Fund 0876 – Racing Commission Escrowed Purse Trust Account

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Legal Citations:

Vernon's Civil Statutes art. 179e sec. 6.091

Origin Date: September 1, 1997 by H.B. 1445, 75th Leg., R.S.

Issue Date: 1997-09-01

Revised Date:

Purpose

A greyhound racetrack association that receives a interstate cross-species simulcast signal shall distribute from total a purse of 4.5 percent to be escrowed with Commission for purses. The purse set aside shall be deposited into an escrow account in the registry of the Commission. Any horse racetrack association in this state may apply for receipt of all or part of the escrowed purse account for use as purses. The Commission shall determine to which horse racetracks money shall be allocated and in what percentage. The first distribution of the escrowed purse account may not be made before October 1, 1998.

Classification	Group 08: Trust Funds [?]
Depository Interest	Retained in appropriated fund.
Disposition of Balance	Accumulative
Appropriation Technique	Not appropriated for state expenditure.

Administering Agencies

476 – Texas Racing Commission

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

USAS Values

USAS Title	HORSE INDUSTRY ESCROW TRUST ACCOUNT
Consolidated Fund
State Fund Group	08 - TRUST FUNDS
USAS Status	A

Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities

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