SECTION 321.503. Purses

(a) To be approved by the executive secretary, an association's request for approval to import a simulcast must allocate for purses as follows:

(1) for a same species simulcast, as provided by the Act, §2028.101; and

(2) for a cross-species simulcast, as provided in the contract with the officially recognized horsemen's organization.

(b) An association's request for approval to export a simulcast must allocate a minimum of 37.0% for purses from the simulcast fee charged to the guest racetrack, unless otherwise approved by the recognized horsemen's organization and the executive secretary.

(c) An association shall distribute the funds derived for purses from a simulcast during the 12-month period immediately following the simulcast.

Source Note: The provisions of this §321.503 adopted to be effective April 1, 2001, 26 TexReg 2161; amended to be effective March 28, 2011, 36 TexReg 1981; amended to be effective July 1, 2019, 44 TexReg 3262