Source Market Fee Allocation To Horse Purse Fund
Racing - allocation of source market fee. The director of the division of racing events is authorized to allocate a portion of the source market fee paid by out-of-state licensees to be paid to any horse purse trust fund established pursuant to existing law, if necessary, to maintain a sustainable and competitive purse structure in Colorado. The money credited to a horse purse trust account from the source market fee is to be paid out as purses for races held at live race meets in Colorado, as authorized by the director, or as otherwise authorized by rules of the Colorado racing commission.
(Note: This summary applies to this bill as enacted.)