Section 60. Fund distribution; allocation of funds

The funds generated by pari-mutuel wagering on Thoroughbred horse races for the Virginia Breeders Fund shall be allocated on the following schedule or as the commission deems appropriate in order to promote, sustain, and grow a native industry:

1. 35% shall be set aside for payment to the breeders of Virginia-bred Thoroughbred horses that win races at a race meeting designated by the commission;

2. 15% shall be set aside for payment to owners or lessees of registered Virginia stallions that sire Virginia-bred Thoroughbred horses that win races at race meetings designated by the commission; and

3. 50% shall be paid to supplement purses as determined by the commission under the following provisions:

a. An award may be paid to the owner or owners of a Virginia-bred Thoroughbred horse each time the horse earns purse money in a nonrestricted race at race meetings licensed by the commission or wins races at race meetings designated by the commission;

b. The maximum amount payable for breeder or stallion owner awards to a Virginia-bred Thoroughbred horse for any single race shall be $25,000;

c. The maximum amount payable for an owner award to a Virginia-bred Thoroughbred horse for any single race run in Virginia shall be $25,000, and the maximum amount payable for an owner award for any single race in any other jurisdiction shall be $5,000; and

d. Purses shall be paid for races restricted to Virginia-bred Thoroughbred horses.

Historical Notes

Derived from VR662-04-04 § 3.4, eff. January 27, 1993; amended, Volume 14, Issue 07, eff. January 22, 1998; Volume 15, Issue 26, eff. August 25, 1999; Volume 17, Issue 04, eff. October 16, 2000; Volume 17, Issue 19, eff. May 7, 2001; Volume 18, Issue 20, eff. May 22, 2002; Volume 23, Issue 11, eff. January 10, 2007; Volume 24, Issue 16, eff. April 14, 2008.

Statutory Authority

§ 59.1-369 of the Code of Virginia.