1. (a) The intent of this section is similar to that of the Interstate Horseracing Act of 1978, 15 U.S.C. §§ 3001 through 3007.
2. (b) If the Commission approves, a licensee may contract to hold pari-mutuel betting on a race that is held at an out-of-state track where betting on racing is lawful.

3. (c) Pari-mutuel betting under this section may only occur:

   1. (1) on a racing day when the Commission has authorized the licensee to hold racing; and

   2. (2)

      1. (i) at the track of the licensee;
      2. (ii) at any track where pari-mutuel betting on races on the racing program of the licensee for that day is authorized; or
      3. (iii) at a satellite simulcast facility.

4. (d)

   1. (1) The breakage and takeout for pari-mutuel betting under this section shall be computed in the way normally applicable to pari-mutuel betting on racing the licensee holds.

   2. (2) From the takeout the licensee shall deduct:

      1. (i) the State tax on all mutuel pools;
      2. (ii) the amount to be paid under the contract to the out-of-state track; and
      3. (iii) the cost of transmission.
   3. (3) The licensee shall then allocate the rest of the takeout in the way applicable to the racing that the licensee holds.
5. (e) A contract with an out-of-state track under this section is subject to the approval of the group that represents a majority of the owners and trainers who race horses at that track and the group that represents a majority of the applicable breeders in this State.

Added by Acts 1992, c. 4, § 2. Amended by Acts 1992, c. 473, § 2; Acts 2000, c. 309, § 1, eff. July 1, 2000.

Formerly Art. 78B, § 31.