{"data":{"id":"us-ky/krs-230.446","jurisdiction":"us-ky","citation":"KRS 230.446","heading":"Kentucky paint horse, Appaloosa, and Arabian purse fund -- Purposes --","body":"Distribution and allocation of funds -- Administration of fund.\n(1) The Kentucky paint horse, Appaloosa, and Arabian purse fund is created as a\ncorporate fund to be admini stered by the Kentucky Horse Racing and Gaming\nCorporation and shall consist of moneys allocated to the fund under KRS 230.3771\ntogether with any other moneys contributed to or allocated to the fund from all\nother sources. For the purposes of this section,  \"purse fund\" or\" fund\" means the\nKentucky paint horse, Appaloosa, and Arabian purse 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 succeed ing\nfiscal year. Interest earnings of the fund shall become a part of the fund and shall\nnot lapse.\n(3) Moneys in the fund shall be used for purposes specified in this section.\n(4) The Kentucky Horse Racing and Gaming Corporation shall use at least ninety\npercent (90%) of the purse fund to promote racing and to provide purses for races\nconducted in the Commonwealth as follows:\n(a) The Kentucky Horse Racing and Gaming Corporation shall provide for\ndistribution of money from the fund to persons, corporations,  or associations\noperating licensed tracks within the Commonwealth conducting paint horse,\nAppaloosa, or Arabian horse racing;\n(b) At least ninety percent (90%) of the moneys from the purse fund shall be\nallocated to each breed of horse represented in the fund in proportion to the\namount each breed has contributed to the fund; and\n(c) The Kentucky Horse Racing and Gaming Corporation shall consult with the\nKentucky Appaloosa Owners Association or its successor, the Kentucky Paint\nHorse Club or its successor,  and the Kentucky Arabian Horse Association or\nits successor, to designate the races and the amount of purse money to be\nprovided for designated races for each breed respectively.\n(5) Up to ten percent (10%) of the purse fund may be allocated for the admin istration\nand operation of the corporation.\n(6) The Kentucky Horse Racing and Gaming Corporation:\n(a) Shall fix the dates and conditions of races to be held by licensed tracks;\n(b) Shall fix the amount of money to be paid from the fund to be added to the\npurse provided for each race by the licensed operator of the track; and\n(c) May promulgate administrative regulations in accordance with KRS Chapter\n13A necessary to carry out the provisions of this section.\n(7) 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 horse industry in Kentucky and upg rade the quality of\nhorse racing in Kentucky.","path":["KRS Chapter 230"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56029","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:47Z","sha256":"6fe1c5e3b8db6978ada06ea77418116c3c34a46c92631ed231d20945a939287c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-230.445","next":"us-ky/krs-230.447"},"notice":"GroundRules: Original legal text. Not legal advice."}