KRS 230.446: Kentucky paint horse, Appaloosa, and Arabian purse fund -- Purposes --

Distribution and allocation of funds -- Administration of fund.

(1) The Kentucky paint horse, Appaloosa, and Arabian purse fund is created as a

corporate fund to be admini stered by the Kentucky Horse Racing and Gaming

Corporation and shall consist 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. For the purposes of this section, "purse fund" or" fund" means the

Kentucky paint horse, Appaloosa, and Arabian purse fund.

(2) Notwithstanding KRS 45.229, money 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 succeed ing

fiscal year. Interest earnings of the fund shall become a part of the fund and shall

not lapse.

(3) Moneys in the fund shall be used for purposes specified in this section.

(4) The Kentucky Horse Racing and Gaming Corporation shall use at least ninety

percent (90%) of the purse fund to promote racing and to provide purses for races

conducted in the Commonwealth as follows:

(a) The Kentucky Horse Racing and Gaming Corporation shall provide for

distribution of money from the fund to persons, corporations, or associations

operating licensed tracks within the Commonwealth conducting paint horse,

Appaloosa, or Arabian horse racing;

(b) At least ninety percent (90%) of the moneys from the purse fund shall be

allocated to each breed of horse represented in the fund in proportion to the

amount each breed has contributed to the fund; and

(c) The Kentucky Horse Racing and Gaming Corporation shall consult with the

Kentucky Appaloosa Owners Association or its successor, the Kentucky Paint

Horse Club or its successor, and the Kentucky Arabian Horse Association or

its successor, to designate the races and the amount of purse money to be

provided for designated races for each breed respectively.

(5) Up to ten percent (10%) of the purse fund may be allocated for the admin istration

and operation of the corporation.

(6) The Kentucky Horse Racing and Gaming Corporation:

(a) Shall fix the dates and conditions of races to be held by licensed tracks;

(b) Shall fix the amount of money to be paid from the fund to be added to the

purse provided for each race by the licensed operator of the track; and

(c) May promulgate administrative regulations in accordance with KRS Chapter

13A necessary to carry out the provisions of this section.

(7) The Kentucky Horse Racing and Gaming Corporation shall carry out the provisions

of this section and administer the purse fund in a manner designed to promote and

aid in the development of the horse industry in Kentucky and upg rade the quality of

horse racing in Kentucky.