Kentucky Revised Statutes Title XIX. Public Safety and Morals § 230.445.Kentucky paint horse, Appaloosa, and Arabian development fund; contributions; purposes; distribution; administrative regulations

(1)(a) There is hereby created a corporate account for the Kentucky Horse Racing and Gaming Corporation designated the Kentucky paint horse, Appaloosa, and Arabian development fund, consisting of moneys allocated to the fund under KRS 230.3771 together with any other moneys contributed to or allocated to the fund from all other sources.

(b) For the purposes of this section, “development fund” or “fund” means the Kentucky paint horse, Appaloosa, and Arabian development fund.

(c) Moneys to the credit of the development fund shall be transferred in the following order:

(d) Notwithstanding KRS 45.229, moneys to the credit of the fund at the end of the fiscal year shall not lapse but shall be carried forward in the fund to the succeeding fiscal year.

(e) Interest earnings of the fund shall become a part of the fund and shall not lapse.

(f) Moneys in the fund shall be used for purposes specified in this section.

(3)(a) The Kentucky Horse Racing and Gaming Corporation shall:

(b) At least ninety percent (90%) of the moneys from the fund shall be allocated to each breed of horse represented in the fund in an amount equal to the amount the breed has contributed to the fund.

(a) Supervise registration of, or determine the eligibility of, horses entitled to entry in races which receive a portion of purse money from the development fund; and

(b) Determine the conditions, class, and quality of the fund-supported race program established to carry out the purposes of this section.

The personnel shall serve at the pleasure of the corporation and compensation shall be fixed by the corporation.

(a) Promote and aid in the development of the horse industry in Kentucky;

(b) Upgrade the quality of racing in Kentucky; and

(c) Improve the quality of horses bred in Kentucky.