Opinion ID: 2112535
Heading Depth: 1
Heading Rank: 1

Heading: track distribution fund

Text: In 1986, the Legislature established the Track Distribution Fund, codified at §§ 2-1208.03 and 2-1208.04, for the purpose of subsidizing smaller Nebraska racetracks at the expense of the state's larger and more successful tracks. Money for the Track Distribution Fund is supplied by the tracks themselves, which are required to withhold a small percentage of their gross daily receipts from so-called exotic wagers, such as the daily double, exacta, trifecta, pick six, and others. Each month, the racetracks pay the withheld funds to the Racing Commission, which maintains the Track Distribution Fund. Annual collections for the fund are subsequently distributed to qualifying tracks during the following year based on the formula provided in § 2-1208.-04(2). To qualify for distributions from the Track Distribution Fund, a racetrack must be a recipient track under § 2-1208.03(5), previously set forth in this opinion.