{"data":{"id":"us-ky/krs-230.850","jurisdiction":"us-ky","citation":"KRS 230.850","heading":"Purse stabilization fund.","body":"(1) There is hereby established in the corporation a restricted account to be known as\nthe purse stabilization fund. The fund shall consist of any moneys received from the\nexcise tax collected under KRS 138.552 that derives from wagers placed on horse\nracing.\n(2) The fund shall be administered by the corporation.\n(3) The amounts deposited in the fund:\n(a) Shall be held in the restricted account for at least one and one -half (1 -1/2)\nyears after July 15, 2026; and\n(b) Shall not be used except as the corporation determines is reasonably necessary\nto supplement purses at live horse racing meets in an amount not to exceed ten\npercent (10%) of the fund.\n(4) Notwithstanding KRS 45.229, fund amounts not expended at the close of a fiscal\nyear shall not lapse but shall be carried forward into the next fiscal year.","path":["KRS Chapter 230"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58100","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:47Z","sha256":"00972abaa57b54920c6b87024a4b68d0278cc3f3ca4f34fe1b6c4ba0c4fa1d96","source_id":"us-ky","stale":false,"prev":"us-ky/krs-230.848","next":"us-ky/krs-230.990"},"notice":"GroundRules: Original legal text. Not legal advice."}