KRS § 230.445 — KY Code / Title XIX / Chapter 230 / Section 230.445
230.445 Kentucky paint horse, Appaloosa, and Arabian development fund -- Contributions -- Purposes -- Distribution -- Administrative regulations
Status: in_force

230.445 Kentucky paint horse, Appaloosa, and Arabian development fund --

Contributions -- Purposes -- Distribution -- Administrative regulations.

(1) (a) There is hereby created a corporate account for the Kentucky Horse Racing

and Gaming Corporation designated the Kentucky 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 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; and

2. Remaining moneys to be divided as follows:

a. At least ninety percent (90%) shall be allocated within Kentucky

as set forth in this section; and

b. Up to ten percent (10%) for administration and operation of the

corporation.

(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 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 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) (a) The Kentucky Horse Racing and Gaming Corporation shall:

1. 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; and

2. Fix the dates and conditions of races to be held by licensed tracks.

(b) At least ninety percent (90%) of the 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:

(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) Determine 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.

(5) The corporation may promulgate administrative regulations to carry out the

provisions of this section and shall administer the Kentucky 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.