{"data":{"id":"us-ky/krs-230.407","jurisdiction":"us-ky","citation":"KRS 230.407","heading":"Kentucky quarter horse purse fund -- Contributions -- Purposes --","body":"Distribution.\n(1) The Kentucky quarter horse purse fund is created as a corporate fund to be\nadministered by the Kentucky Horse Racing and Gaming Corporation and shall\nconsist of  moneys allocated to the fund under KRS 230.3771 together with any\nother moneys contributed to or allocated to the fund from all other sources. For the\npurposes of this section, \"purse fund\" or \"fund\" means the Kentucky quarter horse\npurse fund.\n(2) Notwithstanding KRS 45.229, money to the credit of the fund at the end of the\nfiscal year shall not lapse but shall be carried forward in the fund to the succeeding\nfiscal year. Interest earnings of the fund shall become a part of the fund and shall\nnot lapse.\n(3) The Kentucky Horse Racing and Gaming Corporation shall use at least ninety\npercent (90%) of the purse fund to promote quarter horse racing and to provide\npurses for quarter horse races conducted in the Commonwealth as follows:\n(a) The Kentucky Horse Rac ing and Gaming Corporation shall provide for\ndistribution of money from the fund to persons, corporations, or associations\noperating licensed tracks within the Commonwealth conducting quarter horse\nracing;\n(b) At least ninety percent (90%) of the moneys fr om the fund shall be allocated\nto each licensed association located in the Commonwealth in proportion to the\namount each association contributed to the fund; and\n(c) The Kentucky Horse Racing and Gaming Corporation shall consult with the\nKentucky Quarter H orse Racing Association or its successor to designate the\nraces and the amount of purse money to be provided for designated quarter\nhorse races.\n(4) The Kentucky Horse Racing and Gaming Corporation may use up to ten percent\n(10%) of the purse fund for administration and operation of the corporation.\n(5) The Kentucky Horse Racing and Gaming Corporation:\n(a) Shall fix the dates and conditions of quarter horse races to be held by licensed\ntracks;\n(b) Shall fix the amount of money to be paid from the fund to be  added to the\npurse provided for each quarter horse race by the licensed operator of the\ntrack; and\n(c) May promulgate administrative regulations in accordance with KRS Chapter\n13A to carry out the provisions of this section.\n(6) The Kentucky Horse Racing and Gaming Corporation shall carry out the provisions\nof this section and administer the purse fund in a  manner designed to promote and\naid in the development of the quarter horse industry in Kentucky and upgrade the\nquality of quarter horse racing in Kentucky.","path":["KRS Chapter 230"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56027","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:47Z","sha256":"c2fe79a8217c162b0678748a64134245a65f384d0f6f63bcd08368cb87edc63b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-230.405","next":"us-ky/krs-230.410"},"notice":"GroundRules: Original legal text. Not legal advice."}