New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 70 - HORSE RACING › Subchapter 29 - MUTUELS › Section 13:70-29.62 - Distribution of funds derived from casino simulcasting in lieu of N.J.S.A. 5:12-203g(2)

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Pursuant to
				5:12-204, the formula contained in
				N.J.S.A. 5:12-203g(2) is superseded and revised as set forth in this section as
				to running races, and as set forth in
				13:71-27.60 as to harness racing.
				Of that amount remaining after the deduction of the amounts under subsections
				a, b, c, d, e, f and paragraph g(1) of
				5:12-203, 43 percent shall be paid
				to the New Jersey Racing Commission and shall be distributed, in the following
				year, as provided herein to New Jersey racetracks conducting running races and
				to New Jersey racetracks conducting harness racing as set forth in N.J.A.C.
				13:71-27.60. Such monies shall be used for payment as purse money and for
				programs designed to aid horsemen and horsemen's organizations as provided in
				section 46b(1)(d) or 46b(2)(d) of P.L. 1940, c.17 (5:5-66 ), section 5b(2) of P.L.
				1982, c.201 (5:5-98 ), or section 7f(2)(b) of
				P.L. 1971, c.137 (5:10-7 ), in the case of running
				races. This money shall be distributed to those racetracks conducting running
				races in accord with the percentages set forth in (b) and (c) below, using the
				formula set forth in (d) below. Where a New Jersey permitholder conducts both
				running races and harness races, this section shall be applicable to the
				permitholders running races and
				13:71-27.60 shall be applicable to
				the permitholder's harness races.
(b) Of the monies referred to in (a) above,
				and pursuant to N.J.A.C. 13:71-27.60, 60 percent of the total shall be
				distributed to permitholders conducting running races and 40 percent of the
				total shall be distributed to racetracks conducting harness races for 1998 and
				1999.
(c) Following 1999, of the
				monies referred to in (a) above, and pursuant to N.J.A.C. 13:71-27.60, 50
				percent of the total shall be distributed to permitholders conducting running
				races and 50 percent of the total shall be distributed to racetracks conducting
				harness races.
(d) The formula upon
				which the monies referred to in (a) above is to be distributed to the New
				Jersey racetracks conducting running races, under either (b) or (c) above,
				whichever is applicable shall be as follows:
A/B = C/D
where:
A = the total amount distributed by each racetrack conducting
				  running races, pursuant to section 46b(1)(d) or 46b(2)(d) of P.L. 1940, c.17
				  (5:5-66 ), section 5b(2) of P.L.
				  1982, c.201 (5:5-98 ), or section 7f(2)(b) of
				  P.L. 1971, c.137 (5:10-7 ), during the preceding
				  calendar year, plus any additional amounts paid out by each racetrack for
				  overnight purses during the preceding calendar year from the permitholders'
				  share of the pari-mutuel pool;
B = the total amount distributed by all racetracks conducting
				  running races Statewide pursuant to section 46b(1)(d) and 46b(2)(d) of P.L.
				  1940, c.17 (5:5-66 ), section 5b(2) of P.L.
				  1982, c.201 (5:5-98 ), and section 7f(2)(b) of
				  P.L. 1971, c.137 (5:10-7 ), during the preceding
				  calendar year, plus any additional amounts paid out by racetracks for overnight
				  purses during the preceding calendar year from the permitholder's share of the
				  pari-mutuel pool;
C = the amount to be distributed to each racetrack conducting
				  running races from the total moneys available for distribution pursuant to this
				  section;
D = 60 percent (50 percent after 1999) of the total amount of
				  moneys available for distribution pursuant to this section.