{"data":{"id":"us-ok/okla.-stat.-tit.-3a-3a-204.1d","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 3A, § 3A-204.1D","heading":"Oklahoma Horse Racing Commission - Budget","body":"A. The Oklahoma Horse Racing Commission Operational Expenses\n\nRevolving Fund shall be used to fund the operations of the Oklahoma\n\nHorse Racing Commission within the limits of the budget (Budget).\n\nB. The Budget for the initial fiscal year of this act shall be\n\nestablished by vote at a Commission meeting and shall not exceed\n\nThree Million Three Hundred Thousand Dollars ($3,300,000.00). The\n\nBudget for subsequent years shall be established by vote at a\n\nCommission meeting and may be increased as follows: any amount equal\n\nto the initial fiscal year budget under this act multiplied by the\n\npercentage by which the CPI Index on January 1 of the budget year\n\nexceeds the CPI Index of the previous year; or by an amount agreed\n\nto by the organization licensees described in paragraphs 1 and 2 of\n\nsubsection C of Section 262 of Title 3A of the Oklahoma Statutes and\n\nthe official horsemen's representative organizations described in\n\nSection 267 of Title 3A of the Oklahoma Statutes by vote at a\n\nCommission meeting. \"CPI\" means the most recent all-items consumer\n\nprice index for all-urban consumers for the United States City\n\nAverage published by the United States Department of Labor. Consent\n\nto the increase in the budget amount for the Oklahoma Horse Racing\n\nCommission by the organization licensees and the official horsemen's\n\nrepresentative organizations authorized by this subsection may be\n\ncommunicated to the Oklahoma Horse Racing Commission either through\n\na resolution of the governing board of each such licensee and each\n\nsuch representative organization or through a communication\n\nauthorized to be made by the governing board of each such licensee\n\nand each such representative organization by a chief executive\n\nofficer or authorized employee or authorized agent of the\n\norganization licensee or representative organization in such form\n\nand at such time as may be mutually agreeable to the Oklahoma Horse\n\nRacing Commission and the respective licensee or representative\n\norganization.\n\nC. The Oklahoma Horse Racing Commission shall establish the\n\npercentage of adjusted gross gaming revenues necessary for providing\n\nadequate operational expenses (Operational Expenses Revolving Fund\n\nRetention Percentage) by vote at a Commission meeting. The\n\nOperational Expenses Revolving Fund Retention Percentage shall be no\n\nless than one-half of one percent (0.5%) and no more than three\n\npercent (3%) of adjusted gross gaming revenues, as outlined in\n\nsubsections A through G of Section 263 of Title 3A of the Oklahoma\n\nStatutes. For any subsequent quarter of a year, the Commission may\n\nadjust the Operational Expenses Revolving Fund Retention Percentage\n\nby a vote at a Commission meeting in accordance with the budget\n\nlimitations established herein. In establishing the Operational\n\nExpenses Revolving Fund Retention Percentage, the Commission must\n\nattempt to set the rate to meet the estimated operating needs for\n\nthe budget year, such that funds are available for operations but\n\nfunds in excess of operating needs are minimized.","path":["OK Code","Title 3A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os3A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5196542da53a0f1502e53c14abdf3701f61a6fdc805591526e594a1b85c36610","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-3a-3a-204.1c","next":"us-ok/okla.-stat.-tit.-3a-3a-204.2"},"notice":"GroundRules: Original legal text. Not legal advice."}