in the fund to the succeeding fiscal year.(e) Interest earnings of the fund shall become a part of the fund and shall not lapse.(f) Moneys in the fund shall be used and are hereby appropriated for purposes specified in this section.(2) The Kentucky Horse Racing and Gaming Corporation shall use the development fund to promote races and to provide purses for races for horses bred and foaled in the Commonwealth. The corporation shall provide for distribution of moneys to the credit of the development fund to persons, corporations, or associations operating licensed tracks within Kentucky conducting quarter horse, paint horse, Appaloosa, or Arabian horse racing, on an equitable basis as determined by the corporation and in conformance with subsection (3) of this section.(3) The Kentucky Horse Racing and Gaming Corporation shall:(a) Fix the amount of moneys to be paid from the development fund to be added to the purse provided for each race by the licensed operator of the track;(b) Fix the dates and conditions of races to be held by licensed tracks; and(c) Promulgate administrative regulations necessary to carry out the provisions of this section. Moneys from the fund shall be allocated to each breed of horse represented in the fund in an amount equal to the amount the breed has contributed to the fund.
(4) The Kentucky Horse Racing and Gaming Corporation shall appoint qualified personnel as necessary to: (a) Supervise registration of, or determine the eligibility of, horses entitled to entry in races which receive a portion of purse money from the development fund; and(b) Assist the corporation in determining the conditions, class, and quality of the fund-supported race program established to carry out the purposes of this section. The personnel shall serve at the pleasure of the corporation and compensation shall be fixed by the corporation with the compensation and necessary expenses of the personnel paid from the development fund.
(5) The corporation shall promulgate administrative regulations to carry out the provisions of this section and shall administer the Kentucky quarter horse, paint horse, Appaloosa, and Arabian development fund in a manner designed to: (a) Promote and aid in the development of the horse industry in Kentucky;(b) Upgrade the quality of racing in Kentucky; and(c) Improve the quality of horses bred in Kentucky.Amended by 2024 Ky. Acts ch. 171,§ 84, eff. 7/1/2024.Amended by 2024 Ky. Acts ch. 166,§ 8, eff. 4/9/2024.Amended by 2015 Ky. Acts ch. 47,§ 2, eff. 6/22/2015.Effective:7/15/2010
Created 2010, Ky. Acts ch. 57, sec. 4, effective7/15/2010.