Title 810 | Chapter 007 | Regulation 030


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810 KAR 7:030.Kentucky Thoroughbred Development Fund.

Section 1.

Definitions.

(1)

"KTDF" means the Kentucky Thoroughbred Development Fund, as established by KRS 230.400.

(2)

"KTDF Advisory Committee" means a five (5) member committee established by KRS 230.400.

(3)

"KTOB" means the Kentucky Thoroughbred Owners and Breeders, Inc., as the official registrar for the KTDF in accordance with KRS 230.400.

(4)

"Licensed association" means a person or legal entity conducting horse racing pursuant to a license issued under 810 KAR 3:010.

Section 2.

KTDF Monies Earned. Money shall be allocated to the credit of each licensed association in the amount the licensed association contributed to the KTDF pursuant to KRS 230.400.[]

Section 3.

KTDF Reconciliation.

(1)

Each licensed association shall file with the commission a copy of the pari-mutuel tax form filed with the Department of Revenue, along with a copy of the check submitted for each report. These reports shall be filed weekly.

(2)

The commission shall reconcile the weekly reports submitted by the licensed association with the Department of Revenue's reports and deposits on a monthly basis.

(3)

If at the close of a live race meet, a licensed association has a surplus balance of KTDF monies earned pursuant to KRS 230.400, then the licensed association may request to distribute a portion of that balance, contingent on the recommendation of the KTDF Advisory Committee and the approval of the commission to:

(a)

Supplement purses at future live racing meets held by that licensed association;

(b)

Fund supplemental purse structures approved by the commission for a previous live racing meet held by the licensed association to the recipients of the original purse allocation; or

(c)

Supplement purses at another licensed thoroughbred Kentucky racetrack.

(4)

Reasonable and customary administrative charges for time spent reconciling the KTDF account may be charged by the commission to each licensed association based on the percentage of funds generated by each licensed association for the previous calendar year.

(5)

A licensed association, at its option, may pay reasonable advertising charges billed to the association by the KTOB from the association's KTDF available balance, if the advertising charges are consistent with the intent of the KTDF. Approval of any advertising payment shall be contingent on the recommendation of the KTDF Advisory Committee and the approval of the commission.

(6)

 

(a)

Each licensed association shall submit its purses paid reports, advertising invoices, or any other documentation requested by the commission, pertinent to reimbursement, within fifteen (15) calendar days after the last day of a live race meet.

(b)

Each licensed association shall sign an acknowledgmentfrom the commission stating that it accepts and agrees with the reconciliation prior to the reimbursement of any KTDF funds.

Section 4.

Purse Structure. Each licensed association shall submit its KTDF purse structure proposal to the KTDF Advisory Committee for approval at least forty-five (45) days prior to the opening day of the live racing meet. The KTDF Advisory Committee shall review the proposed purse structure and make a recommendation to the commission whether to approve the proposed purse structure based upon the best interests of Kentucky racing.

HISTORY: (45 Ky.R. 1982; eff. 5-31-2019; 49 Ky.R. 2377, 50 Ky.R. 665; eff. 12-5-2023.)

FILED WITH LRC: August 8, 2023
CONTACT PERSON: Jennifer Wolsing, General Counsel, 4063 Iron Works Parkway, Building B, Lexington, Kentucky 40511, phone +1 (859) 246-2040, fax +1 (859) 246-2039, email jennifer.wolsing@ky.gov.

7-Year Expiration: 12/5/2030

Last Updated: 12/7/2023


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