Louisiana Revised Statutes Tit. 4, § 203. Louisiana Champions Day Account; funding; use; audit

A. All fees from pari-mutuel wagering due pursuant to R.S. 4:161, 161.1, 161.2, 163.1, 166, 166.1, 166.2, 166.3, and 218 from races held on Kentucky Derby Day, Preakness Day, and Belmont Stakes Day shall be paid instead to the Louisiana Thoroughbred Breeders Association and placed in an interest-bearing account to be known as the “Louisiana Champions Day Account” for use at the next Louisiana Champions Day or for any lawful purpose to enhance the Louisiana horse breeding industry.

B. Monies derived pursuant to this Section may be used for Louisiana Champions Day and shall be over and above those provided for from other sources as provided in R.S. 4:202.

C. The Louisiana Champions Day Account shall be subject at all times to audit by the legislative auditor or by a certified public accountant approved by the legislative auditor, the expenses of such audit to be paid by the Louisiana Thoroughbred Breeders Association.