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Kentucky Revised Statutes Title XI. Revenue and Taxation § 138.511.Definitions for KRS 138.510 to 138.550

Current as of January 01, 2025 | Updated by Findlaw Staff

As used in KRS 138.510 to 138.550:

(1) “Advanced deposit account wagering” has the same meaning as in KRS 230.210;

(2) “Advanced deposit account wagering license” has the same meaning as in KRS 230.210;

(3) “Association” has the same meaning as in KRS 230.210;

(4) “Corporation” means the Kentucky Horse Racing and Gaming Corporation;

(5) “Daily average live handle” means:

(a) The handle from wagers made at a track on live racing during the fiscal year, excluding amounts wagered:

1. At a receiving track;

2. At a simulcast facility;

3. On telephone account wagering;

4. Through advance deposit account wagering;

5. At a track participating as a receiving track or simulcast facility displaying simulcasts and conducting interstate wagering as permitted by KRS 230.3771 and 230.3773; and

6. Beginning April 1, 2014, on historical horse races;

divided by:

(b) The total number of days that live racing was conducted at the track during the fiscal year;

(6) “Department” means the Department of Revenue;

(7) “Fiscal year” means a time frame beginning 12:01 a.m. July 1, and ending 12 midnight June 30;

(8) “Handle” means total wagers made on a race;

(9)(a) “Historical horse race” means any horse race that:

1. Was previously run at a licensed pari-mutuel facility in the United States;

2. Concluded with official results; and

3. Concluded without scratches, disqualifications, or dead-heat finishes.

(b) As used in this subsection, the terms “pari-mutuel,” “scratch,” “disqualification,” and “dead heat” have the same meaning as established by the corporation pursuant to an administrative regulation promulgated under KRS Chapter 13A;

(10) “Host track” has the same meaning as in KRS 230.210;

(11) “Interstate wagering” has the same meaning as in KRS 230.210;

(12) “Intertrack wagering” has the same meaning as in KRS 230.210;

(13) “Kentucky resident” means:

(a) An individual domiciled within this state;

(b) An individual who maintains a place of abode in this state and spends, in the aggregate, more than one hundred eighty-three (183) days of the taxable year in this state; or

(c) An individual who lists a Kentucky address as his or her principal place of residence when applying for an account to participate in advance deposit account wagering;

(14) “Receiving track” has the same meaning as in KRS 230.210;

(15) “Simulcast facility” has the same meaning as in KRS 230.210;

(16) “Takeout” means that portion of the handle which is distributed to persons other than those making wagers;

(17) “Telephone account wagering” has the same meaning as in KRS 230.210; and

(18) “Track” has the same meaning as in KRS 230.210.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XI. Revenue and Taxation § 138.511.Definitions for KRS 138.510 to 138.550 - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xi-revenue-and-taxation/ky-rev-st-sect-138-511/

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