Kentucky Revised Statutes Title XIX. Public Safety and Morals § 230.770.Kentucky standardbred 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 as the Kentucky standardbred development fund, consisting of moneys allocated to the fund under the provisions of KRS 138.510, 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 standardbred development fund.

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

(d) Moneys to the credit of the fund at the end of each fiscal year shall not lapse but shall be carried forward in the fund to the succeeding fiscal year.

(a) Account for the moneys in the fund by separating the moneys as required for distribution under subsections (1) and (4) of this section; and

(b) Provide for distribution of moneys to the credit of the development fund to persons, corporations, or associations operating licensed standardbred race tracks within Kentucky on an equitable basis, for the purpose of conducting separate races for Kentucky-bred standardbred horses, both trotting and pacing.

(a) Beginning July 31, 2024, three hundred thousand dollars ($300,000) shall be transferred annually into the event reserve account until the total amount transferred into the event reserve account reaches nine hundred thousand dollars ($900,000);

(b) If the event reserve account reaches nine hundred thousand dollars ($900,000), the annual transfer of moneys into the account shall be suspended and shall not resume until a Kentucky track has hosted the event and has received its distribution of moneys under this subsection; and

(c) If an event is held and the nine hundred thousand dollars ($900,000) has been distributed to the host track, the annual transfers into the event reserve account under paragraph (a) of this subsection shall resume at that time.

(a) Fix the amount of moneys to be paid from the development fund to be added to the purse provided for each race by the licensed operator of the track; and

(b) Fix the dates and conditions of races to be held by licensed race tracks.

(7)(a) The Kentucky Horse Racing and Gaming Corporation may promulgate administrative regulations in accordance with KRS Chapter 13A to carry out the provisions of this section, including those administrative regulations necessary to determine the eligibility of horses for entry in races for which a portion of the purse is provided by moneys of the development fund, including administrative regulations for the eligibility, residency, and registration of mares, stallions, and progeny thereof.

(b) Registration of stallions may occur any time during the breeding season, but shall occur no later than December 31 of the year of conception of the eligible horse.

(8)(a) The Kentucky Horse Racing and Gaming Corporation shall appoint qualified personnel necessary to supervise registration of, or determination of eligibility of, horses entitled to entry in races, a portion of the purse of which is provided by the development fund, to assist the corporation in determining the conditions, class, and quality of the fund supported race program to be established in this section to carry out the purposes of this section.

(b) These persons shall serve at the pleasure of the corporation and compensation shall be fixed by the corporation.

(c) The corporation shall administer the Kentucky sire stakes program in a manner best designed to: