| Issue Date: | 1987-12-11 |
|---|---|
| Revised Date: | 2019-09-01 |
Legal Citations
- Occupations Code sec. 2024.055, sec. 2028.051, sec. 2028.103
Object Type
Cash — Business Regulation
Origin Date
1987 by S.B. 15, 69th Leg., 2nd C.S., November 3, 1987 Ballot
Description
Since January 1. 1999, a horse racing association shall set aside for the state 1% of each live pari-mutuel pool from the total amount of pools in excess of $100 million but less than $200 million. For total pool amounts between $200 million and $300 million, 2% is set aside. For each additional $100 million increment an additional 1% is set aside. Capped at 5%.
Additionally, an association shall set aside 1% of live multiple two and three wagering pool for the Texas-bred program.
Due Date
As established by Comptroller rule.
Collecting Agencies
Deposit Funds
- 0001 – General Revenue Fund
- 0327 – Texas-bred Incentive Fund Texas-bred set aside
Note
Prior to January 1, 1999 an association was required to pay to the state 1% of each live pari-mutuel pool, from the first $100 million of the total amount in a calendar year. For each subsequent $100 million pari-mutuel total, the state was paid an additional 1%. Capped at 5%.
Recodified by S.B. 1969, 85th Leg., R.S. effective April 1, 2019. Previously under Texas Revised Civil Statutes, Art. 179e sec. 3.09(a) and 6.093.
H.B. 3366, 86th Leg., R.S. changed deposit of Texas-bred revenue to Fund 0327.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | RACING POOL-STATE-HORSE, LIVE PARIMUTUEL |
| Receipt Category | 03 – Business Regulation |
| Receipt Type | 10 – Business/Professional Fees |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 01 – LICENSES, FEES, FINES, AND PENALTIES |